Greece and Belgium are maintaining strong economic ties, with significant activity in trade, services and investment, according to a report by Greek diplomatic authorities in Brussels.
Belgium is one of Greece’s most important commercial partners within the European Union. In 2025, it ranked as the 21st largest destination for Greek exports worldwide and the 10th among EU member states, with Greek exports reaching €685 million.
At the same time, Belgium was the 10th largest source of Greek imports globally and the seventh among EU countries, with imports totaling €2.404 billion.
Greek exports find a foothold in the Belgian market
Greek exports to Belgium are characterized by a wide range of products and a strong presence of goods with higher added value.
Key export categories include pharmaceutical products, tobacco and manufactured tobacco substitutes, milk and dairy products, eggs, honey, and processed vegetable and fruit products.
The agricultural food sector remains one of the main areas of growth for Greek exports, with several traditional products gaining ground in the Belgian market.
Greek table olives are among the most successful Greek products in Belgium, accounting for around 26% of total Belgian imports of olives and placing Greece second among supplier countries.
Greek extra virgin olive oil has also strengthened its presence in recent years, although Greece currently holds around 6.5% of the Belgian market, compared with approximately 57% for Spain and 23% for Italy. The figures indicate further potential for growth, particularly in certified, high-quality products.
Greek dairy products also show development prospects. Feta remains the country’s most important dairy export to Belgium, while Greek yogurt is steadily expanding as a higher-value product. Although it currently represents around 1.7% of Belgium’s total yogurt imports, rising demand for high-protein and health-focused foods creates opportunities for further growth.
Other products with potential include Greek kiwis, farmed seafood, processed foods and wines. Despite increased recognition through promotional activities and international exhibitions, Greek wine exports still account for only a small share of Belgium’s wine imports, leaving room for expansion in the high-value market.
Services and tourism strengthen bilateral relations
Trade in services is one of the most dynamic areas of Greece-Belgium economic relations.
Tourism remains the most significant contributor to bilateral service transactions, playing a major role in Greek revenues from Belgium.
Other important sectors include transport, business services, financial services, information technology and telecommunications, as well as other professional services.
Belgium has consistently ranked among Greece’s most important EU partners in services trade.
Belgian investment in Greece and Greek presence in Belgium
Greece continues to attract Belgian investment across a broad range of sectors, including energy, infrastructure, food manufacturing, chemicals and plastics, pharmaceuticals, organized retail, information technology and logistics.
Belgian companies have maintained a long-term presence in Greece, including through major multinational groups and participation in strategic energy and transport infrastructure projects.
Investment in Greek real estate also remains significant. According to Bank of Greece data, net capital inflows from Belgium for investments in Greek property reached €43.5 million in 2025. Belgian investor interest focuses mainly on tourism and holiday destinations, as well as investment properties in major urban centers.
Greek business activity in Belgium has developed beyond traditional commercial operations. It includes holding companies and parent structures of major Greek groups, technology firms serving European Union institutions and organizations, European affairs offices, financial technology and digital services companies, as well as smaller businesses involved in trade, food services and the distribution of Greek products.
The presence of EU and NATO institutions in Brussels, access to European capital markets and international financing sources, and Belgium’s broader business environment are among the factors attracting Greek companies.
The Greek community in Belgium also contributes to the country’s business presence.
Trade imbalance remains in Belgium’s favor
Despite the strong presence of Greek products in Belgium, bilateral goods trade continues to show a deficit in favor of Belgium.
Greek imports from Belgium are dominated by high-technology and industrial products, reflecting Belgium’s role as a major European center for the production and distribution of pharmaceutical, chemical and industrial goods.
Greece represents a relatively small but stable share of Belgium’s external trade, accounting for less than 1% of both Belgian exports and imports.
Greek imports from Belgium declined slightly by 0.8%, while Belgium’s share of total Greek imports stood at 2.7%, compared with 2.8% in 2023.
Continued opportunities for deeper cooperation
The report highlights continued opportunities for expanding economic cooperation between the two countries, particularly in high-quality agricultural products, technology, services and investment.
While Greece has already established a strong presence in areas such as olives, feta, tourism and transport services, officials note that further growth potential remains in premium food products, wine and other specialized exports.
