Greece: Trade balance, percent of GDP
* indicates monthly or quarterly data series
Greece |
Trade balance as percent of GDP |
---|---|
Latest value | -4.93 |
Year | 2023 |
Measure | percent |
Data availability | 1960 - 2023 |
Average | -7.20 |
Min - Max | -12.61 - -1.02 |
Source | The World Bank |
The latest value from 2023 is -4.93 percent, an increase from -9.72 percent in 2022. In comparison, the world average is -3.03 percent, based on data from 137 countries. Historically, the average for Greece from 1960 to 2023 is -7.2 percent. The minimum value, -12.61 percent, was reached in 2008 while the maximum of -1.02 percent was recorded in 2015.
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The trade balance for Greece and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
Selected articles from our guide:
What factors determine the exchange rates
International lending and sovereign debt
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Related indicators | Latest | Reference | Measure |
---|---|---|---|
Terms of trade | 95.61 | 2021 | percent |
Trade openness | 94.66 | 2023 | percent |
Financial openness | 2.299 | 2021 | index points |
Exports, percent of GDP | 44.87 | 2023 | percent |
Exports, billion dollars | 106.88 | 2023 | billion U.S. dollars |
Growth of exports | 3.67 | 2023 | percent |
Imports, percent of GDP | 49.80 | 2023 | percent |
Imports, billion dollars | 118.62 | 2023 | billion U.S. dollars |
Foreign Direct Investment, percent of GDP | 2.09 | 2023 | percent |
Foreign Direct Investment, billion dollars | 7.95 | 2022 | billion U.S. dollars |
Portfolio investment inflows, equities | 1,649.01 | 2023 | million dollars (current) |
Current account, percent of GDP | -6.30 | 2023 | percent |
Current account, in dollars | -15.06 | 2023 | billion U.S. dollars |
Trade balance, percent of GDP | -4.93 | 2023 | percent |
Trade balance, in dollars | -11.27 | 2023 | billion U.S. dollars |
Reserves | 13.61 | 2023 | billion U.S. dollars |
Remittances, percent of GDP | 0.22 | 2023 | percent |
Remittances | 530.09 | 2023 | million U.S. dollars |
Net errors and omissions | 2,322.59 | 2023 | million USD |
Foreign exchange reserves | 13.86 | 9/2024 | billion |