Economy - overview: | Greece has a mixed capitalist economy with the public sector accounting for half of GDP and with per capita GDP 70% of the leading euro-zone economies. Tourism provides 15% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in menial jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of GDP. The Greek economy grew by 4.0% in 2003 and is expected to grow by 4.2% in 2004, the year that Athens will host the 2004 Olympic Games. Remaining challenges include the reduction of the public debt, inflation, and unemployment; and further restructuring of the economy, including privatizing several state enterprises, undertaking pension and other reforms, and minimizing bureaucratic inefficiencies. |
| GDP: | purchasing power parity - $213.6 billion (2004 est.) |
| GDP - real growth rate: | 4.7% (2004 est.) |
| GDP - per capita: | purchasing power parity - $20,000 (2004 est.) |
| GDP - composition by sector: | agriculture: 6.7%
industry: 22%
services: 71.2% (2004 est.) |
| Investment (gross fixed): | 25.5% of GDP (2004 est.) |
| Population below poverty line: | NA |
| Household income or consumption by percentage share: | lowest 10%: 3%
highest 10%: 25.3% (1993 est.) |
| Distribution of family income - Gini index: | 32.7 (1993) |
| Inflation rate (consumer prices): | 3.6% (2004 est.) |
| Labor force: | 4.39 million (2004 est.) |
| Labor force - by occupation: | agriculture 20%, industry 20%, services 60% (2000 est.) |
| Unemployment rate: | 9.4% (2004 est.) |
| Budget: | revenues: $76.84 billion
expenditures: $79.48 billion, including capital expenditures of NA (2004 est.) |
| Public debt: | 100.9% of GDP (2004 est.) |
| Agriculture - products: | wheat, corn, barley, sugar beets, olives, tomatoes, wine, tobacco, potatoes; beef, dairy products |
| Industries: | tourism; food and tobacco processing, textiles; chemicals, metal products; mining, petroleum |
| Industrial production growth rate: | 0.7% (2004 est.) |
| Electricity - production: | 49.79 billion kWh (2001) |
| Electricity - consumption: | 48.8 billion kWh (2001) |
| Electricity - exports: | 1.062 billion kWh (2001) |
| Electricity - imports: | 3.562 billion kWh (2001) |
| Oil - production: | 5,992 bbl/day (2001 est.) |
| Oil - consumption: | 405,700 bbl/day (2001 est.) |
| Oil - exports: | 84,720 bbl/day (2001) |
| Oil - imports: | 468,300 bbl/day (2001) |
| Oil - proved reserves: | 4.5 million bbl (1 January 2002) |
| Natural gas - production: | 35 million cu m (2001 est.) |
| Natural gas - consumption: | 2.021 billion cu m (2001 est.) |
| Natural gas - exports: | 0 cu m (2001 est.) |
| Natural gas - imports: | 2.018 billion cu m (2001 est.) |
| Natural gas - proved reserves: | 254.9 million cu m (1 January 2002) |
| Current account balance: | $-11.33 billion (2004 est.) |
| Exports: | $5.899 billion f.o.b. (2004 est.) |
| Exports - commodities: | food and beverages, manufactured goods, petroleum products, chemicals, textiles |
| Exports - partners: | Germany 12.6%, Italy 10.5%, UK 7%, US 6.5%, Bulgaria 6.2%, Cyprus 4.8%, France 4.2%, Turkey 4% (2003) |
| Imports: | $33.27 billion f.o.b. (2003 est.) |
| Imports - commodities: | machinery, transport equipment, fuels, chemicals |
| Imports - partners: | Germany 12.5%, Italy 12.2%, France 6.6%, Russia 6.1%, South Korea 5.4%, US 5.2%, Netherlands 5.2%, Japan 4.3%, UK 4.2% (2003) |
| Reserves of foreign exchange & gold: | $5.802 billion (2004 est.) |
| Debt - external: | $65.51 billion (2004 est.) |
| Economic aid - recipient: | $5.4 billion from EU (1995) |
| Currency: | euro (EUR)
note: on 1 January 1999, the European Monetary Union introduced the euro as a common currency to be used by financial institutions of member countries; on 1 January 2002, the euro became the sole currency for everyday transactions within the member countries |
| Currency code: | EUR |
| Exchange rates: | euros per US dollar - 0.886 (2003), 1.0626 (2002), 1.1175 (2001), 365.399 (2000), 305.647 (1999) |
| Fiscal year: | calendar year
Source: CIA World Factbook
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