Greek exports hit a new record in the first nine months of 2026, reaching €41,863.8 million, up 15.9%, or €5.73 billion, on the same period last year. The new high surpassed the previous nine-month record, set in 2022 at about €40.6 billion, according to an analysis by the Panhellenic Exporters Association (PSE) and KEEM based on provisional data from ELSTAT.
The momentum was also confirmed in September, when exports reached €4,763.6 million, up 11.6%, or €496 million. It was the seventh consecutive month of double-digit growth. Excluding petroleum products, the pace was slightly faster, at 11.7% (€3,456.1 million), and excluding both petroleum products and ships, growth was 10%.
Fuel takes the top spot
Petroleum products remain the biggest driver of growth. Fuel exports surged 41.9% in the first nine months, to €13,102.6 million from €9,234.8 million a year earlier, adding €3.87 billion. In other words, the sector accounted for about 67% of the total increase in exports, underscoring Greece’s role as an energy and refining hub. Petroleum product exports rose 17% in September.
Raw materials, machinery and food drive the non-energy core
The picture, however, is not limited to energy. Exports excluding petroleum products reached €29,767.8 million, up 7.8%, or €2.15 billion, with nine of the 10 SITC sectors recording growth.
The fastest growth after fuel was recorded by crude materials, inedible, up 23.2% in the first nine months to €1,501.1 million, with an even stronger performance in September (+25.7%).
Next came machinery and transport equipment, which surpassed €4 billion for the first time in the nine-month period (€4,023.9 million, +13.4%), with growth accelerating to 16.7% in September.
Food and live animals, the country’s second-largest export sector, also made a significant contribution. Overseas sales rose 10.1% to €7,415 million, adding €680 million. Growth in September was 9.7%.
Manufactured goods classified chiefly by material also performed well (€6,058.9 million, +6.1%), with a striking 17% rise in September, as did chemicals, which came close to €5 billion (€5,005.8 million, +5.4%). The PSE said this picture reflects structural resilience and a gradual shift towards higher value-added products.
Exports by sector (million euros)
| Sector | 9M 2025 | 9M 2026 | Nine-month change | September change |
|---|
| Petroleum products – fuels | 9,234.8 | 13,102.6 | +41.9% | +17.0% |
| Food & live animals | 6,735.0 | 7,415.0 | +10.1% | +9.7% |
| Manufactured goods classified chiefly by material | 5,710.9 | 6,058.9 | +6.1% | +17.0% |
| Chemicals | 4,750.0 | 5,005.8 | +5.4% | +5.1% |
| Machinery & transport equipment | 3,548.0 | 4,023.9 | +13.4% | +16.7% |
| Miscellaneous manufactured articles | 2,790.1 | 2,833.8 | +1.6% | +5.0% |
| Crude materials, inedible | 1,218.1 | 1,501.1 | +23.2% | +25.7% |
| Beverages & tobacco | 1,166.1 | 1,174.7 | +0.7% | +37.2% |
| Animal & vegetable oils and fats | 796.8 | 634.3 | −20.4% | −26.3% |
| Commodities not classified / confidential | 110.6 | 113.7 | +2.8% | +14.3% |
Source: PSE – KEEM, based on ELSTAT data (SITC categories)
The weak links
By contrast, exports in the beverages and tobacco category were broadly flat in the first nine months (+0.7%, at €1,174.7 million), despite a sharp 37.2% jump in September. Growth in miscellaneous manufactured articles was also marginal (+1.6%).
Animal and vegetable oils and fats remained the only category in negative territory, with exports down 20.4% in the first nine months to €634.3 million from €796.8 million. The decline deepened to 26.3% in September.
The EU takes the lead
By market, the European Union provided most of the boost in September. Exports to the EU rose 23.7%, while those to non-EU countries fell 3.3%, lifting the EU’s share to 61.2% from 55.2%. Excluding petroleum products, exports rose at a healthy pace in both directions: 12.9% to the EU and 9.3% to non-EU countries.
For the nine-month period as a whole, the EU accounted for 57.8% of exports, up 17%, and 67.3% of exports excluding petroleum products, up 10.1%.
Trade deficit narrows
With exports growing at almost twice the rate of imports, which rose 8.8% to €66,355.9 million, the trade deficit for the first nine months narrowed by 1.5%, or €371.6 million, to €24,492.1 million. Excluding petroleum products, the deficit fell 4.5% (€966.9 million). The export-to-import coverage ratio rose to 63.1% from 59.2%.
In September, by contrast, the deficit widened 21.7% to €3,317.5 million as imports rose 15.5%, driven by the energy bill. Excluding petroleum products, imports increased by just 5.8% and the deficit narrowed 1.5%, while the coverage ratio improved to 58.3% from 55.2%.
Kalambokis: Momentum is sustainable, but action is needed
“The first nine months of 2026 are making history for Greek exports,” said PSE chairman Alkiviadis Kalambokis, noting that the year’s momentum “is not a one-off; it is sustainable”.
“Even more important is that growth is not based solely on energy,” he stressed, adding that “Greek production is gaining ground in higher value-added products – that is the true measure of its structural strengthening”.
Mr Kalambokis warned, however, that geoeconomic pressures, energy and financing costs, and intensifying international competition called for immediate action. He called for exporters’ liquidity to be strengthened through flexible financing and insurance tools, targeted cuts to operating costs and faster administrative procedures.
“The nine-month record is not the end of the road; it proves that the 2030 target is achievable, provided we continue to invest consistently and with a plan in our export orientation,” he concluded.