Greece’s Trading Interaction Analysis

Topic: Trade Words: 315 Pages: 1

Economic Data

Major trading partners	The country interacts with multiple countries in terms of trading relationships. Greece’s major trading partners are Germany, Italy, Turkey, Bulgaria, Cyprus, Iraq, and Russia (WTO, 2021).
Major imports	Greece imports in Germany, Iraq, Italy, Russia, and China; major imports are fuel, mineral waxes, oil, technical equipment, specialized machines.
Major exports	Exports of Greece are countries such as Italy, Germany, Bulgaria, Turkey, and Cyprus (WTO, 2021). Primarily, Greece exports medical equipment, fresh and frozen fruit and vegetables, olive oil, cheese, and milk products.
Regional trade agreements (RTA)	The country also participates in trade with other countries and joins regional trade agreements (RTA). These countries are Albania, Canada, Bosnia and Herzegovina, Chile, Iceland, Norway, Palestine, Turkey, Serbia, Ukraine, Israel, Japan, Moldova, and others (WTO OMC, 2021).

Observations

Greece is a country of the most prosperous nature, architecture, and natural resources. Moreover, it has an enormous history and is a participant in multiple trade contracts. This country’s climate is perfect for growing fruits and vegetables, and producing and importing goods like cheese and milk products (WTO OMC, 2021). It is important to note that the country participates in regional trade agreements with multiple countries-members. It exports and imports goods and services, such as various equipment and specialized machines. Moreover, it is essential to look at possibilities of investment in Greece and its sectors.

Regional economic integration with other countries enabled Greece to receive numerous opportunities for effective manufacturing and trade. For instance, Greece imports specialized equipment and machines from Germany, and it gives an ability to improve the quality of services within the international market. Investment in the country might be effective, especially in the agriculture sector. The trade statistics and tariff data from 2021 show the high trading rates within the agriculture sphere (WTO, 2021). According to the examined data, the investment in Greek sectors might be an efficient and successful solution.

References

WTO OMC. (2021). Regional trade agreements database. Web.

WTO. (2021). Greece and the WTO. Web.

WTO. (2021). Map of TBT STCs between WTO members. Web.