The most complete information guide about Athens, Greece
Greek Economy
With a GDP growth rate currently approaching 4%, Greece’s
growth performance is much higher than the European Union average.
In fact, Greece lies among the best performing economies in the
Euro zone and today has become the economic hub of Southeast Europe
offering a stable and healthy economic environment that is supportive
to the needs of business and investors.
Selected
Economic Indicators
1996
1998
2001
2002
2003
2004
2005*
2006*
GDP
growth at constant prices
2.4%
3.1%
4.1%
3.8%
3.8%
4.0%
3.7%
3.6%
Inflation
8.2%
4.7%
3.7%
3.9%
3.9%
3.2%
3.0%
2.9%
Unit
labour costs
8.1%
3.7%
0.9%
2.6%
2.3%
2.5%
2.3%
2.3%
General
government balance
-7.4%
-2.5%
-1.2%
-1.1%
-0.9%
-0.4%
0.2%
0.6%
General
government debt
111.3%
105.5%
107.0%
105.3%
100.2%
96.1%
92.1%
87.9%
*Forrcast
Source: Ministry of Economy and Finance
The 2002 update of the Hellenic Stability
and Growth programme: 2002-2006.
Structure
of Gross Domestic Product 1995 - 2002
Sector
Year
1995
1996
1997
1998
1999*
2000*
2001*
2002*
Primary
sector
7.277
7.035
7.343
7.731
8.459
7.686
7.795
8.329
Industry,
including energy
11.798
12.120
12.437
13.455
14.261
14.966
16.033
17.271
Construction
4.751
4.797
5.348
6.499
7.231
7.814
8.651
10.051
Trade,
hotels and restaurants,
transport and communication
19.817
20.321
24.097
26.352
28.170
31.602
34.511
35.756
Financial,
real estate, renting and business activities
15.689
16.162
18.267
20.352
22.182
23.985
25.531
26.928
Other
service activities
14.525
14.751
15.848
17.810
19.514
20.743
22.012
25.229
Sub-total
73.858
75.187
83.341
92.199
99.817
106.796
114.533
123.564
Taxes
less subsidies and other
6.069
6.625
7.705
8.306
9.769
10.794
12.082
12.538
Gross
domestic product
79.927
81.812
91.046
100.505
109.586
117.590
126.615
136.102
Index
(1995 = 100)
100,0
102,4
113,9
125,7
137,1
147,1
158,4
170,3
*provisional data
Source: national Statistical Service of Greece, National
accounts, various years
GDP
per capita 1998-2002
Current prices (in Euro)
Year
1998
1999*
2000*
2001*
2002*
Total
mid-year population
10.835.976
10.883.566
10.918.154
10.937.669
10.950.200
Gross
domestic product per capita
9.761
10.372
11.140
11.970
12.889
Index
(1995 = 100)
129,9
138
148,2
159,3
10051
*provisional
data
Source: National Statistical Service of Greece, National
accounts, various years
Basic
Economic Figures for Manufacturing in Greece 2000
Industry with average annual employment over 10 people
(5.016 companies)
Values in million Euro and in %
Branch
Production
Index 2001
(1993=100)
Production
(prices 1990)
Production
structure
(%)
Exports
(prices 1990)
Imports
(prices 1990)
Ostensible
consumption
(prices 1990)
Food
& Beverages
122,7
2499,5
29,7%
806,6
1565,1
3258,1
Tobacco
112,2
143,3
1,7%
80,5
74,7
137,4
Textiles
80,9
944,5
11,2%
410,9*
900,1*
1389,7*
Clothing
& Fur
64,4
603,2
7,2%
1040,2*
694,6*
243,3*
Leather
& footwear
65,7
89,6
1,1%
21,9
181,5
249,1
Wood
& Cork
100,5
80,0
1,0%
15,1
207,9
272,8
Paper
110,8
223,2
2,7%
40,6
439,4
622,1
Publications-Printing
114,7
255,2
3,0%
27,1
66,2
294,3
Pharmaceuticals
-Cosmetics-Chemicals
138,0
657,6
7,8%
181,7
1078,6
1554,4
Rubber-plastics
154,3
356,1
4,2%
152,8
325,8
529,1
Non
metal minerals
117,9
766,7
9,1%
156,6
242,4
852,5
Basic
metalworks
148,0
656,9
7,8%
458,4
912,3
1110,8
Metal
products
123,4
353,0
4,2%
83,9
261,1
530,2
Machines
& appliances
151,3
193,7
2,3
189,5
1093,5
1097,7
Electrical
appliances
123,1
134,3
1,6%
162,0
252,9
225,3
Telecom.
