Greece: Domestic Appliances Market 2024

Domestic Appliances Market Size in Greece

The Greek domestic appliances market skyrocketed to $X in 2021, jumping by 20% against the previous year. The market value increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Domestic Appliances Production in Greece

In value terms, domestic appliances production dropped to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 13%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Domestic Appliances Exports

Exports from Greece

Domestic appliances exports from Greece surged to X units in 2021, jumping by 21% on 2020. Overall, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 36% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, domestic appliances exports surged to $X in 2021. Over the period under review, exports continue to indicate a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Cyprus (X units) was the main destination for domestic appliances exports from Greece, with a 37% share of total exports. Moreover, domestic appliances exports to Cyprus exceeded the volume sent to the second major destination, Germany (X units), fourfold. The third position in this ranking was taken by France (X units), with a 6.6% share.

From 2012 to 2021, the average annual growth rate of volume to Cyprus totaled +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-11.1% per year) and France (+4.4% per year).

In value terms, Cyprus ($X) remains the key foreign market for domestic appliances exports from Greece, comprising 44% of total exports. The second position in the ranking was taken by Italy ($X), with an 11% share of total exports. It was followed by France, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cyprus amounted to +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+5.7% per year) and France (+6.6% per year).

Export Prices by Country

In 2021, the average domestic appliances export price amounted to $X per unit, with an increase of 4.5% against the previous year. Over the period under review, the export price, however, showed a deep contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 14% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Denmark ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Domestic Appliances Imports

Imports into Greece

In 2021, the amount of domestic appliances imported into Greece surged to X units, with an increase of 20% on 2020 figures. The total import volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, domestic appliances imports skyrocketed to $X in 2021. In general, total imports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of domestic appliances to Greece, accounting for a 41% share of total imports. Moreover, domestic appliances imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), twofold. The third position in this ranking was held by Poland (X units), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+2.3% per year) and Poland (+5.4% per year).

In value terms, China ($X), Turkey ($X) and Germany ($X) were the largest domestic appliances suppliers to Greece, with a combined 57% share of total imports. These countries were followed by Poland, Italy, Bulgaria, Romania and Spain, which together accounted for a further 26%.

Romania, with a CAGR of +11.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average domestic appliances import price stood at $X per unit in 2021, picking up by 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per unit), while the price for Romania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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