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EXPORTS
According to Comtrade, Greek exports registered a value of 58 billion USD in 2022. The five main groups of exported products were Mineral Fuels (36.8%), Base Metals (11.0%), Products Agricultural (9.6%), Chemical Products (8.6%) and Machinery and Apparatus (8.2%).
According to Comtrade, Greece's top five customer markets in 2022 were Italy (10.4%), Bulgaria (7.7%), Germany (6.3%), Cyprus (5 .5%) and Turkey (4.6%). These markets together represented 34.5% of the value of exports.
TRADE BALANCE WITH PORTUGAL
According to INE, Greece was the 33rd customer of Portuguese exports of goods in 2022, with a share of 0.3%, occupying the 40th position in terms of imports (0.2%). Over the period 2018-2022, there was an average annual growth in exports of 12.5% and 16.3% in imports. The trade balance of goods was unfavorable to our country, having presented a deficit of 9,641 thousand euros in 2022. In the structure of exports, the highlights are Vehicles and Other Transport Material (22.0%), Cellulose Pulp and Paper (12 .2%), Chemical Products (11.0%), Plastics and Rubber (9.6%) and Food Products (8.0%). The main groups of imported products were Mineral Fuels (26.4%), Plastics and Rubber (17.1%), Agricultural Products (15.2%), Machinery and Apparatus (14.6%) and Chemicals (6.2%).
LEGAL REGULATIONS
Greec is part of:
From the European Union, which is part of a Customs Union (implies free movement of goods between Member States and adoption of the same Union Customs Code for third countries).
From the Single Market (1993), a borderless space that ensures the free movement of goods, services, capital and people within the community.
See: The EU Customs Union | The EU Internal Market
Customs Duties
For customs purposes, the European Union (EU) is considered a single territory, that is, customs duties (or measures of equivalent effect) are not applied to intra-community trade.
VAT (Value Added Tax)
Despite some standardization, particularly at the level of the standard rate and reduced rates, the Member States (MS) are sovereign in their setting. In Greece, the normal rate is 24%, the reduced rate is 13% and the super reduced rate is 6%.
SCT (Special Consumption Taxes)
The rates set by the EU are minimum rates, and EU countries can set higher, variable rates according to the product (e.g.: mineral oils; manufactured tobacco; alcohol; alcoholic beverages). More information in Excise Duties in the EU.
Commercial invoice
As the goods are not subject to customs documentation, the commercial invoice assumes vital importance; this must always indicate the VAT registration numbers of the seller and the purchaser, preceded by the country code (see Q11). The Portuguese seller can validate the VAT number of the community purchaser in the VIES System.