Portugal and Greece
Greece and Portugal maintain an economic agenda connecting tourism, renewables, maritime transport and innovation. Greek Deputy Minister Harry Theoharis’ visit in May and June 2026 combined a wine tourism event in Beja with bilateral discussions in Lisbon.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08What merchandise trade shows
In 2025, goods trade between Portugal and Greece totalled 524.3 million current USD.
Documented trade sectors
Within the selected chapters, vehicles and components stands out in shipments from Portugal to Greece, at 40 million USD in 2025.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 524.28 M USD | 2025 · Comtrade |
| Goods: Portugal to Greece | 269.74 M USD | 2025 · Comtrade |
| Goods: Greece to Portugal | 254.54 M USD | 2025 · Comtrade |
| Services trade | ||
| Export share: Portugal to Greece | ||
| Export share: Greece to Portugal | ||
| Investment stock: Portugal in Greece | ||
| Investment stock: Greece in Portugal |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade · Goods; full calendar year; reporter PRT. Both directions come from the same verified customs document, not from adding mirror declarations together. Exports generally FOB; imports generally CIF.
- Goods: Portugal to Greece
- 2025 · UN Comtrade · Goods; full calendar year; reporter PRT. Both directions come from the same verified customs document, not from adding mirror declarations together. Exports generally FOB; imports generally CIF.
- Goods: Greece to Portugal
- 2025 · UN Comtrade · Goods; full calendar year; reporter PRT. Both directions come from the same verified customs document, not from adding mirror declarations together. Exports generally FOB; imports generally CIF.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
Some annual indicators refer to different years. Check the period beside each value before comparing them.
Year-on-year inflation: different periods or frequencies; the two figures are not directly comparable.
| Indicator | Portugal | Greece |
|---|---|---|
| Nominal GDP | 346.64 billion USD2025 · WB | 280.64 billion USD2025 · WB |
| GDP per capita | 32,081.81 USD2025 · WB | 26,948.01 USD2025 · WB |
| GDP growth | 1.86 %2025 · WB | 2.07 %2025 · WB |
| Policy interest rate | 2.5 %2026-09-16 · BCE | 2.5 %2026-09-16 · BCE |
| Inflation · annual average | 2.34 %Annual average · 2025 · WB | 2.48 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 3.6 %provisionalprovisionalYear-on-year · Sept. 2026 · INE PT | 3.8 %Headline CPI · 2026-08 · year-on-year · ELSTAT |
| Unemployment | 6.16 %ILO est.2025 · WB | 8.54 %ILO est.2025 · WB |
| Budget balance (% of GDP) | 0.3 %IMF est.2025 · IMF | 1.3 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 89.9 %IMF est.2025 · IMF | 145.7 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | 1.2 %IMF est.2025 · IMF | -7.11 %2024 · WB |
| Population | 10,804,871World Bank est.2025 · WB | 10,413,9622025 · WB |
| Area | 92,230 km²2023 · WB | 131,960 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDPortugal: 2025 · World BankGreece: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP per capita
- Current USD per personPortugal: 2025 · World BankGreece: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- GDP growth
- Annual real change (%)Portugal: 2025 · World BankGreece: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Policy interest rate
- Central bank instrument (%)Portugal: 2026-09-16 · ECB: deposit facility; shared euro-area rate · European Central BankGreece: 2026-09-16 · ECB: deposit facility; shared euro-area rate · European Central Bank · Greece shares the ECB's monetary policy. Same instrument and date as Spain.
- Inflation · annual average
- Average annual change in headline CPI (%)Portugal: 2025 · Annual average change in the CPI (%) · World BankGreece: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedPortugal: 2026-09 · Change in headline CPI from the same month of the previous year (%) · Portugal INE · Published: 2026-09-30 · provisional · Provisional · National headline CPI, year-on-year, not monthly inflation or an annual average. Provisional data or an official advance release; subject to revision.Greece: 2026-08 · National headline CPI, change from the same month of the previous year · ELSTAT · Published: 2026-09-09 · Official monthly data. Not mixed with the annual average. · Alternative official source; verified 2026-10-07
- Unemployment
- % of the labour force; definition used by the stated institutionPortugal: 2025 · World Bank · ILO est.Greece: 2025 · ILO modelled estimate, % of the labour force · World Bank · ILO est. · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Budget balance
- General government (% of GDP)Portugal: 2025 · IMF — World Economic Outlook · IMF est.Greece: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Gross public debt
- General government (% of GDP)Portugal: 2025 · IMF — World Economic Outlook · IMF est.Greece: 2025 · IMF · IMF est. · IMF WEO estimate, not a monthly observation. Retains the country's fiscal year where it differs from the calendar year.
- Current account balance
- % of GDPPortugal: 2025 · IMF — World Economic Outlook · IMF est. · Current-account balance as a percentage of GDP; IMF WEO estimate for PRT.Greece: 2024 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Population
- PeoplePortugal: 2025 · World Bank · World Bank est. · Extrapolated estimate identified by the World Bank; not a census count for 2025.Greece: 2025 · World Bank · Official World Bank series; latest verified period available for this series in the 2023–2025 query. Extrapolated assuming the same growth rate as the previous 6 months.
