תקציר על סטטוס המסחר, מאזן סחר ויחסים עסקיים ישראל יוון כאשר המתיחות הבטחונית והפוליטית גואה. מוזמנים לשתף את המסמך עם שותפים מסחריים ביוון, אנשי קשר ומשפיענים.

1. Introduction: Context and Relevance
Diplomatic, economic and technological relations between Israel and the Palestinians began to flourish in the 1990s after
many years of murky relations, without mutual diplomatic representation and a clear bias towards the Arab and
Palestinian sides. However, this changed through the initiative and courage of decision-makers from each side. Starting in
the 2000s, relations warmed up and became more substantive. Since the beginning of the great economic crisis that it
entered in 2008, relations have become increasingly close, significant and with a mutual understanding and
internalization of shared interests and much in common, outweighing the increasingly narrowing gaps. Due to regional
tensions caused by wider conflicts in the Middle East and the Mediterranean basin to the Arabian Peninsula and beyond,
business and trade between the two countries are growing stronger and mostly resilient. This document describes the
current state of trade relations, highlights key sectors and players, reviews trends in the trade balance, and assesses the
impact of political developments on bilateral cooperation.
2. Overview of Bilateral Trade and Economic Relations
2.1 Trade Volume and Key Sectors
Trade Balance: In recent years, bilateral trade between Israel and Greece has demonstrated steady growth, with 2024
seeing over $1.3 billion USD in two-way trade. While Israel exports primarily technology, defense systems,
pharmaceuticals, and agricultural innovation, Greece exports to Israel energy resources, chemicals, aluminum, food and
beverage products, shipping services, and tourism packages.
Trade Balance & Total Trade Value (USD, millions)
According to UN and EU sources, here are the annual trade figures:
Year Israel → Greece Exports Greece → Israel Exports Total Trade
2022 587 m 666.7 m 1,253.7 m
2023 489 m 497.7 m 986.7 m
2024 353.4 m 902.8 m ~1,256.2 m
– In 2022, Israel had a trade deficit of about $79.7 million with Greece.
– In 2023, the deficit narrowed to around $8.7 million.
– In 2024, trade surged by ~41.3% to $1.3 billion, with Israeli exports reaching $353.4 million and Greek exports to Israel
$902.8 million, thus widening Israel’s deficit to roughly $549 million.
Top 5 Export Categories (Israel → Greece)
From multiple sources, in 2024 Israeli goods exported to Greece were led by the following sectors:
1. Chemicals – 41%, 2. Basic metals – 25%, 3. Plastic products – 10%, 4. Electrical machinery – 8%, 5. (Implied) Other
industrial products (likely refined petroleum & processed materials)
Earlier data (e.g. 2022) also highlights refined petroleum, scrap copper, and scrap iron as prominent exports.
Top 5 Export Categories (Greece → Israel)
In 2024, Greece’s exports to Israel were dominated by these goods:
1. Basic metals – 42.2%, 2. Electrical machinery – 15.7%, 3. Chemicals – 6.8%, 4. Plastic products, textiles, wood
(combined), 5. Miscellaneous manufactured articles – approx. $5.6 million in value
Earlier top categories in 2020 included consumer goods, intermediate goods, metals, and fuels.
Top Services & Strategic Sectors
Energy infrastructure – notably the undersea electricity cable/EuroAsia Interconnector and cooperation in natural‑gas
projects like the “Energy Triangle”. Technology & manufacturing – expanding ties in Israeli tech scaling into Greece, with a
robust startup environment in Athens and Thessaloniki. Defense & aerospace – Greece’s procurement of Israeli artillery
and collaboration on Iron Dome systems; partnerships like Elbit’s flight training center in Kalamata.
3. Strategic Technological Cooperation
3.1 Innovation and R&D Partnerships
The two countries collaborate on numerous EU-funded and bilateral research initiatives:
Horizon Europe Programs: Greek and Israeli institutions jointly participate in calls for clean energy, digital transition, Life
Science and smart agriculture. Bilateral R&D Fund: Supported by the Israel Innovation Authority and Greek General
Secretariat for Research and Innovation. Academic and Start-up Bridges: Growing cooperation between institutions like
the Technion, Hebrew University, and Athens Polytechnic is fostering new start-ups, joint patents, and exchange
programs.
3.2 Defense and Dual-Use Technologies
Considering increasing regional security challenges, Israel and Greece have strengthened ties in:
Joint military exercises (e.g., INIOCHOS and Blue Flag), Co-production and maintenance of defense systems, Surveillance
and border control technologies, Civil protection and cybersecurity resilience initiatives
4. Business Ecosystems and Investment Trends
4.1 Israeli Companies Active in Greece
Several Israeli firms have expanded operations or distribution channels in Greece:
IAI: Acquired Intracom Defense
Elbit Systems: Operating the International Flight Training Center in Kalamata
Netafim and Rivulis: Implementing precision agriculture systems
IDE Technologies: Involved in desalination and wastewater projects
Harel Insurance: Acquired the insurance brokerage firm of Interasco A.E.G.A.
