Greece: 66.1% drop in exports to Russia – 91% drop to Ukraine

The exports of products from Greece to Russia recorded a large decrease for March, while on the contrary, the imports of products from Russia to our country moved, according to the data published by ELSTAT. The Hellenic Statistical Authority (ELSTAT) responding to the need for the provision of specialized statistical information due to the ongoing developments linked to the war in Ukraine announceδ bilateral trade data between Greece and Russian Federation (henceforth Russia) and between Greece and Ukraine.

I. BILATERAL TRADE GREECE-RUSSIA

In March 2022 the imports value of Greece from Russia was 532.8 million euros, recording an increase of 69.1% in comparison with March 2021 when it was 315.1 million euros. The exports value of Greece to Russia in March 2022 was 5.4 million euros, recording a decrease of 66.1% in comparison with March 2021 when it was 16.0 million euros. The trade balance between Greece-Russia in March 2022 was negative and amounted to 527.4 million euros (deficit).

During the period January-March 2022 the imports value of Greece from Russia was 1,694.1 million euro, recording an increase of 131.4% in comparison with the period January-March 2021 when it was 732.0 million euros. The exports value of Greece to Russia during the period January-March 2022 was 34.2 million euros, recording a decrease of 15.8% in comparison with the period January-March 2021 when it was 40.6 million euros. The trade balance between Greece-Russia during the period January-March 2022 was negative and amounted to 1,659.9 million euros (deficit).

In 2021, 656 Greek enterprises had imports from Russia and 639 Greek enterprises had exports to Russia. The total imports value of Greece from Russia in 2021 was 4,302.4 million euros, recording an increase 46.7% in comparison with the respective total value of the year 2020 when it was 2,933.5 million euros. The total exports value of Greece to Russia in 2021 was 206.6 million euros recording an increase of 28.0% in comparison with the corresponding total value of the year 2020 when it was 161.4 million euros. The trade balance between Greece and Russia in year 2021 was negative and amounted to 4,095.8 million euros (deficit).

II. BILATERAL TRADE GREECE-UKRAINE

In March 2022 the imports value of Greece from Ukraine was 10.0 million euros, recording a decrease of 45.0% in comparison with March 2021 when it was 18.2 million euros. The exports value of Greece to Ukraine in March 2022 was 1.0 million euros, recording a decrease of 91.0% in comparison with March 2021 when it was 10.8 million euros. The trade balance between Greece – Ukraine in March 2022 was negative and amounted to 9.0 million euros (deficit).

During the period January – March 2022 the imports value of Greece from Ukraine was 54.3 million euros, recording an increase of 33.5% in comparison with the period January – March 2021 when it was 40.7 million euros. The exports value of Greece to Ukraine during the period January – March 2022 was 24.2 million euros, recording an increase of 5.2% in comparison with the period January – March 2021 when it was 23.0 million euros. The trade balance between Greece – Ukraine during the period January – March 2022 was negative and amounted to 30.1 million euros (deficit).

In 2021, 494 Greek enterprises had imports from Ukraine and 581 Greek enterprises had exports to Ukraine. The total imports value of Greece from Ukraine in 2021 was 198.4 million euros, recording an increase 10.8% in comparison with the corresponding total value in 2020 when it was 179.0 million euros. The total exports value of Greece to Ukraine in 2021 was 338.8 million euros recording an increase of 74.9% in comparison with the respective total value in year 2020 when it was 193.7 million euros. The trade balance between Greece and Ukraine in 2021 was positive and amounted to 140.4 million euros (surplus).