Greek exports kicked off 2025 with a dynamic performance, recording a 9.9% increase excluding petroleum products and a 2.2% rise overall, solidifying their presence in international markets.
According to data from the Panhellenic Exporters Association (PEA) and the Centre for Export Research and Studies (CEEM), based on provisional records from ELSTAT, total exports in January 2025 climbed to €4.1 billion, up from €4.01 billion in the same period of 2024. When excluding petroleum products, the increase was even more pronounced, reaching 9.9%, with export values totaling €2.96 billion.
However, imports also saw a rise, increasing by 4.7% to €6.91 billion. This led to an 8.5% widening of the trade deficit to €2.81 billion. Notably, excluding petroleum products, the trade deficit expanded by 9.8%, reflecting an ongoing challenge for the Greek economy.
Strong Performance Across Geographical Markets
A closer look at geographical trends reveals a mixed picture. Exports to European Union countries increased by 1.9%, while exports to third countries grew by 2.6%. When petroleum products are excluded, the growth rate improves significantly: exports to the EU rose by 9%, and exports to third countries surged by 11.8%, highlighting the diversification of Greek exports.
Despite a slight dip in the EU’s share of total Greek exports—falling from 55.5% in 2024 to 55.3%—exports to third countries now account for 44.7% of total exports. When petroleum products are excluded, the EU remains the dominant market at 67.2%, while third countries account for 32.8%.
Leading and Lagging Sectors
Several sectors demonstrated robust growth, particularly food exports, which soared by 19.1%. Other strong performers included industrial products (+9.7%), beverages and tobacco (+12.7%), raw materials (+25%), and miscellaneous manufactured goods (+7.9%).
Conversely, certain industries faced setbacks. Exports of petroleum products and fuels dropped by 7%, while machinery (-8.1%), chemicals (-1.5%), and oils (-5%) also saw declines. The downturn in energy exports aligns with global market volatility, whereas the dip in machinery and chemicals suggests emerging industrial sector challenges.
Future Challenges and Strategic Outlook
Despite the positive start to the year, the increase in imports raises concerns about the sustainability of export growth. PEA President Alkiviadis Kalambokis emphasised the need for Greek businesses to expand into new markets.
“The impressive rise in exports, particularly excluding petroleum products, is an encouraging sign. However, the concurrent increase in imports poses challenges. Our strategy should prioritize strengthening exports to third countries to narrow the trade deficit and bolster Greece’s economic competitiveness,” Kalambokis stated.
As 2025 unfolds, the challenge for Greek exporters will be to maintain momentum while extending their reach beyond the European Union. Diversifying export markets will be key to ensuring resilience against international economic fluctuations and securing long-term growth for Greece’s foreign trade sector.
(Source: Fortune Greece)