Lime market in Greece

Earlier Report Observations

From 2020 to 2021, lime production in Greece increased by 20% to 278 thousand tons, while the market volume expanded by 29% to 267 thousand tons. This growth followed the full liberalization of the natural gas market initiated in 2018, which licensed 17 supply companies and likely reduced energy costs for industrial producers, stimulating output.

In 2022, both production and market volume contracted by approximately 5%, falling to 266 thousand tons and 254 thousand tons, respectively. The decline coincided with reported surges in energy and transportation costs, which raised production expenses and constrained activity.

The market recovered in 2023, with production rising 14% to 304 thousand tons and market volume growing 12% to 285 thousand tons. However, in 2024, production slipped 6% to 287 thousand tons and market volume dropped 8% to 261 thousand tons, as persistent inflationary pressures and high production costs continued to weigh on the sector, despite a dynamic real estate market offering some demand support.

Production lime in Greece

In value, 2017-2020, K $ US

In 2020, Greece's lime production was valued at 17 036 K $ US, showing minimal change from 2019. Over the period from 2017 to 2020, production decreased by 13%, with an annualized decline rate of 4.5%.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

In kind, 2017-2020, K t

In 2020, Greece produced 231.8 K t of lime, remaining virtually unchanged from 2019. Between 2017 and 2020, production decreased by 14.5%, which translates to an annualized reduction of 5.1%.

Annual dynamics of production in Greece in kind, 2017-2020, K t

Exports lime from Greece

Exports in kind, t

In 2020, Greece's cross-border shipments of lime totaled 33 109 t, down by 10.7% from the previous year. Over the 2017-2020 period, exports increased by 14.4%, with a compound annual growth rate of 4.6%. The lowest export volume was recorded in 2018 at 27 698 t, while the peak occurred in 2019 with 37 062 t. The largest year-on-year increase of 33.8% was also observed in 2019.

Annual dynamics of product's exports from Greece in kind, 2017-2020, t

From 2017 to 2020, three principal markets—North Macedonia, Albania, and Serbia—collectively accounted for 93.0% of Greece's total lime exports in volume terms.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, K $ US

In 2020, Greece's lime export value reached 2 563 K $ US, marking a 6.1% decrease from the previous year. Over the 2017-2020 period, exports grew by 29.1%, with a compound annual growth rate of 8.9%. The lowest value was recorded in 2018 at 1 930 K $ US, while the highest was in 2019 at 2 729 K $ US. The largest year-on-year increase of 41.4% also occurred in 2019.

Annual dynamics of product's exports from Greece in value, 2017-2020, K $ US

Throughout 2017-2020, North Macedonia, Albania, and Serbia played leading roles in Greece's lime exports by value, accounting for 49.8%, 23.2%, and 19.0% respectively. Together, these three markets represented 92.0% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports lime to Greece

Imports in kind, t

The market exhibited volatility during these years. Imports reached their lowest point in 2017 and peaked in 2018, with a 2.9-fold difference between these two years. In 2020, foreign lime supplies to Greece totaled 8 066 t, down by 7.8% from 2019. The maximum import volume was recorded in 2018 at 9 258 t, with the largest year-on-year increase of 193.7% also occurring that year.

Annual dynamics of product's imports to Greece in kind, 2017-2020, t

Over the 2017-2020 period, imports of lime to Greece were heavily concentrated on Bulgaria, which accounted for 82.0% of total volume. Other countries together formed the remaining share.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, K $ US

The data reveals irregular changes, indicating a volatile market environment. Import values hit their lowest point in 2017 and reached their maximum in 2018, with a 2.7-fold swing between these years. In 2020, foreign lime supplies to Greece amounted to 854 K $ US, showing a modest decline of 3.1% year-over-year. The peak value was recorded in 2018 at 912 K $ US, while the largest decline of 3.4% occurred in 2019. The most significant increase of 166.9% was also observed in 2018.

Annual dynamics of product's imports to Greece in value, 2017-2020, K $ US

From 2017 to 2020, Bulgaria was the key supplier of lime to Greece, accounting for 71.1% of total imports by value. A diversified group of other countries accounted for the remainder.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020