Total Value of Greek-Chinese Trade at 4.5 Bln Euros

File- Heading their respective delegations, China's President Xi Jinping, 3rd right, and his Greek counterpart Prokopis Pavlopoulos, 5th left, hold their meeting at the Presidential palace in Athens, Monday, Nov. 11, 2019. Xi Jinping is in Greece on a two-day official visit. (AP Photos/Petros Giannakouris)

ATHENS – Greek-Chinese relations are undergoing a new, dynamic period, as evidenced by the large number of high-level official visits to each other, which have led to the creation of stable channels of communication and a common approach in a range of issues. However, the volume of Greek-Chinese trade accounts represents only 5.1 pct of all Greek foreign trade, which does not correspond to both the real potential and the exceptional level of the two countries’ general relations.

“It is obvious that, despite the temporary adverse conditions as a result of Covid-19, even greater efforts must be made to develop the two countries’ trade relations to the fullest extent possible,” according to a statement of the Piraeus Chamber of Commerce and Industry.

Bilateral Greek-Chinese trade has recorded a rebound and dynamic growth totaling 4.5 billion euros. The value of exports of Greek products to China has started not only to recover, but to follow impressive growth rates. In particular, the value of exports of Greek products to China almost doubled, increasing by 91 pct reaching 902.4 million euros, recording a historic high.

Petroleum products are the main category of Greek products exported to China. In fact, the value of related exports almost quadrupled, from 114.3 million euros to 443.9 million euros, covering about 50 pct of all Greek exports to China.