The Greek Exporters’ Association (SEVE) appears cautiously optimistic about the impact of Trump’s tariffs on the Greek economy. More specifically, the Association said that “there will be some minor impact on the Greek economy.”
In particular, as stated in a SEVE announcement, “these tariffs, which are imposed horizontally on all imported products from the European Union, may harm the competitiveness of certain sectors of the European economy. However, the impact on the Greek market is expected to be limited, without significantly affecting the economy.”
Limited economic dependence on the US
According to data from the Institute of Export Research and Studies, Greek exports to the United States amounted to 2.41 billion euros in 2024, recording an increase of 13.9% compared to 2023 and 20.7% compared to 2020. Despite this positive trend, exports to the US represent only 1% of Greece’s GDP, which indicates limited economic dependence on the American market. Consequently, the imposition of these tariffs, although expected to have negative consequences on our export sector, is not expected to have significant impacts, but only to a very small extent.
Exports to the US – Oil products are high
At a sectoral level, food and beverages constitute the largest export sector to the US, with a share of 30.6%, followed by petroleum products with 22.8% and industrial goods with 16.5%.
The olive sector is rather important for the Greek export sector is the US market, as in 2024 Greek olive exports to the US amounted to 201.6 million, representing approximately 26% of total olive exports (761 million).
This demonstrates the strategic importance of the US market for this sector, as it remains one of the most dynamic destinations for Greek products.
Search for alternative markets
SEVE is closely monitoring developments and is in collaboration with the government, the relevant ministries, the US embassy and European institutions, firmly supporting Greek extroverted entrepreneurship and the principles of free trade, with the expectation of a beneficial negotiation. During President Trump’s first term in 2019, tariffs were imposed on European products in the food and beverage sector, however, thanks to the coordinated efforts of SEVE, Greece managed to be exempted from the imposition of these tariffs on canned peaches and feta cheese.
Finally, the search for alternative markets is considered particularly important, especially for Greek products whose competitiveness will decrease. In this context, SEVE President Symeon Diamantidis recently met with the Canadian Ambassador to Greece, with whom he discussed the prospects for strengthening bilateral cooperation.
