Greek-German investments in fixed capital formation reached 3.7 billion euros in the period 2018-2022, while the total turnover has increased to 10 billion euros in 2022 and the companies employed around 26,000 workers, according to the study of the Foundation for Economic and Industrial Research (IOBE), which it carried out on behalf of the Hellenic-German Chamber of Commerce and Industry, and presented as part of the Chamber’s 100th anniversary event.
The contribution to GDP and jobs
According to the study, for every 1 euro of GDP produced by the Greek-German companies – members of the Chamber, the GDP of Greece increases by a total of 1.6 euros and correspondingly, in terms of employment, every job in the companies of the community supports 2.4 jobs in the entire Greek economy, with the total contribution estimated at 75,000 jobs.
Net direct investments stood at 7.7 billion euros in 2022. In terms of imports, Germany returned to first place in 2023, from second place in 2022, while it ranked third in terms of destinations for Greek exports.
More specifically, exports of Greek products to Germany amounted to 3.3 billion euros in 2023, compared to 3.4 billion euros in 2022 and 2.8 billion euros in 2021.
The value of product imports from Germany to Greece stood at 8.4 billion euros in 2023, compared to 8.4 billion euros in 2022 and 6.9 billion euros in 2021.
Germany’s share in Greece’s total imports stood at 10.4% in 2023, from 9.2% in 2022 and 11% in 2021, while the share of Greece’s exports to Germany increased in 2023 to 6.6%, from 6.4% in 2022 and 7.3% in 2021.
