Bilateral trade between Greece and Germany reached €12.05 billion in 2024,
Bilateral trade between Greece and Germany reached €12.05 billion in 2024, marking a 3.8% increase compared to 2023, according to the latest annual report from the Greek Embassy in Berlin. The growth moved Greece up two positions, making it Germany’s 37th largest trading partner worldwide.
While total trade expanded, the imbalance remains stark. Greek exports to Germany rose 5.2% to €3.42 billion, but imports from Germany grew 3.5% to €8.63 billion, leaving Greece with a trade deficit of €5.2 billion. Greek goods covered only 39.6% of imports from Germany, underlining a long-standing gap in value and composition.
Strong in food and niche products, weak in high-tech
Pharmaceuticals remained Greece’s top export despite a 14% drop, followed by cheese — mostly feta — at 7.8% of the total. Olive oil exports surged by 39.2%, while fresh fruit, preserved vegetables, and aluminium products also performed strongly. Notable spikes were recorded in tobacco products (+361%) and optical and laser equipment (+152%), signalling gradual diversification.
However, many Greek exports are labour-intensive goods facing stiff competition from lower-cost producers. By contrast, German exports to Greece are dominated by high value-added industrial products.
Services and investment
Germany is Greece’s second most important trading partner after
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