Greek-German investments in fixed capital formation reached 3.7 billion euros in the period 2018-2022, while total turnover increased to 10 billion euros in 2022 and companies employed around 26,000 workers, according to the study by the Foundation for Economy and Industry Research (IOBE), which was carried out on behalf of the Hellenic-German Chamber of Commerce and Industry, and presented as part of the Chamber’s 100th anniversary event.
Contribution to GDP and employment
According to the study, for every 1 euro of GDP produced by Greek-German companies – members of the Chamber, Greece’s GDP increases by a total of 1.6 euros and correspondingly, in terms of employment, each job in the companies of the Community supports 2.4 jobs in the entire Greek economy, with the total contribution estimated at 75,000 jobs.
Net direct investment stood at €7.7 billion in 2022. In terms of imports, Germany returned to first place in 2023, from second place in 2022, while it ranked third in terms of destinations for Greek exports.
More specifically, exports of Greek products to Germany amounted to €3.3 billion in 2023, compared to €3.4 billion in 2022 and €2.8 billion in 2021.
The value of imports of goods from Germany to Greece stood at €8.4 billion in 2023, compared with €8.4 billion in 2022 and €6.9 billion in 2021.
Germany’s share of total imports from Greece stood at 10.4% in 2023, from 9.2% in 2022 and 11% in 2021, while the share of Greece’s exports to Germany increased in 2023 to 6.6%, from 6.4% in 2022 and 7.3% in 2021.