Greece - Economy
How is the economy of Greece? Based on the information we have, Greece has a developed EU and eurozone economy; strong post-COVID growth driven by tourism, shipping industry, exports, and foreign investment supported by EU cohesion funds; public debt remains high despite recent budget surplus; challenges from negative household savings, high unemployment, corruption, and competitiveness gaps. Key agricultural products in this country include: maize, wheat, sheep milk, peaches/nectarines, oranges, grapes, tomatoes, milk, watermelons, potatoes (2022).
More about the economy of Greece
| Labor force | 4.645 million (2023 est.) |
|---|---|
| Industrial production growth rate | 1.68% (2023 est.) |
| Industries | tourism, food and tobacco processing, textiles, chemicals, metal products; mining, petroleum |
| Population below poverty line | 18.8% (2021 est.) |
| Taxes and other revenues | 27.81% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | euros (EUR) per US dollar - |
| Exchange rates 2023 | 0.925 (2023 est.) |
| Exchange rates 2022 | 0.95 (2022 est.) |
| Exchange rates 2021 | 0.845 (2021 est.) |
| Exchange rates 2020 | 0.876 (2020 est.) |
| Exchange rates 2019 | 0.893 (2019 est.) |
| Debt - external | |
| Debt - external 2019 | $484.888 billion (2019 est.) |
| Debt - external 2018 | $478.646 billion (2018 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $13.608 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $12.061 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $14.447 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | -$15.056 billion (2023 est.) |
| Current account balance 2022 | -$22.623 billion (2022 est.) |
| Current account balance 2021 | -$13.858 billion (2021 est.) |
| Public debt | |
| Public debt 2022 | 203.29% of GDP (2022 est.) |
| Budget | |
| Revenues | $98.523 billion (2019 est.) |
| Expenditures | $97.277 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.22% of GDP (2023 est.) |
| Remittances 2022 | 0.28% of GDP (2022 est.) |
| Remittances 2021 | 0.32% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2.6% (2021 est.) |
| Highest 10% | 24.8% (2021 est.) |
| Average household expenditures | |
| On food | 17.6% of household expenditures (2021 est.) |
| On alcohol and tobacco | 4.8% of household expenditures (2021 est.) |
| Imports | |
| Imports 2023 | $117.922 billion (2023 est.) |
| Imports 2022 | $127.82 billion (2022 est.) |
| Imports 2021 | $103.532 billion (2021 est.) |
| Imports (partners) | China 12%, Germany 9%, Russia 9%, Italy 7%, Iraq 7% (2022) |
| Comodities Imports force | crude petroleum, natural gas, refined petroleum, garments, packaged medicine (2022) |
| Exports | |
| Imports 2023 | $117.922 billion (2023 est.) |
| Imports 2022 | $127.82 billion (2022 est.) |
| Imports 2021 | $103.532 billion (2021 est.) |
| Exports (partners) | Italy 10%, Bulgaria 7%, Germany 6%, Cyprus 5%, Turkey 5% (2022) |
| Comodities Exports force | refined petroleum, packaged medicine, aluminum, natural gas, plastic products (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $375.78 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $368.37 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $348.977 billion (2021 est.) |
| GDP (official exchange rate) | $238.206 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $36,300 (2023 est.) |
| Real GDP per capita 2022 | $35,300 (2022 est.) |
| Real GDP per capita 2021 | $33,000 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 4.1% (2017 est.) |
| Industry | 16.9% (2017 est.) |
| Services | 79.1% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 69.6% (2017 est.) |
| Government consumption | 20.1% (2017 est.) |
| Investment in fixed capital | 12.5% (2017 est.) |
| Investment in inventories | -1% (2017 est.) |
| Exports of goods and services | 33.4% (2017 est.) |
| Imports of goods and services | -34.7% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 11% (2023 est.) |
| Unemployment rate 2022 | 12.43% (2022 est.) |
| Unemployment rate 2021 | 14.66% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 26.6% (2023 est.) |
| Male | 24.3% (2023 est.) |
| Female | 29.5% (2023 est.) |
All Important Facts about Greece
Want to know more about Greece? Check all different factbooks for Greece below.
