Greece's trade deficit rose to EUR 1.608 billion in November of 2019 from EUR 1.502 billion in the same month of the previous year. Exports dropped 11.4 percent from a year earlier to EUR 2.712 billion, dragged by lower shipments to European countries (-8.2 percent) while those to other countries fell (-15.1 percent). Meantime, imports decreased 5.3 percent to EUR 4.320 billion, as purchases from European countries went down 1.5 percent and those from countries outside the EU slumped 9.9 percent. Considering the first eleven months of the year, the country's trade gap widened to EUR 20.148 billion from EUR 18.973 billion in the same period of 2018.

Balance of Trade in Greece averaged -2193.05 EUR Million from 2001 until 2019, 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.

Balance of Trade in Greece is expected to be -2000.00 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 -1630.00 in 12 months time. In the long-term, the Greece Balance of Trade is projected to trend around -1610.00 EUR Million in 2020, according to our econometric models.


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Greece Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-1608.00 -1966.90 -619.80 -4328.60 2001 - 2019 EUR Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2019-10-08 09:00 AM Aug €-1.729B €-1.864B €-1.6B
2019-11-07 10:00 AM Sep €-1.884 B €-1.754B €-1.4B
2019-12-06 10:00 AM Oct €-1.967B €-1.913B €-2B
2020-01-09 10:00 AM Nov €-1.608B €-1.967B €-1.7B
2020-02-07 10:00 AM Dec €-1.608B €-1.6B


News Stream
2019-12-06
Greek Trade Deficit Narrows in October
Greece's trade deficit narrowed slightly to EUR 1.967 billion in October 2019 from EUR 2.078 billion in the same month of the previous year. Exports slumped 9.1 percent, as shipments to non-EU countries plunged 22.9 percent while those to the EU rose 3.6 percent. Meanwhile, imports decreased at a softer 7.6 percent, as purchases from non-EU countries dropped 15.5 percent and those from the EU edged up 0.1 percent. Considering January-October, the country's trade gap widened to EUR 18.496 billion from EUR 17.469 billion in the same period of 2018.

2019-11-07
Greece Trade Gap Widens in September
Greece's trade deficit rose slightly to EUR 1.884 billion in September 2019 from EUR 1.841 billion in the same month of the previous year. Exports climbed 6.1 percent from a year earlier to EUR 2.836 billion, boosted by shipments to European countries (13.2 percent) while those to other countries fell (-1.8 percent). Meanwhile, imports increased 4.6 percent, as purchases from European countries jumped 14.6 percent and those from countries outside the EU dropped 5.9 percent. Considering the first nine months of the year, the country's trade gap widened to EUR 16.500 billion from EUR 15.391 billion in the same period of 2018.

2019-10-08
Greek Trade Gap Narrows Slightly in August
Greece's trade deficit shrank to EUR 1.729 billion in August 2019 from EUR 1.758 billion in the same month of the previous year. Imports declined 5.0 percent to EUR 4.109 billion, as purchases from the EU fell (-12.1 percent) while those from countries outside the EU rose (2.1 percent). Exports decreased 7.3 percent to EUR 2.380 billion, as shipments to the EU slumped (-20.3 percent) while the ones to countries outside the EU grew (6.6 percent). Considering the first eight months of the year, the country's trade gap widened to EUR 14.588 billion from EUR 13.546 billion in the same period of 2018, with imports and exports rising 4.1 percent and 1.9 percent, respectively.

2019-09-06
Greek Trade Deficit Widens 6.3% YoY in July
Greece's trade gap rose to EUR 1.828 billion in July 2019 from EUR 1.719 billion in the same month of the previous year. Exports surged 7.2 percent to EUR 3.174 billion, boosted by shipments to the EU (9.5 percent) and countries outside the EU (4.5 percent). Imports advanced at a slower 6.9 percent to EUR 5.002 billion, led by purchases from countries outside the EU (10.7 percent) and the EU (3.4 percent). Considering the first seven months of the year, the country's trade went up to EUR 12.821 billion from EUR 11.788 billion in the same period of 2018, with imports and exports rising 5.2 percent and 3.0 percent, respectively.

2019-08-07
Greek Trade Deficit Narrows in June
Greece's trade gap narrowed to EUR 1.527 billion in June 2019 from EUR 1.981 billion in the same month of the previous year. Imports tumbled 14.5 percent to EUR 4.289 billion, due to lower purchases from the EU (-11.0 percent) and countries outside the EU (-18.4 percent). Meanwhile, exports declined at a slower 9.0 percent to EUR 2.762 billion, as sales fell to the EU (-1.4 percent) and countries outside the EU (-18.1 percent). Considering the first half of the year, the trade deficit widened to EUR 10.952 billion from EUR 10.069 billion in the same period of 2018, with imports and exports advancing 4.7 percent and 2.2 percent, respectively.

2019-07-08
Greek Trade Deficit Widens Sharply in May
Greece's trade gap rose significantly to EUR 2.186 billion in May 2019 from EUR 1.402 billion in the same month of the previous year. It was the largest trade deficit since January, as imports surged 20.1 percent to EUR 5.231 billion, boosted by purchases from countries outside the EU (34.7 percent) and the EU (8.3 percent). Meanwhile, exports rose at a slower 3 percent to EUR 3.045 billion, as higher sales to the EU (14.4 percent) were partly offset by lower ones to countries outside the EU (-8.2 percent). Considering the first five months of the year, the trade deficit widened to EUR 9.421 billion from EUR 8.086 billion in the same period of 2018, with imports and exports advancing 8.9 percent and 4.4 percent, respectively.


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.

Greece Trade Last Previous Highest Lowest Unit
Balance of Trade -1608.00 -1966.90 -619.80 -4328.60 EUR Million [+]
Current Account -1392.10 -673.40 2656.80 -4730.30 EUR Million [+]
Current Account to GDP -1.10 -1.00 -0.10 -15.20 percent [+]
Imports 4320.40 4832.10 6219.50 1919.00 EUR Million [+]
Exports 2712.40 2865.20 3202.10 691.90 EUR Million [+]
External Debt 445385.36 423049.04 453124.10 142217.00 EUR Million [+]
Capital Flows -524.04 -311.85 6037.70 -3705.40 EUR Million [+]
Remittances 135.10 121.80 247.30 50.10 EUR Million [+]
Gold Reserves 113.40 113.31 132.56 107.21 Tonnes [+]
Terrorism Index 4.17 4.29 5.91 3.43 [+]
Tourism Revenues 313.80 1441.70 4104.40 109.00 EUR Million [+]
Tourist Arrivals 531055.00 1681571.00 3881988.00 140107.00 persons [+]
Foreign Direct Investment 261.10 574.80 2608.90 -532.30 EUR Million [+]