Greek export slump deepens trade deficit as EU embraces energy security

Greek exports fell 3.6% in February 2026, reaching €3.92 billion, while imports rose, widening the trade deficit to €2.79 billion. The deficit grew 14.3% year‑on‑year, and the share of exports to the European Union rose to 60.9% as shipments to non‑EU markets dropped 11.1%. Alki Kalampos, president of the Pan‑Hellenic Exporters’ Association, warned that the consecutive months of decline, higher energy costs and disrupted maritime routes threaten Greece’s export outlook and call for state intervention.

At the same time, the European Union is redefining its green transition as a core element of energy security. The Commission’s “AccelerateEU” program, launched in April 2026, aims to cut the bloc’s dependence on imported fossil fuels—still 57% of its energy mix—by fast‑tracking wind and solar projects and strengthening domestic supply chains. The shift reflects geopolitical pressures from Middle‑East supply disruptions and the weaponisation of Russian gas, linking climate ambition directly to strategic autonomy and competition with the United States and China.