Greece imported US$88.6 billion worth of products from around the world in 2023, expanding by 42.5% compared to $62.2 billion 5 years earlier during 2019.

From 2022 to 2023, the total cost of goods imported into Greece fell by -9.6% starting from $98 billion.

Based on the average exchange rate for 2023, Greece uses the euro which depreciated by -3.5% against the US dollar since 2019 but rose 2.6% from 2022 to 2023. The weaker EU currency compared to 2019 made Greece’s imports paid for in stronger US dollars in 2023 relatively more expensive when converted starting from euros.

Domestically, Greece recorded 4.118% inflation in terms of its average consumer prices down from 9.3% in 2022.

Greece’s Best Imports Suppliers

The latest available country-specific data shows that 62.7% of spending on products imported into Greece was collected by exporters in: Germany (10.1% of the Greek total), mainland China (8.4%), Italy (7.5%), Iraq (6.4%), Netherlands (5.9%), France (4.3%), Kazakhstan (4.1%), Spain (3.5%), Bulgaria (3.4%), Türkiye (3.3%), Russia (3%) and Belgium (2.7%).

Applying a continental lens, more than half (56.9%) of Greece’s total imports by value were purchased from fellow European countries. Trade partners in Asia supplied 32.2% of all import purchases made by Greece.

Smaller percentages originated from Africa (6.8%), North America (2.1%), Latin America (1.9%) excluding Mexico but including the Caribbean, then Oceania (0.1%) led by Australia and New Zealand.

Given Greece’s population of 10.46 million people, its total $88.6 billion in 2023 for imported goods translates to roughly $8,500 in yearly product demand from every person in the southern European country. That per-capita metric exceeds the average $10,600 for 2022.

Greece’s Top 10 Imports

The following product groups represent the highest dollar value in Greece’s import purchases during 2023. Also shown is the percentage share each product category represents in terms of overall imports into Greece.

1. Mineral fuels including oil: US$24.6 billion (27.8% of total imports)
2. Machinery including computers: $6 billion (6.8%)
3. Electrical machinery, equipment: $5.9 billion (6.7%)
4. Vehicles : $4.8 billion (5.4%)
5. Pharmaceuticals: $4.4 billion (4.9%)
6. Plastics, plastic articles: $2.8 billion (3.2%)
7. Organic chemicals: $2.4 billion (2.7%)
8. Iron, steel: $1.8 billion (2.1%)
9. Meat: $1.72 billion (1.9%)
10. Optical, technical, medical apparatus: $1.67 billion (1.9%)

Greece’s top 10 import product categories generated almost two-thirds (63.4%) of the overall value of its product purchases from other countries.

Leading Greece’s international purchase increases from 2022 to 2023 were for imported vehicles (up 31%), optical, technical and medical apparatus (up 13.8%) then meat (up 13.4%).

The year-over-year declines were for Greece’s imports of mineral fuels including oil (down -28% from 2022), metals iron and steel (down -22%), and plastics (down -8.5%) both as materials and items made from plastic.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level.

The sections below detail products at the more granular 4-digit HTS code level.

Greece’s Top Mineral Fuels Imports Including Oil

In 2023, Greek importers spent the most on the following 10 subcategories of mineral fuels-related products.

1. Crude oil: US$13.9 billion (down -11.7% from 2022
2. Petroleum gases: $4.8 billion (down -54.3%)
3. Processed petroleum oils: $4.4 billion (down -34.8%)
4. Electrical energy: $1.4 billion (up 39.7%)
5. Petroleum oil residues: $98.5 million (down -35.1%)
6. Coal, solid fuels made from coal: $16.5 million (down -48.9%)
7. Tar pitch, coke: $15.4 million (down -4.6%)
8. Coal tar oils (high temperature distillation): $12.1 million (down -4.8%)
9. Peat: $8.8 million (down -13.5%)
10. Petroleum jelly, mineral waxes: $6.2 million (down -21%)

Among these import subcategories, Greek purchases of electrical energy was the lone gainer from 2022 to 2023 via its 39.7% advance.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported mineral fuels energy among Greek businesses and consumers.

Greece’s Top Machinery Imports Including Computers

In 2023, Greek importers spent the most on the following 10 subcategories of machinery including computers.

1. Computers, optical readers: US$1.3 billion (down -10.5% from 2022
2. Air conditioners: $421 million (down -9.1%)
3. Refrigerators, freezers: $327.6 million (down -1.2%)
4. Taps, valves, similar appliances: $255.9 million (up 11.8%)
5. Miscellaneous machinery: $227.4 million (up 31%)
6. Dishwashing, clean/dry/fill machines: $214.5 million (up 32.2%)
7. Centrifuges, filters and purifiers: $213.5 million (down -5.1%)
8. Printing machinery: $202.9 million (up 0.1%)
9. Air or vacuum pumps: $179.3 million (up 16.5%)
10. Liquid pumps and elevators: $166.6 million (up 9.1%)

Among these import subcategories, Greek purchases of dishwashing, cleaning, drying and filling machines (up 32.2%), miscellaneous machinery (up 31%) then air or vacuum pumps (up 16.5%) grew at the fastest pace from 2022 to 2023.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Greek businesses and consumers.

Greece’s Top Electronics Imports

In 2023, Greek importers spent the most on the following subcategories of electronics.

1. Phone devices including smartphones: US$1.4 billion (up 6.8% from 2022
2. Solar power diodes/semi-conductors: $984.7 million (down -18.4%)
3. Electrical converters/power units: $479.9 million (up 29.1%)
4. Insulated wire/cable: $322.4 million (up 16%)
5. TV receivers/monitors/projectors: $292.8 million (up 2.1%)
6. Electric water heaters, hair dryers: $266.3 million (up 11.4%)
7. Lower-voltage switches, fuses: $209.9 million (up 9%)
8. Electric storage batteries: $184.2 million (up 7.3%)
9. Electric generating sets, converters: $177.3 million (down -0.2%)
10. Microphones/headphones/amps: $174 million (down -19.5%)

Among these import subcategories, Greek purchases of electrical converters and power units (up 29.1%), insulated wire or cable (up 16%) then electric water heaters and hair dryers (up 11.4%) grew at the fastest pace from 2022 to 2023.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Greek businesses and consumers.

Greece’s Top Pharmaceuticals Imports

In 2023, Greek importers spent the most on the following subcategories of vehicles.

1. Cars: US$3.2 billion (up 40% from 2022
2. Automobile parts/accessories: $577 million (up 5.3%)
3. Trucks: $362.9 million (up 34.5%)
4. Motorcycles: $226.7 million (up 18.5%)
5. Tractors: $172.4 million (up 67.2%)
6. Motorcycle parts/accessories: $65.9 million (down -11.8%)
7. Public-transport vehicles: $56.4 million (down -6.9%)
8. Trailers: $52.7 million (up 11.9%)
9. Special purpose vehicles: $42.6 million (up 17.5%)
10. Bicycles, other non-motorized cycles: $10.1 million (down -35.5%)

Among these import subcategories, Greek purchases of tractors (up 67.2%), cars (up 40%) then trucks (up 34.5%) grew at the fastest pace from 2022 to 2023.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Greek businesses and consumers.
 
See also Greece’s Top 10 Exports, Greece’s Top Trading Partners, italy’s Top 10 Exports and Top EU Export Countries

Research Sources:
Central Intelligence Agency, The World Factbook: Country Profiles. Accessed on October 22, 2024

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on October 22, 2024

International Trade Centre, Trade Map. Accessed on October 22, 2024