Greece’s Top 10 Imports

Greece's top 10 imports

Kastoria

Greece imported US$65.1 billion worth of goods from around the world in 2018, up by 4.7% since 2014 and up by 17.7% from 2017 to 2018.

Greek imports represent 0.4% of total global imports which totaled an estimated $17.788 trillion one year prior in 2017.

From a continental perspective, 61.3% of Greece’s total imports by value in 2018 were purchased from fellow European countries. Asian trade partners supplied 32% of all import purchases by Greece while smaller percentages came from Africa (3.9%), North America (1.5%) and Latin America (1.1%) excluding Mexico but including the Caribbean.

Given Greece’s population of 10.8 million people, its total $65.1 billion in 2018 imported goods translates to roughly $6,000 in yearly product demand from every person in the southern European country.

Greece’s Top 10 Imports

Top 10

The following product groups represent the highest dollar value in Greece’s import purchases during 2018. Also shown is the percentage share each product category represents in terms of overall imports into Greece.

  1. Mineral fuels including oil: US$18.9 billion (29.0% of total imports)
  2. Machinery including computers: $4.8 billion (7.4%)
  3. Electrical machinery, equipment: $3.5 billion (5.4%)
  4. Pharmaceuticals: $3.4 billion (5.2%)
  5. Vehicles: $2.8 billion (4.3%)
  6. Plastics, plastic articles: $2.2 billion (3.4%)
  7. Iron, steel: $1.6 billion (2.4%)
  8. Ships, boats: $1.5 billion (2.4%)
  9. Organic chemicals: $1.5 billion (2.3%)
  10. Meat: $1.4 billion (2.1%)

Greece’s top 10 imports accounted for 63.9% of the overall value of its product purchases from other countries.

Leading the increased purchases were for organic chemicals (up 51.4%), mineral fuels including oil (up 36.4%), iron and steel (up 32.4%), machinery including computers (up 29.1%) then vehicles (up 28.4%).

The sole decline was a -55.6% dip for the capital-intensive ships and boats category.

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 2018, Greek importers spent the most on the following 10 subcategories of mineral fuels-related products.

  1. Crude oil: US$12.4 billion (up 43.6% from 2017)
  2. Processed petroleum oils: $4.5 billion (up 30.2%)
  3. Petroleum gases: $1.3 billion (up 5.2%)
  4. Electrical energy: $497.9 million (up 37.7%)
  5. Petroleum oil residues: $96.9 million (up 5.6%)
  6. Coal, solid fuels made from coal: $49.1 million (up 34.3%)
  7. Peat: $8.4 million (up 17%)
  8. Tar pitch, coke: $8.3 million (up 16.2%)
  9. Coal tar oils (high temperature distillation): $6.8 million (up 8.3%)
  10. Petroleum jelly, mineral waxes: $5.2 million (up 0.8%)

Among these import subcategories, Greek purchases of crude oil (up 43.6%), electrical energy (up 37.7%) and coal including solid fuels made from coal (up 34.3%) grew at the fastest pace from 2017 to 2018.

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 2018, Greek importers spent the most on the following 10 subcategories of machinery including computers.

  1. Computers, optical readers: US$1.1 billion (up 42.9% from 2017)
  2. Air conditioners: $258.8 million (up 12%)
  3. Refrigerators, freezers: $212.3 million (up 17.7%)
  4. Taps, valves, similar appliances: $187.8 million (up 16.9%)
  5. Printing machinery: $174.7 million (down -13.3%)
  6. Centrifuges, filters and purifiers: $165.5 million (up 48.2%)
  7. Dishwashing, clean/dry/fill machines: $160.4 million (up 15.8%)
  8. Liquid pumps and elevators: $138.1 million (up 34.7%)
  9. Tobacco-related machinery: $131 million (up 158%)
  10. Miscellaneous machinery: $129.6 million (up 27.5%)

Among these import subcategories, Greek purchases of tobacco-related machinery (up 158%), centrifuges, filters and purifiers (up 48.2%) and computers including optical readers (up 42.9%) grew at the fastest pace from 2017 to 2018.

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.

Electronics

In 2018, Greek importers spent the most on the following subcategories of electronics.

  1. Phone system devices including smartphones: US$896 million (up 19.1% from 2017)
  2. Electric generating sets, converters: $338.2 million (up 56.9%)
  3. TV receivers/monitors/projectors: $281.9 million (up 15%)
  4. Electric water heaters, hair dryers: $181.5 million (up 5.7%)
  5. Electrical converters/power units: $168.9 million (up 61.6%)
  6. Insulated wire/cable: $149.9 million (up 28.5%)
  7. Lower-voltage switches, fuses: $128.1 million (up 19.7%)
  8. Unrecorded sound media: $126.7 million (down -0.5%)
  9. Electric storage batteries: $112.6 million (up 16%)
  10. TV receiver/transmit/digital cameras: $85.3 million (down -6.5%)

Among these import subcategories, Greek purchases of electrical converters and power units (up 61.6%), electric generating sets and converters (up 56.9%) and insulated wire or cable (up 28.5%) grew at the fastest pace from 2017 to 2018.

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.

Pharma

In 2018, Greek importers spent the most on the following subcategories of pharmaceuticals.

  1. Medication mixes in dosage: US$2.4 billion (down -4.2% from 2017)
  2. Blood fractions (including antisera): $688.3 million (up 24.5%)
  3. Medication mixes not in dosage: $97.3 million (up 44.1%)
  4. Sutures, special pharmaceutical goods: $80.3 million (up 11.4%)
  5. Packaged dressings: $69.5 million (up 14.6%)
  6. Dried organs, heparin: $9.6 million (down -9.5%)

Among these import subcategories, Greek purchases of medication mixes in dosage (up 44.1%), blood fractions including antisera (up 24.5%) and sutures and packaged dressings (up 14.6%) grew at the fastest pace from 2017 to 2018.

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



 
See also Greece’s Top 10 Exports, Greece’s Top Trading Partners and Top EU Export Countries

Research Sources:
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on February 20, 2019

The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on February 20, 2019

Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on February 20, 2019