Trading Partner Portal: Greece
Overview
Trade Overview
Greece is in Southern Europe and borders the Mediterranean Sea. Greece is classified as a high-income country; however, Greece’s economy is recovering from a recession caused by the global financial crisis. Greece has a population of 10.4 million people and a gross domestic product (GDP) of approximately $238.21 billion in 2023. Greece has a diverse economy that benefits from a large public sector. Tourism in Greece accounts for almost 20% of GDP. Greece also benefits from their membership in the European Union. The majority of Greece’s trading partners are in the EU and 3.3% of Greece’s GDP is from EU aid. World Bank, CIA
U.S. – Greece Trade
In 2023, the United States exported $1.79 billion of goods to Greece, the fourth year above $1 billion in several years. Out of the $1.79 billion of goods, $362 million was computer and electronic products, $281 million was oli & gas, $204 Million was transportation equipment, $157 million was chemicals, and $252 million was waste and scrap.
In 2023, the U.S. imported $2.06 billion worth of goods from Greece. The top import was $632 million worth of processed foods. The second key import was primary metals manufactures, which made up $228 million of total imports into the U.S. from Greece. U.S. Department of Commerce
Greece- California Trade
In the United States, California is a top exporting state to Greece. California exported $102 million worth of goods in 2023. Top exports from California included agricultural products at $39 million computer and electronic products at $25 million. Other prominent exports from California to Greece included non-electrical machinery and chemicals.
California is also a top importing state of products from Greece. In 2023, California imported $175 million worth of goods from Greece. The majority of those goods from Greece were processed foods which retained a value of $102 million. The remaining imports included agricultural products, non-electrical machinery, beverages and tobacco products, and non-metallic mineral products. U.S. Department of Commerce
FDI – Greece
In 2023 Greece invested $720 million into the U.S. Conversely, in 2023 the U.S. invested $1.8 billion into Greece. Greek FDI in the U.S. supported 3,700 jobs, $6 million in research and development, and $16 million of expanded U.S. exports. The top industry sectors for Greek FDI were electronic components, food and beverages, software and IT services, renewable energy, communications, and real estate. Select USA
Trade Agreements
Trade Agreements and Issues
Transatlantic Trade and Investment Partnership (TTIP)
Greece is one of the nations that is currently involved in negotiations for the Transatlantic Trade and Investment Partnership (TTIP) with the rest of the European Union and the United States. The United States and the European Union have a strong bilateral trade relationship totaling $698.7 billion in 2015. A free trade agreement, such as TTIP, desires to strengthen that relationship by eliminating tariffs, aligning compatible regulations to open trade, and furthering trade in the service sector.
Transatlantic Trade and Investment Partnership
USTR Transatlantic Trade and Investment Partnership
Events
Events
For more info: Defense Exhibition Athens 2021: USA Pavilion
CalChamber International Forum on the Transatlantic Trade and Investment Partnership
On May 27, 2015, the California Chamber of Commerce held an International Forum on the Transatlantic Trade and Investment Partnership and the Transpacific Partnership with speakers including members of the United States Chamber of Commerce, representatives from five American Chambers of Commerce from abroad, and two ambassadors. Also in attendance was a delegation totaling 25 members of the AmCham community representing Bulgaria, Croatia, Denmark, Estonia, France, Greece, Ireland, Israel, Kosovo, Latvia, Lithuania, Macedonia, Norway, Poland, Romania, Serbia, Slovak Republic, Slovenia, and Turkey.