The bilateral trade between Greece and France increased by 22.6% during the nine months of January-September 2021 compared to the corresponding period of last year. According to provisional data from the Greek Statistical Authority, compiled by the Office of Economic and Commercial Affairs of the Greek Embassy in Paris, the trade volume of the two countries amounted to 3.4 billion euros.
Greek exports continued their upward trend, recording an impressive increase of 16.49% compared to the first nine months of 2020 and amounted to 1.466 billion euros. Greece’s imports from France increased by 22.6% and amounted to 1.855 billion euros. As a result, the trade balance, which remains in deficit for our country reached 389 million euros.
Exports to France
The increase in Greek exports to France in the first nine months of 2021 is mainly due to the increase in the value of exports of packaged drugs, which reached 721 million euros, continuing its upward trend with an increase of 21.68% compared to in the first nine months of 2020, occupying a share of about half of our country’s total exports to France (49%).
Copper pipes follow with an export value of 65.7 million euros, dramatically increased by 54.4% and a share of 4.5%, the metal plates and strips, made of aluminum alloys, etc., with an export value of 42 million euros, an increase of 5.83% and a share of 2.9%, cheeses (excluding fresh cheeses, including whey cheese) with an export value of EUR 37 million, an increase of 52.29% and a share of 2.54% and sea bream, with an export value of 28 million euros, an increase of 10.9% and a market share of 1.9%.
As concerns agricultural food products, a significant increase was recorded in cheese exports, by 52.29% and a value of 32.2 million euros, of olives prepared or preserved without vinegar or acetic acid, with an increase of 14.91% and an export value of 12.1 million as well as yogurt by 18.40% and export value of 11.2 million euros.
In addition, the category “Olive oil and derivatives”, there is a significant increase with percentage change of 184% and 26.11% and export value of 8.9 million euros and 1.09 million euros respectively.
Imports from France
In terms of products imported from France, the 1st place is occupied by pharmaceuticals with a share of 7.1%, an increase of 1.51% and a value of imports of 133 million euros. It is followed by beef, with a share of 3.3%, a decrease of 7.48% and a value of imports of 62.2 million euros, and liquefied natural gas with a share of 2.4% and a value of imports of 45 million euros, which enters for first time as a category.
The top five are rounded out by mineral oils with a share of 2%, an increase of 256% and an import value of 36.3 million euros, as well as beauty products, with an increase of 15.71%, an import value of 35 million euros and a share of 1.9%.
It is worth noting that French exports to Greece show a significantly higher degree of differentiation than Greek exports to France, as the first 20 French products imported by our country in the first nine months of 2021 correspond to 34.5% of total Greek imports from France.
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