Exporting to Greece

Greece and the UK enjoy a close and long-standing relationship. Today, the two countries benefit from flourishing international trade. The total trade in goods and services (exports plus imports) between the UK and Greece was £6.6 billion in the year up to the end of June 2019 (ONS, 2019). This was an increase of 3.1% (or £200 million) during the same period in the previous year (ONS, 2019).

Desire for UK services

In the year to June 2019, Greece was the UK’s 22nd largest services trading partner, and total UK exports amounted to £2.6 billion (ONS, 2019). Of all UK exports to Greece in the year to June 2019, £1.6bn (60.3%) were services, an increase of 3.9% during the same period in the previous year (ONS, 2019).

Import growth

There has been consistent growth in Greece’s demand for imports, with an increase of 8.8% in 2018 (IMF, 2019). This postive trend is expected to continue for the next five years at least (IMF, 2019). UK businesses looking to export could benefit from the demand for international goods and services in Greece.

Demand for goods and services

In the year to June 2019, the top goods exported from the UK to Greece were medicinal and pharmaceutical products, clothing, cars, beverages and telecoms and sound equipment (ONS, 2019). In terms of services, the top services imported by Greece from the UK were transportation, financial services, travel, telecommunications, computer and information services and business services (ONS, 2019). If you operate in any of these industries, Greece could be a good market for you.

Ease of doing business

79th

out of 190 countries (World Bank, 2020))

Currency

Euro

Business languages

Greek, English

GDP per capita

$20,317

UK is $41, 030 (IMF, 2019)

Economic growth

1.9%

(IMF, 2019)

Time zone

GMT +2

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.