Impact on Greek – French economic relations may have economic crisis that threatens Paris because of Prime Minister Bairo’s appeal to her House France for a confidence vote on September 8, 2025.
It should be noted that France is an important partner of our country at the level of trade, services (eg tourism) and investment and in the event of a crisis it can directly or indirectly affect the economy of Greece.
A photo of the moment in relation to Greece -France’s commercial and investment relations is given by the annual report by the Greek Embassy’s Economic and Commercial Affairs Office in Paris, published in late July 2025.
How did Greece-France Bilateral trade evolve in 2024
A decrease of 1.66% recorded Greece-France bilateral trade in 2024 compared to 2023. According to provisional data from the Hellenic Statistical Authority (ELSTAT), the two-country trade volume of the two countries stood at € 5.4 billion.
Specifically, Greek exports reported a decrease of 18.3% compared to 2023 and stood at € 1.47 billion, while Greece’s imports from France increased by 6.4% and stood at € 3.94 billion. As a result, the trade balance, which remains deficient for our country, reached 2.47 billion euros.
Why have Greek exports decreased to France
In 2024 Greek exports declined significantly (-18.3%), mainly due to the dramatic decline in drug exports (-47.7%) and petroleum (-68.4%), which was one of the most powerful export products in 2023.
At the same time, there is a stability or a slight increase in other areas, such as cheeses (+9.5%) and aluminum products, while biodiesel first appeared as an important export category.
The export structure shows a dependency on a few, volatile sectors, while the decline in exports coupled with the increase in imports has significantly aggravated the country’s trade balance.
Despite the overall retreat, food and metal exports are resistant, highlighting the need to restructure and differentiate export strategy with an emphasis on enhancing competitiveness and innovation.
In six -digit product analysis (CN6), the main exported Greek products are the following: Medicines, worth € 169.4 million, cheeses, except fresh, worth € 80.8 million, copper pipes, worth 76.8 million euros, miles and films of aluminum alloys, worth € 59.8 million.
The course of Greek imports from France
The data shows that Greek imports from France showed a variety of changes per product category in 2024. Imports of drugs increased marginally (+1.84%) and remained the top category, while cars and meat products recorded a slight decline.
An impressive increase was made to the imports of lamps (+96.9%) and air/space equipment (+79.4%), showing possible strengthening of high technology and defense cooperation. Makeup products and ether were also upward.
On the contrary, oil (-55.7%) and iron products (-31.8%) were significantly reduced, possibly due to changes in prices, policies or supply strategy. The overall picture shows a gradual shift in technological and consumer products, while reducing the dependence on energy and heavy industrial goods.
In six -digit product analysis (CN6), the main imported Greek products are the following: Medicines, worth 245.7 million euros, other vehicles, worth € 139.8 million, lighting lamps for reception machines, worth EUR 126 million, ether, worth € 116.1 million, € 116.1 million, € 116.1 million. (330499), worth € 88.9 million, insulin drugs, worth 61 million euros and more.
It is worth noting that French exports to Greece are higher than Greek exports to France, including a wide variety of products from medicines and cosmetics as vehicles and boats, and agri -food products as manufacturing materials. On the contrary, Greek exports are structured mainly around pharmaceuticals, food products (olive oil/fruit/fish/dairy) and industrial – building materials.
Greek exports to France present, at the level of product categories, a similar picture to the previous year, while French exports to Greece have variations in products that occupy the top ten places from year to year.
Trading
Greece records steady surpluses in its balance of services with France. According to available data, in 2024, the surplus of Greece’s balance of service with France recorded a slight reduction of 24.27%compared to 2023, reaching € 1.06 billion.
Greece’s receipts from France reported 10.7% in 2024, reaching 2 billion euros, while payments increased 11.86% and a value of € 943 million.
According to Eurostat data and based on the updated issue of the Balance of Payments Manual (BPM6), the first place among Greece’s receipts from the trade in services with France was occupied by travel services with an overwhelming share of 70% of total receipts from France. The following are the transfers. It is noted that of all shipping receipts, about half concerns marine transport.
In the 3rd place of the ranking are the other business services. These include research and development services, market advertising and research services, legal, accounting, counseling and technical services. Following are the telecommunications and information technology services, as well as insurance and pension services.
Greece’s travel receipts from France in 2024 amounted to EUR 1.259 billion, down 11.6% compared to 2023. On the arrivals of French tourists in Greece in 2024, they were 1.99 million travelers, increased by 8.8% compared to 2023. Arrivals in our country amounted to 4.9% in 2024, with the country being the 4th most important country of tourists, after Germany in the United Kingdom and the US.
It is worth noting that French tourists in Greece rose from 1.54 million in 2019, before the Covid crisis, to 1.99 million in 2024. This is a rapid increase of 29% in six years.
Concerning Greece’s payments to France, according to the 6th edition of the Balance of Payments Manual (BPM6), the first place among Greece’s payments to France is occupied by transport. Following are the travel services in the 3rd place in the ranking on the basis of the share of the other business services. Insurance and pension services as well as telecommunications and computer science services follow with a slight difference.
Greece’s direct investment in France
According to the latest available data from the Bank of Greece, the stock of Greek investment in France in 2022 was € 81 million, compared to € 85 million a year earlier (5%reduction).
It is therefore observed that the stock of Hellenic SA. In France it remains at very low levels, occupying a very small share of the total stock of Greek FDI abroad.
Concerning the flow of Greek direct investment to France, according to Bank of Greece data, in 2023 inflows of EUR 6 million were recorded, while in 2024 flows have a negative sign.