Greece’s exports rose by 14.9% in the January-July 2026 period, reaching €32.7558 billion, according to an analysis by the Export Research and Studies Centre of the Panhellenic Exporters Association (PSE), based on provisional data from the Hellenic Statistical Authority (ELSTAT).
Exports increased by €4.26 billion compared with the same seven-month period in 2025. Excluding petroleum products, exports reached €23.6666 billion, up 6.9%, while exports excluding both petroleum products and ships rose 6.7% to €23.5442 billion.
Exports exceed €5 billion for fourth consecutive month
Exports reached €5.0733 billion in July, compared with €4.3786 billion in July 2025, marking a 15.9% increase.
July marked the fourth consecutive month in which exports exceeded €5 billion and the fifth consecutive month of growth.
Excluding petroleum products, July exports increased 6.3% to €3.5986 billion. Excluding both petroleum products and ships, they rose 6.4% to €3.5782 billion.
Imports increased by 7.2% during the first seven months, reaching €51.8985 billion, compared with €48.3991 billion in the same period last year.
Excluding petroleum products, imports rose 1.9% to €39.7432 billion, while excluding both petroleum products and ships, they increased 2% to €39.4297 billion.
The trade deficit fell by 3.8% to €19.1427 billion, from €19.9009 billion in the first seven months of 2025. Excluding petroleum products, the deficit declined 4.7% to €16.0766 billion, while excluding petroleum products and ships, it fell 4.2% to €15.8855 billion.
The export-to-import coverage ratio also improved, reaching 63.1% from 58.9% a year earlier. Excluding petroleum products, the ratio rose to 59.5% from 56.8%.
Fuel exports drive much of the increase
According to the PSE analysis, petroleum products and fuels recorded a 41% increase, adding €2.86 billion and accounting for around two-thirds — or 67% — of the total increase in exports during the seven-month period.
The non-energy core of exports grew by 6.9%, adding €1.52 billion.
Raw materials led the gains with an increase of 23.2%, followed by food at 10.2% and machinery at 9.8%. Overall, nine of the 10 sectors recorded export growth during the first seven months.
By sector, petroleum products and fuels rose 41% to €9.8326 billion, while food and live animals increased 10.2% to €5.9844 billion. Industrial products rose 5.4% to €4.8093 billion and chemicals increased 5.1% to €4.025 billion.
Machinery exports grew 9.8% to €3.1217 billion, miscellaneous manufactured articles rose 1.7% to €2.2155 billion, and raw materials increased 23.2% to €1.2222 billion.
Beverages and tobacco rose 0.6% to €932.6 million, while confidential products increased 4.8% to €83.6 million. Oils were the only sector to record a decline over the seven-month period, falling 18.7% to €529 million.
In July, exports increased in seven of the 10 sectors. Raw materials rose 40.7%, petroleum products and fuels 42.3%, food and live animals 11%, industrial products 9.3%, chemicals 7%, miscellaneous manufactured articles 8.8% and confidential products 28.2%.
Machinery exports declined 0.3%, beverages and tobacco fell 2.5%, while oils dropped 20%.
EU and third-country exports both rise
Exports to European Union countries increased 10.9% in July to €2.8466 billion, accounting for 56.1% of total exports.
Exports to third countries rose 22.9% to €2.2267 billion, giving them a 43.9% share.
Excluding petroleum products, exports to the EU increased 7.4% in July to €2.3619 billion, while exports to third countries rose 4.4% to €1.2367 billion.
During the first seven months, exports to EU countries increased 15.1% to €18.9922 billion, accounting for 58% of total exports. Exports to third countries rose 14.8% to €13.7636 billion, with a 42% share.
Excluding petroleum products, exports to the EU rose 8.7% to €15.931 billion, while exports to third countries increased 3.3% to €7.7356 billion. The respective shares stood at 67.3% and 32.7%.
PSE warns of cost pressures
The PSE identified high energy and transport costs, supply-chain disruptions and the euro-dollar exchange rate as factors putting pressure on exporters’ profit margins.
The association also highlighted deeper penetration of non-energy products into third-country markets as the next major challenge for Greek exporters.
Its roadmap to 2030 has two main objectives: expanding Greece’s export base so that more small and medium-sized enterprises can establish an international presence, and shifting the export mix towards higher-value products.
The PSE called on the government to provide a stable tax and regulatory environment, faster customs procedures and better infrastructure, liquidity and export-credit insurance tools, as well as practical support for exporters’ day-to-day operations.
PSE president highlights US trade
PSE President Alkiviadis Kalabokis said July demonstrated the “consistency” of Greek export performance, with exports exceeding €5 billion for the fourth consecutive month and increasing for the fifth consecutive month.
He said the seven-month performance, with exports up 14.9% and exceeding €32.7 billion, represented a sustained growth trajectory rather than a one-off strong result.
Kalabokis also highlighted the breadth of the increase, noting that nine out of 10 sectors recorded growth and that the non-energy core of exports increased by 6.9%, led by raw materials, food and machinery.
He pointed to digital transformation, electronic invoicing and data-analysis tools as factors helping small and medium-sized businesses target new markets. He described supply-chain digitalisation as a new source of competitiveness.
Kalabokis also stressed the importance of Greece’s trade relationship with the United States. Greek exports to the US increased 16.3% during the first seven months of 2026, reaching €1.59 billion from €1.37 billion.
At the same time, imports from the US increased 57.1%, reaching €2.23 billion from €1.42 billion.
He said the wider trade deficit with the US did not indicate weak Greek exports, which continued to grow, but mainly reflected Greece’s energy and technological dependence on the United States.
Kalabokis warned, however, that the positive figures should not lead to complacency.
“High energy and transport costs, supply-chain disruptions and the euro-dollar exchange rate are squeezing margins,” he said, while deeper penetration of non-energy products into third countries remains a major challenge.
He said the PSE’s 2030 roadmap, submitted to the Prime Minister ahead of the Thessaloniki International Fair, aims to expand Greece’s export base and shift the country’s export mix towards higher-value products.
The PSE president called for a stable tax and regulatory framework, faster customs procedures and infrastructure, liquidity and export-credit insurance tools, as well as practical day-to-day support for exporters.
He said the four-month run above the €5 billion threshold had demonstrated what Greek production can achieve when it combines quality, technology and ambition.
