Greek Trade Deficit Surges to €34.6 Billion in 2024 Amid Export Decline

The Greek trade deficit soared to 34.6 billion euros in 2024 from 32.07 billion euros in 2023, according to data released on Friday, February 2025 by the Hellenic Statistical Authority (ELSTAT). The figures published have raised concerns as imports increased, while exports followed the opposite trend.

The Greek trade deficit expanded significantly in 2024, reaching 34.6 billion euros, up from 32.07 billion euros in 2023, marking a 7.9% increase, according to the released figures.

The total value of imports for the January-December 2024 period stood at 84.52 billion euros, compared to 83.09 billion euros in the same period of 2023, reflecting a 1.7% rise.

Excluding petroleum products, imports surged by 2.24 billion euros , a 3.6% uptick, while the increase excluding both petroleum and ships amounted to 2.23 billion euros reflecting a 3.6% rise.

Conversely, numbers indicate that exports declined, totaling to 49.90 billion euros in 2024, down from 51.02 billion euros in 2023 marking a 2.2% decrease. However, exports excluding petroleum products rose by 819.8 million euros a 2.3% uptick, and those excluding both petroleum and ships saw an 839-million-euro or a 2.4% increase.

As a result, the country’s deficit widened to 34.61 billion euros in 2024. Excluding petroleum, the deficit increased by 1.42 billion euros dropping by 5.4%, while the figure without petroleum and ships rose by 1.39 billion euros reflecting a 5.3% rise.

The growing gap between imports and exports raises concerns about Greece’s trade balance, highlighting the need for policies to boost export performance.