Greek exports reached €3.07 billion, showing growth in the first half of 2025 -excluding petroleum products- resulting in an expansion of €108.8 million.
Read: ELSTAT: Trade balance deficit soars – 33.2% increase in June 2025
Specifically, imports expanded in June 2025 (6.4% or €423.4 million) and reached €7.08 billion, compared to €6.66 billion in the same month of 2024. Excluding petroleum products, goods imports reached €5.73 billion, from €5.17 billion, representing an increase of €560.9 million or 10.9%, according to analysis by the Panhellenic Exporters Association and the Center for Export Research and Studies (CERS), based on preliminary data from ELSTAT.
As a result of these movements, the trade deficit swelled dramatically in the examined month of 2025 by €782.1 million or 33.2%, to €3.14 billion, from €2.36 billion in the corresponding month of 2024. Excluding petroleum products, a smaller increase in the trade deficit is recorded, by €452.1 million (20.5%).
Imports and exports in the first half of the year
Regarding total exports, in the January-June period they decreased by -4.9% and reached €24.11 billion, from €25.36 billion, declining by €1.25 billion compared to the corresponding period of 2024.
Excluding petroleum products, exports for the first half of 2025 reached €18.75 billion, from €17.77 billion, representing an increase of €974.7 million or 5.5%.
Imports (including petroleum products) in the period January-June 2025 decreased, as they were reduced by €1.47 billion or -3.5%, with their total value reaching €40.66 billion, compared to €42.12 billion in the corresponding period of 2024. Excluding petroleum products, imports increased and reached €32.70 billion, from €31.25 billion, strengthening by €1.45 billion or 4.7%.
As a result, the trade deficit in the first half of 2025 decreased slightly, by -1.3%, to €16.54 billion, from €16.76 billion in the first half of 2024. Excluding petroleum products, the trade deficit increased by 3.6% and reached €13.96 billion from €13.48 billion, rising by €479.7 million.
Regarding export trends by geographical regions, in June 2025 there was a decrease in shipments to EU countries (-3.5%) and an even greater decrease to Third Countries (-14.4%). However, when petroleum products are excluded, the picture changes, with exports to EU countries recording growth (4.8%), as well as exports to Third Countries, but at a slower rate (1.5%), compared to the corresponding month last year.
Regarding the percentage of exports directed to EU member state markets, including petroleum products, this increased by 3 units and reached 58.4% compared to 55.4% relative to the corresponding month in 2024. The reverse is true for the percentage of exports to Third Countries, which stood at 41.6% compared to 44.6%. Excluding petroleum products, the share of exports to EU countries stands at 66.9% and to Third Countries at 33.1%.
Export increases in six sectors – decline in three categories
Examining the distribution of exports for the January-June 2025 period, it is found that the total value of exports, including petroleum products, remained roughly at the same levels to EU countries (-0.8%) while to Third Countries it declined by -10%. Excluding petroleum products, exports increase both to EU countries (5.8%) and to Third Countries (4.8%).
Regarding major product categories, in June 2025 increasing trends are recorded in 6 out of the 10 main product sectors. Specifically, percentage declines are recorded in the categories Petroleum-Fuels (-29%), Machinery (-15.3%), Raw Materials (-8.3%) and in the low-value exports of Confidential Products (-65%).
Conversely, significantly increased are exports in the category of Food (10.2%), Industrial (4.3%), Chemicals (4.1%), Miscellaneous Industrial (18%), Beverages and Tobacco (12.5%) and Oils (3.3%), compared to the corresponding month of last year.
Examining the January-June 2025 semester, exports declined in only 3 out of the 10 major product categories: Petroleum-Fuels (-25.8%), Machinery (-0.7%) and the low-value exports of Confidential Products by -75.9%.
At the same time, however, those of Food (11.2%), Industrial (8.4%), Chemicals (2.8%), Miscellaneous Industrial (7.4%), Beverages & Tobacco (12.8%) and Oils (4.5%) appear increased, compared to the corresponding first half of last year. Finally, exports in the Raw Materials category remained practically stagnant with -0.2%.
Worrying increase in trade deficit
The president of the Panhellenic Exporters Association, Alkiviadis Kalambokis, commenting on the above, stated: “The global economic environment is experiencing a new era of geopolitical changes”, new conditions, wars and despite all this, Greek exports held up in the first half of 2025 and recorded a 5.5% increase, excluding petroleum products and a -4.9% decrease, including petroleum products, compared to the first half of 2024″. Greek exports -excluding petroleum products- record a continuous increase from the beginning of the year. More specifically: January increase 9.9%, February 5.8%, March 6.7%, April -2.7%, May 9.1% and June 3.7% compared to the corresponding month last year.
Worrying is the increase recorded in the trade deficit, in June, by 33.2% with petroleum products or by 20.5% without, compared to the corresponding month last year. However, when we examine the semester, we see that there is a slight decline in the trade deficit (with petroleum products) by -1.3% and a small increase (without petroleum products) by 3.6%, compared to the first half of 2024.
Europe is Greece’s main customer with 58.4% of Greek exports, including petroleum products or 66.9% of Greek exports excluding petroleum products, being sent to the EU in June. The increased tariff of 15% for all products and 50% for steel-aluminum products will result in exports to EU countries being hit. The entire European economy will be hit, due to the expected reduction in its exports to the US, so consequently the European consumer will have less purchasing power.
It should be noted that data concerning Greece’s trade with the US show an increase in Greek exports by 4.2%, compared to the first half of 2024 and a decrease in imports by -17.7%. The result is a sharp contraction of the trade deficit by -82.3%, in the first six months of 2025.
The Panhellenic Exporters Association has made very specific and targeted proposals to the State in order to solve chronic problems and strengthen Greek exports. The EU, which is being hit as a whole by US tariffs, is also called upon to take measures to strengthen European exports.
