Greek exports poised for new era amid changing world trade

Greece’s exports of agricultural, industrial and consumer goods are poised for a new era of growth amid a changing international trading environment. Despite challenges, non-oil merchandise exports continue to build on a decade-long export boom, with the promise of new overseas markets and new government initiatives in the years ahead.

The Greek government will soon announce its first five-year National Extroversion Strategy, outlining plans to boost Greece’s international commercial and economic presence through 2030. For this year alone, the 2026 extroversion program details 760 investment and export-related initiatives across 70 countries and markets.

And, earlier this month, European Union leaders signed a long-awaited trade agreement with the four Mercosur countries of South America after 25 years of negotiations. When ratified, the EU-Mercosur deal will establish one of the world’s largest free trade zones, covering over 700 million people and more than €100 billion in annual trade. The deal is seen as Europe’s response to both new U.S. tariff policies and China’s increasing penetration of Latin American markets.

The current value of two-way trade between Greece and the Mercosur nations—which include Brazil, Argentina, Uruguay and Paraguay—is estimated at approximately €2.6 billion. Greek exports of transport services, namely shipping, accounts for the lion’s share of Greek exports, or €1.5 billion. But Greek merchandise exports remain modest, with food and beverage exports of just €34.3 million and with many products subject to tariffs as high as 55%. With the new trade agreement, numerous tariffs will be significantly decreased, and some will be removed entirely. Just as importantly, the agreement will provide designated origin protection for 21 Greek F&B products, including signature exports like feta cheese, Kalamata olives, several olive oils, Kozani saffron, mastic, tsipouro and select wines, among other items.

Vast new markets in Latin America will help further support the growth in Greek exports. In the last decade, Greek exports of non-petroleum products have almost doubled from €18.3 billion in 2015 to a record high of €36.2 billion in 2024. And for the eleven months to November last year, exports of non-oil products were up 2.1% on year with across-the-board growth in almost every product category including food, industrial items, pharmaceuticals and chemicals.