An Overview of the Economy
Greece is a capitalist economy with a public sector that
accounts for about half of the country's GDP. The economy saw a
boom in 2003 to 2006 mainly due to investments, although despite
this growth Greece is still one of the EU's poorest countries.
Public dept, inflation and unemployment levels are still higher
than the euro–zone average but rates are gradually starting to
fall. Tourism and Shipping industries contribute the most to the
Greek economy, Greece receives more tourists than the country's
population each year and the shipping industry is one of the most
important in the world due to the country's location.
| statistics |
|
| GDP (PPP) (IMF) (US$Billions) |
324.6 |
| GDP (PPP) (CIA) (US$Billions) |
324.6 |
| GDP Growth (IMF) (%) |
4% |
| GDP Growth (CIA) (%) |
4% |
| GDP Per Capita (PPP) (IMF) (US$) |
28,273 |
| GDP Per Capita (PPP) (CIA) (US$) |
29,200 |
| GDP by Sector (%) |
Agriculture: 3.6%
Services: 71.6%
Industry: 24.8% |
| Inflation (%) |
3% |
| Population Below the Poverty Line (%) |
- |
| Labour Force (Millions) |
4.92 |
| Labour Force by Occupation (%) |
Agriculture: 12%
Services: 68%
Industry: 20% |
| Unemployment (%) |
8.3% |
| Main Industries |
Tourism, food and tabacco processing, textiles,
chemicals, metal products, mining, petroleum. |
Source: CIA World Factbook, IMF
GDP
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
193.7 |
230.3 |
247.4 |
268.7 |
314.6 |
| GDP Growth (%) |
3.5% |
4.7% |
3.7% |
3.7% |
4.2% |
| GDP Per Capita (US$) |
17,510 |
20,785 |
22,290 |
24,157 |
28,273 |
| GDP Per Capita (PPP) (US$) |
22,380 |
23,973 |
25,481 |
27,332 |
29,200 |
| Inflation (%) |
3.4% |
3.0% |
3.5% |
3.3% |
3.0% |
| Unemployment (%) |
9.7% |
10.5% |
9.9% |
8.9% |
8.3% |
| Mobile Phone Users |
937,700 |
8,936,200 |
8,936,200 |
10,043,000 |
11,098,000 |
| Internet Users |
1,400,000 |
1,718,400 |
1,718,400 |
3,800,000 |
2,048,000 |
Source: IMF, CIA World Factbook
Major Exports & Imports
Imports and Exports for the Greek economy are very important for
growth. Greece used to be an Agricultural country with the
significant imports and exports mainly in this sector but this
changed over years and agriculture now only consists of 15% of the
economy.
Major Exports 2007
Food and beverages, manufactured goods, petroleum products,
chemicals, textiles.
Major Imports 2007
Machinery, transport equipment, fuels, chemicals.
| export partners 2007 |
% of total |
| Germany |
11.4% |
| Italy |
11.3% |
| Bulgaria |
6.4% |
| UK |
6.0% |
| Cyprus |
5.4% |
| Turkey |
5.1% |
| France |
4.4% |
| US |
4.4% |
| Spain |
4.0% |
| import partners 2007 |
% of total |
| Germany |
12.6% |
| Italy |
11.6% |
| Russia |
7.1% |
| France |
5.9% |
| Netherlands |
5.1% |
| South Korea |
4.2% |
Source: CIA World Factbook
Top