Greece-North Macedonia Bilateral Trade Analysis 2023
Complete trade statistics: $1.57B total volume •Greece surplus: $864.16M
Greece → North Macedonia
$1.22B
Exports (2023)
North Macedonia → Greece
$351.37M
Imports (2023)
Trade Balance
$864.16M
Surplus for Greece
Total Trade
$1.57B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Greece and North Macedonia. Green line shows exports from Greece, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Greece-North Macedonia commercial relationship and competitive positioning in global markets.
Greece → North Macedonia Exports
Export Market Intelligence
🎯 Strategic Export Focus
Greece's export portfolio to North Macedonia demonstrates strategic specialization, with petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils representing a key competitive advantage in this bilateral market.
North Macedonia → Greece Imports
Import Dependency Profile
📦 Import Strategy Analysis
Greece's import pattern from North Macedonia reveals significant dependencyin electrical energy, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Greece demonstrates competitive strength in exportingpetroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils to North Macedonia, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $1.57B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Greece-North Macedonia Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $1.57 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Greece maintains a surplus of $864.16 million
- Export Focus: Greece's primary exports include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, iron or non-alloy steel: semi-finished products of iron or non-alloy steel: containing by weight less than 0.25% of carbon, of rectangular (including square) cross-section, width less than twice thickness, lignite: whether or not pulverised, but not agglomerated, excluding jet
- Import Dependencies: Key imports from North Macedonia include electrical energy, tobacco, (not stemmed or stripped), iron or non-alloy steel: (not in coils), flat-rolled, of a width 600mm or more, hot-rolled, without patterns in relief, of a thickness exceeding 10mm
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $1.57B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Greece leveraging its comparative advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Greece's specialization in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oilscomplements North Macedonia's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in electrical energy.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $1.57B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $1.57B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $1.57 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils and electrical energy demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Greece's trade surplus of $864.16 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Greece and North Macedonia represents a total trade volume of $1.57 billion in 2023. This partnership demonstrates a favorable trade balance for Greece, with exports exceeding importsby $864.16 million.
Export Strengths
Greece's exports to North Macedonia total $1.22 billion, with competitive advantages in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, representing $814.62M or67.0% of bilateral exports.
Import Dependencies
Imports from North Macedonia amount to $351.37 million, highlighting economic interdependence in electrical energy, with Electrical energy comprising29.4% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Greece's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Greece and North Macedonia in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023