The Greek economy is expected to be impacted mainly indirectly if the US imposes tariffs on the EU following the election of President Donald Trump, Alpha Bank noted in its weekly economic bulletin.
The US president has announced plans to impose 25% tariffs on EU-made goods in the near future.
Assessing the immediate effects, the bank report suggests that Greece would experience only limited direct repercussions. Although Greek exports to the US have grown over the past three years, they remain relatively low, reaching €2.4 billion in 2024, accounting for just 4.8% of total Greek exports, the report notes.
However, the report warns that the greater risk for the Greek economy lies in the broader impact on EU economies with significant exports to the US.
Major trade partners such as Germany and Italy, which also contribute substantially to Greece’s tourism sector, could see economic slowdowns, the report notes. A decline in their exports to the US could weaken their economies, reducing both demand for Greek products and tourism in Greece, it adds.