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Impact of Russian’s invasion of Ukraine on trade balance

The value of exports of Greece to Russia fell 20.3% to 6.6 million euros in December 2023 in comparison with December 2022

The value of imports of Greece from Russia stood at 98.0 million euros in December 2023, down 88.7% in comparison with December 2022, the Hellenic Statistical Authority (ELSTAT) said.

The value of exports of Greece to Russia fell 20.3% to 6.6 million euros in December 2023 in comparison with December 2022.

The trade balance between Greece-Russia in December 2023 amounted to 91.4 million euros (deficit).

Responding to the need for the provision of specialized statistical information due to the ongoing developments linked to the war in Ukraine, ELSTAT announced bilateral trade data between Greece and Russia as well as between Greece and Ukraine.

During the period January-December 2023, the value of imports of Greece from Russia reached 2,445.9 million euros, down 73.8% in comparison with the period January-December 2022 when it was 9,334.1 million euros.

The value of exports of Greece to Russia during the period January-December 2023 dropped 38.4% to 96.3 million euros in comparison with the period January-December 2022.

The trade balance between Greece-Russia during the period January-December 2023, also negative, reached 2,349.6 million euros (deficit).

As for Ukraine, in December 2023 the value of imports of Greece from Ukraine was 33.3 million euros, down 48.3% in comparison with December 2022 when it was 64.4 million euros. The value of exports of Greece to Ukraine in December 2023 reached 88.0 million euros, up 43.6% in comparison with December 2022 when it was 61.3 million euros.

ELSTAT said that the trade balance between Greece-Ukraine in December 2023 was positive and amounted to 54.7 million euros (surplus).

During the period January-December 2023 the value of imports of Greece from Ukraine stood at 304.1 million euros, up 8.4% in comparison with the period January-December 2022 when it was 280.5 million euros.

The value of exports of Greece to Ukraine during the period January-December 2023 was 830.4 million euros, recording an increase of 142.4% in comparison with the period January-December 2022 when it was 342.6 million euros.

The trade balance between Greece-Ukraine during the period January-December 2023 was positive and amounted to 526.3 million euros (surplus).