appliances
138,0
120,7
1,4%
52,8
530,9
598,8
Medical
instruments
126,4
13,0
0,2%
36,8
364,2
340,4
Vehicles
89,8
51,2
0,6%
18,1
1146,9
1180,1
Other
transportation
70,0
88,8
1,1%
109,8
881,7
860,7
Furniture
& other industry
121,1
175,7
2,1%
70,0
343,7
449,5
*for
the year 1999
Source: Trends - Greek economy 2003, Athens 2003
Structure
of Gross capital formation 1998 - 2002
Constant prices of the previous year (mil. Euro)
1995
1996
1997
1998
1999*
2000*
2001*
2002*
Agriculture-forestry-fisheries
42
31
26
37
40
40
28
30
Metal
products
and machinery
3.287
4.102
4.515
5.267
5.298
6.402
7.033
7.061
Transport
equipment
1.393
1.657
1.744
2.248
2.764
3.277
3.408
4.101
Housing
4.031
3.981
4.537
5.227
5.793
5.766
6.179
6.912
Other
constructions
5.391
5.614
6.490
7.548
8.433
9.431
10.795
11.999
Other
products
724
728
962
955
1.409
1.536
1.707
1.733
Total
14.867
16.114
18.274
21.282
23.737
26.451
29.149
31.836
Changes
in Inventories
252
290
274
223
-366
-102
156
173
Gross
Capital Formation
15.119
16.404
18.548
21.505
23.371
26.349
29.305
32.009
Index
(1995 = 100)
100,0
108,5
122,7
142,2
154,6
174,3
193,8
211,7
*provisional
data
Source: National Statistical Service of Greece, National
accounts, various years.
Imports
2001
(million
€ and %)
Food
drinks, tobacco
3549
11,6%
Raw
materials non edible
695
2,3%
Minerals
and ores
118
0,4%
Petroleum
products
4836
15,9%
Chemicals,
plastics, fertilizers etc.
3094
12,8%
Manufactures
17161
56,3%
Other
items
209
0,7%
Total
30474
100.0%
Exports
2001
(million € and %)
Food
drinks, tobacco
2432
21,0%
Raw
materials non edible
515
4,4%
Minerals
and ores
110
0,9%
Petroleum
products
1295
11,2%
Chemicals,
plastics, fertilizers etc.
1042
9,0%
Manufactures
5703
49,2%
Other
items
492
4,2%
Total
11589
100.0%
Origin
of imports 2001
(million € and %)
EU
Countries
17261
56,6%
Other
European Countries
4874
16,0%
Asia
5835
19,1%
America
1600
5,3%
Rest
of the World
904
3,0%
Total
30474
100.0%
Destination
of Exports 2001
(million € and %)
EU
countries
4842
41,8%
Other
European countries
4289
37,0%
Asia
1047
9,0%
America
914
7,9%
Rest
of the world
497
4,3%
Total
11589
100.0%
Stock
of Direct Foreign Investment in Greece (31.12.01)
Distribution by Country of Investor (in million €)
Country
Amount
(in million €)
Percentage
Austria
8,8
0,10
Belgium
116,4
0,80
Germany
1285,50
8,40
Spain
27,40
0,20
Finland
0,2
0,00
France
1.469,4
9,60
Ireland
134,6
0,90
Italy
375,00
2,50
Luxemburg
3.784,0
24,80
Holland
2.970,5
19,50
Portugal
-3,3
0,00
Total
Eurozone
10.168,4
66,60
U.K.
514,1
3,40
Denmark
21,4
0,10
Sweden
34,20
0,20
Total
EU non-Euro zone
569,8
3,70
Total
EU
10738,20
70,30
Other
European countries
2504,80
16,40
Azia
76,60
0,01
Africa
133,50
0,01
Australia
8,10
0,00
U.S.A.
1013,70
6,60
South-America
789,80
0,05
Total
non-Euro zone countries
5096,70
29,70
Total
15265,10
100,00
Source:
Bank of Greece
Directory of Statistics
Section for Balance of Payment Statistics
Office of Foereign Investments
