No harm from Brexit to Greek exports to UK
Brexit hardly affected Greek exports to Britain, since in 2022 they were significantly increased compared to 2021.
Last year exports to the United Kingdom accounted for 3.9% of all Greek exports, making the UK the seventh-largest customer for Greek products, while in 2021 it was in ninth place.
It is worth noting that the trade balance between the two countries is in surplus for Greece, with the surplus amounting to 1.28 billion euros in 2022.
It is noted that, according to the data of the Hellenic Statistical Authority (ELSTAT), Greek exports to the United Kingdom amounted to €2.14 billion in 2022, compared to €1.29 billion in 2021, recording an increase of approximately 66%.
According to Britain’s HM Revenue and Customs (HMRC) service, the value of British imports from Greece reached 1.478 billion pounds in 2022 compared to 859.5 million pounds in 2021, recording an increase of 72%.
The UK has changed the way it collects trade data after leaving the EU.
From January 1, 2021, UK import figures from the EU continued to be collected through the European Intrastat system, while exports are recorded through customs declarations.
Since January 2022, the Intrastat system has only been used to record flows between Northern Ireland and the EU.
The result of the above is that there are discrepancies in the value of imports and exports between the figures of the British agency and ELSTAT.
