The following list shows the top 10 general product categories under which Greece racked up the severest trade deficits during 2014.

1. Mineral fuels including oil: -US$7.6 billion (24.3% of all product deficits)
2. Ships, boats: -$2.3 billion (7.3%)
3. Pharmaceuticals: -$2.1 billion (6.7%)
4. Machinery: -$2.1 billion (6.6%)
5. Vehicles : -$1.9 billion (6%)
6. Electronic equipment: -$1.6 billion (5.3%)
7. Meat: -$1.3 billion (4.1%)
8. Organic chemicals: -$1 billion (3.1%)
9. Paper: -$776.7 million (2.5%)
10. Plastics, plastic articles: -$686.1 million (2.2%)

The above top 10 product categories represent 68% of Greece’s overall product-category deficit subtotal which amounted to -$31.3 billion. For that subtotal, 81 of Greece’s 97 general product categories incurred deficits in 2014 while the remaining 16 categories delivered surplus amounts.

Greece deepened its trade deficit amounts at the greatest-pace during 2010 to 2014 under the product categories below.

1. Vegetable plaiting materials: Up 362.9% since 2010 (-US$6.9 million)
2. Lead: Up 277.5% (-$28.2 million)
3. Inorganic chemicals: Up 133.5% (-$25.8 million)
4. Other base metals: Up 78.4% (-$22.8 million)
5. Other animal-origin products: Up 68.8% (-$25.2 million)
6. Sugar, sugar confectionery: Up 62.5% (-$205.4 million)
7. Coffee, tea, spices: Up 46.5% (-$225.2 million)
8. Fertilizers: Up 40% (-$164 million)
9. Modified starches, enzymes: Up 23.6% (-$93 million)
10. Gums, resins, vegetable saps: Up 22.4% (-$4.6 million)

From the perspective of the more detailed 4-digit harmonized tariff system (HTS) level, below are 15 products that pushed Greece into the most costly deficits versus its international trade partners.

1. Crude oil: -US$14.9 billion
2. Cruise/cargo ships, barges: -$2.3 billion
3. Medication mixes in dosage: -$1.6 billion
4. Petroleum gases: -$1.1 billion
5. Cars: -$1.1 billion
6. Swine meat: -$557.9 million
7. Fresh or chilled beef: -$486.3 million
8. Ethylene polymers: -$464.2 million
9. Phone system devices: -$449.1 million
10. Electrical energy: -$431.8 million
11. Computers, optical readers: -$415.1 million
12. Blood fractions (including antisera): -$385.3 million
13. Refined copper, unwrought alloys: -$377.1 million
14. Hot-rolled iron or non-alloy steel products: -$339.4 million
15. Automobile parts/accessories: -$319 million

Among these, crude oil had the fastest-growing Greek deficit accelerating by 34.4% since 2010. In second place were ethylene polymers up 16.8% while negative net exports for petroleum gases appreciated by 14.9%.

The following list presents trade partners with which Greece racked up the highest trade deficits in 2014.

1. Russia: -US$6 billion (15.5% of Greek country-specific deficits)
2. Iraq: -$5.1 billion (13.4%)
3. Germany: -$3.8 billion (10%)
4. Kazakhstan: -$3.2 billion (8.3%)
5. China: -$2.9 billion (7.7%)
6. Netherlands: -$2.5 billion (6.6%)
7. France: -$2 billion (5.1%)
8. South Korea: -$1.6 billion (4.1%)
9. Italy: -$1.4 billion (3.6%)
10. Belgium: -$1.3 billion (3.4%)

The above 10 trade partners represent 77.6% of Greece’s subtotal deficit of -$38.5 billion from the 98 geographic entities with which Greece demonstrated strong import demand. That subtotal excludes the 120 geographic entities with which Greece earned trade surpluses.

Greece grew its trade deficit amounts with the geographic entities below at the fastest-pace during 2010 to 2014, providing evidence of accelerating demand for exports from these international suppliers.

1. Azerbaijan: Up 141,157% since 2010 (-US$495.8 million)
2. Laos: Up 10,367% (-$628,000)
3. Sudan (North + South): Up 1,141% (-$13.8 million)
4. Cambodia: Up 841.9% (-$21.1 million)
5. Turkmenistan: Up 579.3% (-$19.5 million)
6. Iraq: Up 497.4% (-$5.1 billion)
7. Trinidad/Tobago: Up 379.7% (-$5.5 million)
8. Namibia: Up 360.2% (-$5.6 million)
9. Costa Rica: Up 249.9% (-$21.8 million)
10. Nepal: Up 168.9% (-$570,000 million)

From the above list, Greece mostly showed major product sales disadvantages versus this group of traders with comparatively small populations and for generally small deficit amounts. However, Greece did generate negative trade balances over 5 billion dollars with Iraq almost half a billion dollars with Azerbaijan.

Below are the products that resulted in the greatest Greek deficits in international trade with Russia.

1. Crude oil: -US$2.8 billion (43.3% of Greece’s deficit vs. Russia)
2. Processed petroleum oils: -$2.5 billion (38.6%)
3. Petroleum gases: -$696.8 million (10.9%)
4. Aluminum (unwrought): -$272.4 million (4.3%)
5. Wheat: -$46.2 million (0.7%)
6. Nitrogenous fertilizers: -$12.7 million (0.2%)
7. Miscellaneous raw furskins: -$12.1 million (0.2%)
8. Corn: -$12 million (0.2%)
9. Lignite: -$11 million (0.2%)
10. Newsprint (rolls or sheets): -$10.9 million (0.2%)

Among these, nitrogenous fertilizers had the fastest-growing Greek deficit with Russia accelerating by 654.3% from 2010 to 2014. In second place was unwrought aluminum up 77.9% followed by processed petroleum oils increasing by 40.7%.

Only one product accounted for Iraq generating a -$5.2 billion trade deficit for Greece: crude oil.

That figure represents a 101% increase in Greece’s trade deficit against Iraq during 2012 when it was $2.3 billion.

Below are the products that resulted in the greatest Greek deficits in international trade with Germany.

1. Medication mixes in dosage: -US$533.6 million (13.9% of Greece’s deficit vs. Germany)
2. Cars: -$380.2 million (9.9%)
3. Automobile parts/accessories: -$136.5 million (3.6%)
4. Phone system devices: -$121.4 million (3.2%)
5. Swine meat: -$117.5 million (3.1%)
6. Blood fractions (including antisera): -$116.5 million (3%)
7. Concentrated/sweetened milk, cream: -$99 million (2.6%)
8. Heterocyclics, nucleic acids: -$90.6 million (2.4%)
9. Computers, optical readers: -$78.6 million (2.1%)
10. Electro-medical equip (e.g. xrays): -$69.4 million (1.8%)

Among these, cars had the fastest-growing Greek deficit with Germany accelerating by 126.5% from 2010 to 2014. In second place were phone system devices up 87.6% followed by swine meat increasing by 35.8%.