With around 10.4 million inhabitants, GREECE constitutes an important platform for other markets in the Balkan region, Southeast Europe and the Middle East.
The Greek economy is heavily dependent on the services sector, which represents more than 75% of GDP (GDP per capita of 21,006 USD in 2022), with special emphasis on merchant shipping and tourism. At the industrial level, we should mention, for example, the processing of food products, textiles, chemical products, metallic products and oil refining.
Gross domestic product growth is expected to be 2.4% and 2.6%, respectively, for 2023 and 2024. Average annual GDP growth is expected to be 3.4% for the period 2025-2027, thus that the energy crisis can be alleviated and the negative impact of the Ukrainian War can decrease.
In terms of business opportunities, Greece could be an interesting market for hotels and restaurants, the naval industry, information and communication technologies, civil construction and construction materials, waste and water management, renewable energy, fashion/footwear and clothing, among others.
IMPORTS
According to Comtrade, imports from Greece recorded a value of 98 billion USD in 2022. The five main groups of imported products were Mineral Fuels (34.9%), Machinery and Apparatus (11.9%), Chemicals (10.5%), Common Metals (7.5%) and Agricultural Products (6.8%).
According to Comtrade, Greece's top five suppliers in 2022 were Russia (10.0%), Germany (8.9%), China (8.5%), Iraq (7.3%) and Italy (6.3%). These markets together represented 41.0% of the value of imports.
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