The main articles are:
GDP
2022
Industry's share of GDP is less than 12.5%
GDP size forecast - $0.22 trillion
2021
Agriculture's share of GDP - 3.9%
GDP growth of 8.3%
At the end of 2021 GDP Greece , it increased by 8.3%. This was announced in mid-January 2022 by analysts of the international rating agency. Fitch According to them, the economy of the European country grew almost twice as much as expected.
The National Bank of Greece estimated the country's GDP growth at 7.2% at the end of 2021, which is significantly higher than the dynamics of the previous year. The bank noted that Greece's economic activity in 2021 was recovering at a rapid pace after a significant decline in 2020 due to restrictions imposed to prevent the further spread of the COVID-19 coronavirus. After the country reopened to travelers, its GDP recovered significantly in the second half of 2021.
Fitch notes that the total level of overdue loans of large Greek banks fell sharply in 2021, falling to €20.9 billion from €60 billion a year earlier. The share of overdue loans decreased to 15% from 36.3%.
According to the European Commission report, Greece's real GDP reached its pre-pandemic level in the second quarter of 2021. The recovery was due to domestic demand, in particular investment, and the accumulation of reserves, and the ongoing fiscal stimulus played a decisive role in supporting the economy, the report said.[1]
Financial system
Key rate
Non-financial debt
2022: Aggregate non-financial debt
National debt
2023
Public debt - 177% of GDP
Ex-Minister of Finance of Greece called the country bankrupt with a public debt of 400 billion euros
In May 2023, the ex-Minister of Finance of Greece called the country bankrupt. He noted that recognition of bankruptcy of the state is a political issue.
As of December 31, 2022, the national debt of Greece amounted to €400 billion. Repayment is calculated until 2060, but economists consider this impossible.
2022: Foreigners leave the country's public debt, rates rise
2021
2020:211% OF GDP
2018: State debt per capita $49.6 thousand
2017
External debt
According to Fitch, Greece's foreign debt decreased from 206.3% of GDP in 2020 to 198.4% of GDP in 2021.
Inflation
2022
Inflation in July - 11.6%
Inflation in April - 10.2%
Inflation in Greece in April 2022 reached double digits for the first time in 27 years, driven by rising electricity and fuel prices.
Power
2023: Government contributions to pay for energy by citizens and companies reached 5% of GDP
2022
Share of solar and wind power - 28.7%
Rise in electricity prices due to pressure on Russia
from
2021: Oil is the main source of energy in the country
2020: Energy consumption per capita
and
Energy carriers
2023: Moldova's Energocom buys Russian gas from Greece's DEPA Commercial, which receives it through Blue Stream
The Greek state-owned company DEPA Commercial in September 2023 won a tender for the supply of 100 million cubic meters of gas for Moldovan Energocom in the first quarter of 2024.
The cost of the purchased gas is not indicated, but the next loan EBRD for these needs amounted to 100 million euros.
At the same time, DEPA Commercial signed a contract with Gazprom"" for gas supplies until 2026: the Russian company supplies Greece about 2 billion cubic meters per year through Turkish stream"."
Greece also receives gas through the Trans-Adriatic gas pipeline from Azerbaijan, but, according to the Greek authorities, it provides only 20% of the country's gas needs.
Earlier, the chairman of the board of Moldovagaz, Vadim Cheban, said that Russian gas, purchased at exorbitant prices through European companies, was entering the country.
2020: Share of gas supplies from Russia more than 25%
Gasoline price
Oil tankers
E-government
Salaries
2023: Minimum wage - $626
2018: Salaries of top officials in government management
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2017: Average monthly salary
Labour market
2022: Proportion of workers aged 65 or over - less than 5%
2015: More than 11.2% of workers work 60 or more hours a week
Unemployment
2023: Youth unemployment 23.6%
2022: Unemployment rate - 12.3%
2020: Unemployment rate - 19.9%
Consumption
2023: Poultry meat is the most consumed type of meat
2019
Pork is the most consumed type of meat
Beer consumption in liters of strength 5%
2018
The number of cars per 1000 people of the population
Per capita tea consumption per kg per year
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Milk consumption in liters per year per person
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Beer consumption in liters per year per person
Information Technology
Communication (Greek market)
Trade
2022: China trade deficit
2019: Computer Device Exports
2018
Tourism
2023: Reduction of tourist flow from Russia by 1% to 35.7 thousand people
In 2023, the tourist flow from Russia to Greece amounted to 35.7 thousand people, which is 1% less than a year earlier. This is evidenced by the data of the Bank of Greece, published in February 2024.
According to the Prime agency, citing materials from the regulator, Greece's revenues from Russian tourists in 2023 decreased by 20.8% compared to 2022 - to 32.8 million euros. In total, tourism brought the country 20.46 billion euros in revenue at the end of 2023, which is 15.7% more than a year ago.
In 2023, 32.7 million people visited Greece for tourism, which is 17.6% higher than the result of the previous year. The tourist flow to the country turned out to be a record, and the previous maximum was dated 2019 - then before the COVID-19 coronavirus pandemic, the number of tourists in Greece reached 31.35 million people.
The tourist flow from the EU countries to Greece at the end of 2023 amounted to 19.64 million people, which is 15.6% more than a year earlier. As for non- YeS-27 countries, the tourist flow from Britain increased by 2.4% to 4.59 million travelers, and from the United States - by 29.2% to 1.41 million people.
Residents of EU countries accounted for 11.16 billion euros of Greek tourism revenues in 2023. Among non-EU countries, revenues from Britain increased by 5.8% to 3.31 billion euros, and from the United States - by 14.0% to 1.37 billion euros.
Prime recalls that against the background of European sanctions, Greece has stopped air traffic with the Russian Federation, in this regard, Russian tourists can enter the country only through third countries, including Turkey, Serbia, Egypt, the UAE, etc. According to the Association of Tour Operators of Russia (ATOR), the cost of a weekly tour to Greece for Russians by mid-2023 began at 125 thousand rubles. The main clients who are interested in this area are wealthy Russians, the association said.[2]
2022:28 million foreign tourists
2019
More than 2% of the population went on tourist trips. Albania is the most popular country
How much Greece is dependent on tourism:% of the industry in GDP
2018: Tourism revenue
Alcohol market
Minimum age to purchase alcoholic beverages
R&D
2020: R&D spending - $2.4 billion
Agriculture
2019: Average use of pesticides in agriculture
Food industry
2021: Cheese production - 21.5kg per capita
Notes
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