Trade Policy and Regulations in Greece
Foreign Trade in Figures
Greece has an export-oriented economy, trade representing more than 50% of the GDP. The trade balance is negative and has worsened as an effect of the fall in exports caused by the recession. However, the Greek Minister of Finance recently stated that the figures for the first quarter of 2011 showed a significant recovery in exports.
Greece's main trading partners are the European Union (especially Italy and Germany) and the United States.
|Foreign Trade Indicators||2006||2007||2008||2009||2010|
|Imports of Goods (million USD)||63,619||76,247||89,681||67,775||50,694|
|Exports of Goods (million USD)||20,749||23,580||25,651||20,469||20,919|
|Imports of Services (million USD)||15,872||19,692||24,288||19,441||19,797|
|Exports of Services (million USD)||35,490||42,794||49,804||37,385||37,071|
|Imports of Goods and Services (Annual % Change)||10||10||4||-19||-|
|Exports of Goods and Services (Annual % Change)||5||6||-||-||-|
|Trade Balance (million USD)||-44,285||-57,050||-65,046||-42,836||-|
|Current Account (million USD)||-29,565||-44,587||-51,313||-35,913||-|
|Foreign Trade (in % of GDP)||56||57||59||48||-|
|Imports of Goods and Services (in % of GDP)||33||35||36||29||-|
|Exports of Goods and Services (in % of GDP)||23||23||23||19||-|
Source: WTO - World Trade Organization ; World Bank
Main Partner Countries
(% of Exports)
|United Arab Emirates||1.0%|
|Other partnersClose extended list||59.4%|
(% of Imports)
|Other partnersClose extended list||58.5%|
- Main International Economic Cooperation
- Member of
World Trade Organisation
- Assessment of Commercial Policy
The WTO pages dedicated to Greece
Barriers to exchanges
- Average Customs Duty (Excluding Agricultural Products)
- Following Greece’s entry into the EU, cross border trading is no longer subject to strict controls. Transactions between residents of EU member states are not considered imports or exports and therefore they are not charged any duty. Sales to purchasers registered for VAT in EU member states are not subject to VAT in Greece provided that there are the VAT registration numbers of the supplier and purchaser on the invoice.
- Useful Resources
Greek Customs Office
- National Organization of Intellectual Property
- The Hellenic Industrial Property Organisation (OBI).
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Although the European Union is a customs union with a Community Customs Code and a harmonized tariff system for product classification, customs administration is a Member State activity.
U.S. Commercial Service Italy on 30 Sep 2012 related to Trade Policy and Regulations in Greece
2012 Country Commercial Guide for U.S. Companies doing business in Greece.
U.S. Commercial Service on 14 Mar 2012 related to Trade Policy and Regulations in Greece
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U.S. Department of Commerce, Italy
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