North Macedonia-Greece Bilateral Trade Analysis 2023
Complete trade statistics: $1.57B total volume •North Macedonia deficit: $864.16M
North Macedonia → Greece
$351.37M
Exports (2023)
Greece → North Macedonia
$1.22B
Imports (2023)
Trade Balance
$864.16M
Deficit for North Macedonia
Total Trade
$1.57B
Combined Volume
Trade Flow Visualization
Direct trade relationship between North Macedonia and Greece. Green line shows exports from North Macedonia, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the North Macedonia-Greece commercial relationship and competitive positioning in global markets.
North Macedonia → Greece Exports
Export Market Intelligence
🎯 Strategic Export Focus
North Macedonia's export portfolio to Greece demonstrates strategic specialization, with electrical energy representing a key competitive advantage in this bilateral market.
Greece → North Macedonia Imports
Import Dependency Profile
📦 Import Strategy Analysis
North Macedonia's import pattern from Greece reveals significant dependencyin 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, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
North Macedonia demonstrates competitive strength in exportingelectrical energy to Greece, 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: North Macedonia-Greece Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $1.57 billionrepresenting a significant bilateral economic relationship
- Trade Balance: North Macedonia maintains a deficit of $864.16 million
- Export Focus: North Macedonia's primary exports 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
- Import Dependencies: Key imports from Greece 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
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 North Macedonia leveraging its comparative advantages in electrical energy.
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
North Macedonia's specialization in electrical energycomplements Greece's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly 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.
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 electrical energy and 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 demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
North Macedonia's trade deficit of $864.16 million impacts 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 North Macedonia and Greece represents a total trade volume of $1.57 billion in 2023. This partnership demonstrates an unfavorable trade balance for North Macedonia, with imports exceeding exportsby $864.16 million.
Export Strengths
North Macedonia's exports to Greece total $351.37 million, with competitive advantages in electrical energy, representing $103.30M or29.4% of bilateral exports.
Import Dependencies
Imports from Greece amount to $1.22 billion, highlighting economic interdependence 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, 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 comprising67.0% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates North Macedonia's strategic sourcing from Greece. 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 North Macedonia and Greece in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023