On a year-to-year basis, U.S. exports of goods to Greece went up from $1,190 million in 2005 to $1,554 million in 2006. Nearly 77% of total U.S. goods exported to Greece were attributed to the top ten product categories: aircraft, spacecraft, and parts thereof (HS 88 - $243 million); mineral fuel, oil etc.; bitumin; mineral wax (HS 27 - $178 million); nuclear reactors, boilers, machinery etc.; parts (HS 84 - $142 million); electric machinery etc; sound equipment; TV equipment; parts (HS 85 - $141 million); optic, photo etc, medic or surgical instruments etc. (HS 90 - $139 million); special classification provisions, nesoi (HS 98 - $87 million); arms and ammunition; parts and accessories thereof (HS 93 - $85 million); vehicles, except railway or tramway, and parts etc (HS 87 - $82 million); iron and steel (HS 72 - $54 million), and edible fruit & nuts; citrus fruit or melon peel (HS 08 - $52 million).

In the 2007 Country Commercial Guide, the U.S. Foreign and Commercial Service and the U.S. Department of State identify the following industries as “leading sectors for U.S. export and investment”:

Defense Products (DFN). As Greece pursues a new modernization programs to update its fleet of frigates, helicopters, missiles, new fighters and “new generation” trainer aircrafts, U.S. firms could capture nearly $1-2 billion of business.

Telecommunication Services (TES). Many new fixed wireless and UMTS licenses have been awarded recently in Greece which provides significant opportunities for U.S. firms.

Renewable Energy – Photovoltaic Solar Systems and Equipment (REQ). Renewable energy is the fastest growing sector within Greece. U.S. firms have very good sales opportunities for such products as: crystalline, silicon, solar cells, and materials technology; amorphous and microcrystalline silicon; CIS and other thin-film technologies; PVE modules and components of PVE systems; PVE systems in grid connected applications, new devices and other PVE related materials.

Medical Equipment (MED). The Greek market for medical equipment is dominated by imports, which supply 90% of the demand. However, Greece also imports such products as hospital furniture, inexpensive manual wheel chairs, bandages, gauze, and other rudimentary hospital supplies. The Greek medical equipment market growing of 8-10% annually and this growth is expected to continue beyond 2007.

Tourism Infrastructure Development (ACE). There are excellent opportunities for U.S. architectural, engineering and design firms in Greece’s tourism and infrastructure development sector. U.S. tourism infrastructure development, equipment, products, know-how and services are known for outstanding quality and enjoy an excellent reputation in Greece.

If you are interested in learning more about your company’s business opportunities in Greece or would like to join the WTCGP on a discovery mission to Greece and Cyprus from June 23 to July 1, 2007, please contact Joanna Savvides, President, WTCGP.
                          

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