Israeli VCs and tech firms: Investing in Greek clean-tech and AI start-ups
Israeli based Hospitality groups operating hotels and tourism services
Israeli based real estate investors and developers in the residential, hospitality and commercial arenas
4.2 Greek Business in Israel
Greek companies are active in:
Energean: Energy cooperation, including the EastMed pipeline initiative
Tourism infrastructure, catering to increasing Israeli visitors
Maritime and logistics services, leveraging Greece’s role as a European shipping hub
5. Political Tensions and Business Resilience
5.1 Impact of Regional Tensions
Middle East Conflict Spillover: The recent escalation involving Israel and Iran, as well as increasing instability across
Lebanon, Gaza, and Syria, has heightened tensions in the Eastern Mediterranean. Despite these challenges, Greece has
upheld its strategic dialogue with Israel while carefully managing its broader regional diplomacy.
EU Internal Dynamics: As an EU member, Greece often aligns with collective European foreign policy statements,
including calls for ceasefires, humanitarian access, and the two-state solution. However, Athens frequently takes a
measured and balanced tone, often more sympathetic to Israeli security concerns than some of its EU counterparts.
5.2 Business Continuity and Mitigation
Diplomatic Channels Open: Both governments continue to prioritize economic relations, as evidenced by frequent
bilateral meetings, trade missions, and participation in multilateral platforms such as the EMGF (East Mediterranean Gas
Forum).
Private Sector Flexibility: Businesses on both sides have adapted through diversification, digital transformation, and
deepening non-sensitive sectors such as energy, tourism, and agri-tech.
Institutional Cooperation: Chambers of commerce, trade promotion agencies, and research institutions play a vital role in
buffering political fallouts by reinforcing sectoral ties.
5.3 Greece’s Position within the EU and the UN – Balancing Diplomacy and Strategy
Greece as an EU Member State
As a full member of the European Union, Greece participates in shaping and endorsing common foreign policy positions.
This includes support for a two-state solution to the Israel-Palestinian conflict, adherence to international law, and
condemnation of civilian casualties on both sides.
However, unlike several Western European countries that have adopted increasingly critical stances toward Israel, Greece
has often served as a moderating voice, advocating for Israel’s right to self-defense while supporting humanitarian
considerations for Palestinians.
Greece has repeatedly abstained or taken non-confrontational positions in votes at the European Parliament and EU
Council that are seen as disproportionately critical of Israel.
Greece as a 2025–2026 Non-Permanent Member of the UN Security Council
In 2025, Greece began its term as a non-permanent member of the UN Security Council, placing it at the center of global
diplomacy. As such, Greece now plays a role in shaping Security Council resolutions on Middle East security and
humanitarian crises.
Greece’s approach has emphasized:
Support for de-escalation and civilian protection, Respect for Israel’s sovereignty and security, Calls for multilateral
negotiations under international frameworks, Greece has avoided aligning with more aggressive anti-Israel blocs, instead
leveraging its bridge-building image to maintain dialogue with Israel, the Palestinian Authority, and Arab states.
Standpoint on the Israel-Palestinian Conflict
Greece officially supports a negotiated two-state solution with Jerusalem as a shared capital, and has not recognized a
Palestinian state unilaterally, unlike other EU members such as Spain or Ireland.
It maintains full diplomatic relations with both Israel and the Palestinian Authority and has urged for the resumption of
direct peace talks, a cessation of hostilities in Gaza, and respect for international humanitarian law.
Greece continues to differentiate itself by maintaining strong bilateral ties with Israel, both economically and
strategically, while also positioning itself as a credible interlocutor in the Arab world due to historical, religious, and
regional ties.
6. Conclusion and Outlook
In times of political tension, Greece's role as an EU member, UNSC voice, and regional partner offers both challenges and
opportunities for Israel. While international pressure on Israel may grow in multilateral forums, Greece is uniquely
positioned to serve as a diplomatic ally and strategic partner, helping to sustain momentum in trade, innovation, and
regional stability. The enduring strength of Israel-Greece ties will depend on their ability to separate politics from
pragmatism and build on their mutual interests in security, innovation, and economic growth.
The Israel-Greece Chamber of Commerce and Industry will continue to act responsibly and tirelessly to initiate, promote
and assist in strengthening bilateral ties between Israel and Greece, integrating economics, trade and economic
diplomacy, and with the assistance of its partners in Israel and Greece.
IT'S TIME TO ACT!
Cobi Bitton
CEO
Isarel Greece Chamber of Commerce & Industry (IGCCI)