On the occasion of the 10th anniversary in June 2026 of the June 23, 2016 referendum that decided the United Kingdom’s departure from the European Union (BREXIT), the Hellenic Statistical Authority (ELSTAT) is publishing a special report aimed at providing statistical data that can support the assessment of Brexit’s impact on the evolution of bilateral trade in goods between Greece and the United Kingdom. Brexit came into effect on January 1, 2021.
Key questions that can be answered with useful statistical data from ELSTAT’s publication include:
– What was the evolution of the Greece-UK trade balance during 2005-2025 and how was it affected by BREXIT, compared to other EU countries?
– How did the UK’s ranking as a destination country for Greek exports develop, how as a source country for imports to Greece, and what was Brexit’s impact?
– What were Greece’s main export products to the UK, what were Greece’s main import products from the UK, and to what extent did BREXIT bring changes to the categories of major export and import products?
Key findings
During the Brexit decision/implementation period, 2019-2025, Greece’s trade balance in goods with the UK is consistently positive with a general upward trend, while during 2005-2018 it was continuously in deficit. Greek exports to the UK increased significantly in value during 2021-2025, while Brexit does not appear to have affected the UK’s position in the ranking of Greece’s main export destination countries or the categories of main export products.
Conversely, Greek imports from the UK are reduced in value during 2021-2025, compared to the 2005-2020 period, while simultaneously, there is a significant change in the UK’s position in the ranking of main source countries for imports to Greece, although no significant differentiation appears in the categories of main import products. Therefore, Greece appears to have achieved an improvement in its bilateral goods trade with the UK after Brexit.
Trade balance evolution. Greece’s trade balance in goods with the UK in 2005 was in deficit at €808 million and continued growing until 2009 when it reached €1.026 billion. During 2010-2018 it remained in deficit with almost continuous shrinkage of the deficit value. Since 2019, Greece’s trade balance in goods with the UK has been consistently in surplus. Specifically, in 2021, the first year Brexit came into effect, the surplus more than tripled compared to 2020 (from €148 million to €638 million, an annual increase of 330%). Since 2022, the trade surplus in goods between Greece and the UK exceeds €1 billion, having recorded its highest value in 2022 (€1.282 billion). (Table 1, Chart 2).
UK position in the ranking of Greece’s main export and import partner countries. From 2008 to 2025, the UK’s position in the ranking of main destination countries for goods exports from Greece is relatively stable, holding 7th place most often (in 10 years of the 2008-2025 period) and ranging between 6th place (in 4 years of the 2008-2025 period) and 9th place (in 1 year of the 2008-2025 period). From 2008 to 2020, the UK’s position in the ranking of main source countries for goods imports to Greece is relatively stable, holding 13th place most often (in 6 years of the 2008-2020 period) and ranging between 9th place (in 1 year of the 2008-2020 period) and 15th place (in 1 year of the 2008-2020 period). Since 2021, the first year Brexit came into effect, the UK’s position in the ranking of main source countries for goods imports to Greece is noticeably lower, ranging between 21st and 23rd place (Table 2, Chart 3, Chart 4).
Categories of main export and import products in Greece-UK bilateral trade. The main export and import products in Greece-UK bilateral trade remained relatively stable during 2005-2025. In Greek exports to the UK, the main products are Pharmaceuticals, Electricity distribution equipment, Fruits, Petroleum products, Copper, Cheese, Dairy products, Aluminum. In imports from the UK to Greece, the main products are Cars-vehicles, Pharmaceuticals, Beverages, Medical products, Petroleum products, Metal waste, Aluminum and Ships. Since Brexit came into effect in 2021, Pharmaceuticals are no longer among the three main import products from the UK to Greece. (Tables 3 and 4)
