Greece’s Top 10 Imports

Greece's top 10 imports

Kastoria

Greece imported US$56.7 billion worth of goods from around the world in 2017, down by -7.3% since 2013 but up by 19.2% from 2016 to 2017.

As of June 2018, Greece’s import purchases were valued at $32.6 billion up 16.7% compared to the first 6 months of 2017.

Greek imports represent 0.4% of total global imports which totaled $16.054 trillion one year prior in 2016.

From a continental perspective, 61.4% of Greece’s total imports by value in 2017 were purchased from other European countries. Asian trade partners supplied 31.8% of import purchases by Greece while 3.8% worth originated from Africa with 1.7% coming from North America.

Given Greece’s population of 10.8 million people, its total $56.7 billion in 2017 imported goods translates to roughly $5,300 in yearly product demand from every person in the country.

Greece’s Top 10 Imports

Top 10

The following product groups represent the highest dollar value in Greece’s import purchases during 2017. Also shown is the percentage share each product category represents in terms of overall imports into Greece.

  1. Mineral fuels including oil: US$13.8 billion (24.4% of total imports)
  2. Machinery including computers: $3.9 billion (6.9%)
  3. Ships, boats: $3.4 billion (6%)
  4. Pharmaceuticals: $3.3 billion (5.8%)
  5. Electrical machinery, equipment: $2.9 billion (5%)
  6. Vehicles: $2.3 billion (4%)
  7. Plastics, plastic articles: $2 billion (3.5%)
  8. Meat: $1.3 billion (2.3%)
  9. Iron, steel: $1.2 billion (2.1%)
  10. Aluminum: $1.1 billion (1.9%)

Greece’s top 10 imports accounted for 61.9% of the overall value of its product purchases from other countries.

All 10 categories increased in value year over year, led by ships and boats via a 57.8% gain. In second place was imported aluminum (up 29.7%) closely followed by iron and steel (up 28.5%) and mineral fuels including oil (up 28.2%).

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level. Information presented under other virtual folder tabs is at the more granular 4-digit level.

Fuel

In 2017, Greek importers spent the most on the following 10 subcategories of mineral fuels-related products:

  1. Crude oil: US$8.7 billion (up 25.4% from 2016)
  2. Processed petroleum oils: $3.5 billion (up 33.6%)
  3. Petroleum gases: $1.2 billion (up 63.2%)
  4. Electrical energy: $362.4 million (down -18.7%)
  5. Petroleum oil residues: $91 million (up 32.6%)
  6. Coal, solid fuels made from coal: $36.4 million (up 60.3%)
  7. Tar pitch, coke: $7.2 million (up 98.7%)
  8. Peat: $7.1 million (up 4.5%)
  9. Coal tar oils (high temperature distillation): $6.3 million (up 17.9%)
  10. Petroleum jelly, mineral waxes: $5.2 million (down -7.5%)

Among these import subcategories, Greek purchases of tar pitch or coke (up 98.7%), petroleum gases (up 63.2%) and coal including solid fuels made from coal (up 60.3%) grew at the fastest pace from 2016 to 2017.

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

Machinery

In 2017, Greek importers spent the most on the following 10 subcategories of machinery:

  1. Computers, optical readers: US$756.7 million (up 18.3% from 2016)
  2. Air conditioners: $230.3 million (up 17.4%)
  3. Printing machinery: $200.8 million (up 0.3%)
  4. Refrigerators, freezers: $179.5 million (up 7.2%)
  5. Taps, valves, similar appliances: $160.4 million (up 23.6%)
  6. Dishwashing, clean/dry/fill machines: $138.7 million (up 29.6%)
  7. Centrifuges, filters and purifiers: $112.5 million (up 9.5%)
  8. Piston engine parts: $110.3 million (up 14.7%)
  9. Machinery parts: $109.6 million (up 9%)
  10. Air or vacuum pumps: $104.8 million (up 9.6%)

Among these import subcategories, Greek purchases of dishwashing, cleaning, drying or filling machines (up 29.6%), taps, valves or similar appliances (up 23.6%) and computers including optical readers: (up 18.3%) grew at the fastest pace from 2016 to 2017.

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.

Ships

In 2017, Greek importers spent the most on the following subcategories of ships and boats:

  1. Cruise/cargo ships, barges: US$3.3 billion (up 58.6% from 2016)
  2. Yachts, other pleasure/sports vessels: $91.7 million (up 32%)
  3. Tugboats, pusher craft: $17.1 million (up 46.8%)
  4. Rafts, other floating structures: $6.4 million (up 15.3%)
  5. Light vessels, fire boats, floating docks: $4.2 million (up 424,300%)
  6. Warships, lifeboats: $397,000 (down -23.2%)
  7. Fishing or fishery boats: $36,000 (up from nil in 2016)
  8. Breaker vessels: $23,000 (down -34.3%)

The runaway fastest-growing import subcategory is light vessels, fire boats and floating docks spiking from just $1,000 in 2016 to $4.2 million during 2017.

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

Pharma

In 2017, Greek importers spent the most on the following subcategories of pharmaceuticals:

  1. Medication mixes in dosage: US$2.5 billion (up 7% from 2016)
  2. Blood fractions (including antisera): $554.6 million (up 23.2%)
  3. Sutures, special pharmaceutical goods: $72 million (up 16.9%)
  4. Medication mixes not in dosage: $67.4 million (down -24.2%)
  5. Packaged dressings: $60.7 million (down -10.6%)
  6. Dried organs, heparin: $10.5 million (up 15.2%)

Among these import subcategories, Greek purchases of medication mixes in dosage (up 7%), blood fractions including antisera (up 23.2%) and sutures and other special pharmaceutical goods (up 16.9%) grew at the fastest pace from 2016 to 2017.

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



 
See also Greece’s Top 10 Exports, Greece’s Top Trading Partners and Highest Value Greek Import Products

Research Sources:
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on August 31, 2018

The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on August 31, 2018

Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on August 31, 2018