- Area
- Total area in km²; territorial coverage of the sourcePortugal: 2023 · Area according to the series' coverage; does not determine sovereignty or effective control · World BankGreece: 2023 · World Bank / FAO · Official World Bank series; latest verified period available for this series in the 2023–2025 query.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Portugal to Greece
| Product or sector | Value / share |
|---|---|
| Vehicles and components | 40 M USD2025 · Source |
| Electrical and electronic equipment | 16.9 M USD2025 · Source |
| Machinery and mechanical appliances | 11 M USD2025 · Source |
| Pharmaceutical products | 4.4 M USD2025 · Source |
| Meat and edible offal | 2.8 M USD2025 · Source |
| Dairy products, eggs and honey | 1.4 M USD2025 · Source |
| Mineral fuels and oils | 0.857 M USD2025 · Source |
Greece to Portugal
| Product or sector | Value / share |
|---|---|
| Pharmaceutical products | 86.9 M USD2025 · Source |
| Meat and edible offal | 11.4 M USD2025 · Source |
| Machinery and mechanical appliances | 7.8 M USD2025 · Source |
| Dairy products, eggs and honey | 7.6 M USD2025 · Source |
| Electrical and electronic equipment | 7.2 M USD2025 · Source |
| Vehicles and components | 2.8 M USD2025 · Source |
| Mineral fuels and oils | 0.282 M USD2025 · Source |
How trade has changed
Millions of current USD · full calendar years
View chart figures
| Period | Total | Portugal to Greece | Greece to Portugal |
|---|---|---|---|
| 2021 | 434.1 | 234.2 | 199.9 |
| 2022 | 545.4 | 267.6 | 277.8 |
| 2023 | 488.4 | 264.2 | 224.2 |
| 2024 | 506.9 | 265.7 | 241.1 |
| 2025 | 524.3 | 269.7 | 254.5 |
Connections between people
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Portugal living in Greece | ||
| Residents from Greece living in Portugal | ||
| Study and training: Portugal in Greece | ||
| Study and training: Greece in Portugal | ||
| Academic stays: Portugal in Greece | ||
| Academic stays: Greece in Portugal | ||
| Travel: Portugal to Greece | ||
| Travel: Greece to Portugal |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
The scale of both economies
Nominal GDP for Portugal is 346.6 billion USD (2025), compared with 280.6 for Greece (2025). The reference populations are 10.8 and 10.41 million, respectively. In the same year, the economy of Portugal was 1.24 times that of Greece in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [4] [5] [6] [7]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Bilateral context
Theoharis visited Portugal from 31 May to 1 June 2026. He spoke at the third conference of the World Wine Tourism Organization in Beja and subsequently met João Rui Ferreira, secretary of state for the economy, and Inês Domingos, responsible for European affairs, in Lisbon. [1]
Cooperation and bilateral issues
Discussions addressed trade, investment, energy, shipping, tourism and the green and digital transitions. They also examined opportunities in water management, infrastructure, innovation and the blue economy. One specific strand was to explore partnerships between Greek and Portuguese businesses to operate in third markets, particularly in Africa and Latin America. The statement presents these initiatives as prospects for cooperation, not concluded contracts. European coordination on economic security, supply chains and competitiveness completed the agenda. [1]
What merchandise trade shows
In 2025, merchandise trade between the two countries (Portugal and Greece) totalled 524.3 million current USD. Shipments from the first to the second were 269.7 million; those in the opposite direction, 254.5 million. The difference between the two flows was 15.2 million, in favour of Portugal. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [2]
Five years of trade trends
The consistent series shows 434.1 million USD in 2021 and 524.3 million in 2025. The change between the two endpoints was +20.8 % in current dollars. The highest annual value in the period was recorded in 2022, at 545.4 million. The chart allows the two directions to be compared to see whether they moved together or differently. The change combines quantities, prices and exchange rates; it is not automatically attributed to a treaty, a visit or a political decision. The same reporter is retained and missing years are not interpolated. [2]
Documented trade sectors
Within the selected chapters, vehicles and components stands out in shipments from Portugal to Greece, at 40 million USD in 2025. Within the selected chapters, pharmaceutical products stands out in shipments from Greece to Portugal, at 86.9 million USD in 2025. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [3]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — GRC-PRT
www.mfa.gr · Institutional source · Accessed: 2026-10-08
- UN Comtrade annual data; reused verified primary payload, not re-downloaded
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-07
- NY.GDP.MKTP.CD; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
- Official statistics
World Bank · Institutional source · Accessed: 2026-10-07
- SP.POP.TOTL; 2023–2025; country and period preserved; no military series
World Bank · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade
2026-10-08 · Accessed: 2026-10-08 · Bounded matrix; reporter, partner, year, chapter and direction identified in each record.