Greece's trade deficit narrowed to EUR 1.16 billion in May 2020 from EUR 2.22 billion in the same month last year, as the coronavirus pandemic hit global demand. Imports plummeted 39.0 percent as purchases from the EU were down 24.0 percent and those from non-EU countries tumbled 53.2 percent. Meanwhile, exports declined at a softer 32.7 percent due to falling sales to both the EU (-19.9 percent) and non-EU countries (-46.5 percent).

Balance of Trade in Greece averaged -2175.70 EUR Million from 2001 until 2020, reaching an all time high of -619.80 EUR Million in July of 2015 and a record low of -4328.60 EUR Million in March of 2007. This page provides - Greece Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Greece Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.

Balance of Trade in Greece is expected to be -1230.00 EUR Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Greece to stand at -1300.00 in 12 months time. In the long-term, the Greece Balance of Trade is projected to trend around -1010.00 EUR Million in 2021 and -1120.00 EUR Million in 2022, according to our econometric models.

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Greece Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1162.00 -1071.80 -619.80 -4328.60 2001 - 2020 EUR Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-04-07 09:00 AM Feb €-1.69B €-1.91B €-1.4B
2020-05-08 09:00 AM Mar €-1.79B €-1.69B € -2B
2020-06-05 09:00 AM Apr €-1.13B €-1.79B €-1.3B
2020-07-07 09:00 AM May €-1.16B €-1.07B €-2.4B
2020-08-07 09:00 AM Jun €-1.16B € -1.9B
2020-09-07 09:00 AM Jul €-1.6B
2020-10-07 09:00 AM Aug €-2.1B
2020-11-06 10:00 AM Sep € -1.2B


News Stream
Greek Trade Gap Narrows in May as Both Exports, Imports Slump
Greece's trade deficit narrowed to EUR 1.16 billion in May 2020 from EUR 2.22 billion in the same month last year, as the coronavirus pandemic hit global demand. Imports plummeted 39.0 percent as purchases from the EU were down 24.0 percent and those from non-EU countries tumbled 53.2 percent. Meanwhile, exports declined at a softer 32.7 percent due to falling sales to both the EU (-19.9 percent) and non-EU countries (-46.5 percent).
2020-07-07
Greek Trade Deficit Narrows Sharply
Greece's trade deficit narrowed to EUR 1.134 billion in April of 2020 from EUR 1.627 billion in the corresponding month of the previous year. Exports slumped 30.6 percent to EUR 2.068 billion, dragged down by both European countries (-21.9 percent to EUR 1.216 billion) and countries outside the EU (-40.2 percent to EUR 0.85 billion). Meantime, imports fell 30.5 percent to EUR 3.202 billion, due to a drop in purchases from both European countries (-31.4 percent to EUR 1.65 billion) and countries outside the EU (-29.6 percent to EUR 1.552 billion).of 2020.
2020-06-05
Greek Trade Deficit Shrinks in March
Greece's trade deficit narrowed to EUR 1.788 billion in March of 2020 from EUR 1.942 billion in the corresponding month of the previous year. Exports fell 11.2 percent to EUR 2.494 billion, dragged down by lower shipments to countries outside the EU (-26.9 percent to EUR 1.037 billion) while those to European countries rose (4.9 percent to EUR 1.458 billion). Meantime, imports decreased 9.8 percent to EUR 4.283 billion, due to a drop in purchases from both European countries (-4.1 percent to EUR 2.306 billion) and countries outside the EU (-15.8 percent to EUR 1.977 billion). Considering the first quarter of 2020, the country’s trade gap shrank to EUR 5.375 billion from EUR 5.622 billion a year ago, as exports edged down 0.3 percent while imports fell at a faster 2 percent.
2020-05-08
Greek Trade Gap Widens in February
Greece's trade deficit rose to EUR 1.687 billion in February of 2020 from EUR 1.566 billion in the corresponding month of the previous year. Exports fell 2.1 percent to EUR 2.635 billion, dragged down by lower shipments to countries outside the EU (-14.3 percent to EUR 1.091 billion) while those to European countries rose (8.9 percent to EUR 1.544 billion). Imports went up 1.5 percent to EUR 4.322 billion, boosted by purchases from European countries (3.4 percent to EUR 2.505 billion) while the ones from countries outside the EU declined (-1 percent to EUR 1.818 billion). Considering the first two months of the year, the country's trade gap narrowed to EUR 3.595 billion from EUR 3.680 billion a year ago, as exports surged 5.3 percent to EUR 5.474 billion whereas imports advanced at a slower 2.1 percent to EUR 9.069 billion.
2020-04-07

Greece Balance of Trade
Greece reports regular trade deficits due to high volume of imports. Main imports are mineral fuels, machinery and transport equipment and chemicals. In recent years, the biggest trade deficits were recorded with Russia, Germany, China, Italy and France. Greece records trade surpluses with Turkey, Cyprus, United States, Algeria and United Arab Emirates.