Includes Greece real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Greece economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Greece best banks and safest banks are also available.
Basic Information
Government Type: Parliamentary republic
Capital City: Athens
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank |
Bank of Greece |
---|---|
Currency |
Euros (EUR) |
International Reserves |
USD 11.93 billion (2020) World Bank, last updated 12/16/2021 |
Gross Domestic Product – GDP |
USD 211.65 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (Purchasing Power Parity) |
USD 339.67 billion (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP Data
Real GDP growth |
2017 1.3% 2018 1.6% 2019 1.9% 2020* -8.2% 2021* 6.5% *Estimate |
---|---|
GDP per capita – current prices |
USD 19,827.16 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP per capita – PPP |
USD 31,820.57 (2021 estimate) IMF – World Economic Outlook, October 2021 |
GDP (PPP) – share of world total |
0.24% (2021 estimate) |
GDP – composition by sector |
agriculture: 4.1% industry: 13.9% services: 69.8% (2020 estimate) |
Gross domestic expenditure on R&D; (% of GDP) |
1.3% (2019) |
Inflation |
2017 1.1% 2018 0.8% 2019 0.5% 2020* -1.3% 2021* -0.1% *Estimate |
Greece
Inflation & Debt
Inflation |
2017 1.1% 2018 0.8% 2019 0.5% 2020* -1.3% 2021* -0.1% *Estimate |
---|---|
Government Bond Ratings |
Standard & Poor’s: BB Moody’s: Ba3 Standard & Poor’s / Moody’s (January 2022) |
Unemployment rate |
2017 21.5% 2018 19.3% 2019 17.3% 2020* 16.4% 2021* 15.8% *Estimate |
Household saving rates |
-4.8% (2020) OECD, retrieved January 2022 |
Public debt (General government gross debt as a % of GDP) |
2017 182.4% 2018 189.9% 2019 184.9% 2020* 211.2% 2021* 206.7% *Estimate |
Public deficit (General government net lending/borrowing as a % of GDP) |
2017 4.1% 2019 4.2% 2019 3.2% 2020* -7.5% 2021* -7.3% *Estimate |
Market value of publicly traded shares | USD 51.0 billion (2020) |
Largest Companies |
National Bank of Greece, Piraeus Bank, Alpha Bank, Eurobank Ergasias, Bank of Greece |
Import/Export
Exports as percent of GDP (Exports of goods and services) | 36.1% (2018) |
---|---|
Shares in world total merchandising export |
0.20% (2018) |
Shares in world total commercial services export |
0.75% (2018) |
Total exports |
USD 81.4 billion (2018 estimate) |
Export commodities | Food and beverages, manufactured goods, petroleum products, chemicals, textiles |
Total imports | USD 85.7 billion (2018 estimate) |
Import commodities | Machinery, transport equipment, fuels, chemicals |
Exports – major partners | Italy 10.6%, Germany 7.1%, Turkey 6.8%, Cyprus 6.5%, Bulgaria 4.9%, Lebanon 4.3% (2017) |
Imports – major partners | Germany 10.4%, Italy 8.2%, Russia 6.8%, Iraq 6.3%, South Korea 6.1%, China 5.4%, Netherlands 5.3%, France 4.3% (2017) |
Competitiveness & Trade
Current account balance | USD -7.7 billion (2018 estimate) |
---|---|
Current account balance by percentage of GDP |
-3.5 % (2018 estimate) |
FDI inflows |
2016 USD 2,763 million 2019 USD 3,611 million 2020 USD 4,257 million |
FDI Outflows |
2018 USD -1,666 million 2019 USD 580 million 2020 USD 848 million |
Value of cross-border M&A, by country of purchaser |
2015 USD -140 million 2016 USD -3,462 million 2017 USD -915 million 2018 USD 629 million |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 79 out of 190 countries Subcategories: Starting a Business: 11 out of 190 countries Dealing with Construction Permits: 86 out of 190 countries Getting Electricity: 40 out of 190 countries Registering Property: 156 out of 190 countries Getting Credit: 119 out of 190 countries Protecting Minority Investors: 37 out of 190 countries Paying Taxes: 72 out of 190 countries Trading across Borders: 34 out of 190 countries Enforcing Contracts: 146 out of 190 countries Resolving Insolvency: 72 out of 190 countries |
Global competitiveness ranking |
59 out of 141 countries (2019) |
Index of Economic Freedom |
Ranking: 106 / Score: 57.7 (Mostly unfree) (100=totally free 0=totally repressed) |
Population & Geographic Data
Time Zone |
UTC+2 |
---|---|
Total Area |
131,957 sq km |
Total Population |
1990 10.12 Million 2000 10.78 Million 2010 11.12 Million 2015 10.86 Million 2020* 10.69 Million *Estimate |
Urban population as % of total population |
1960 55.9% 1980 69.3% 2000 72.7% 2018 79.1% |
Population median age |
44.9 years |
Population growth rate |
-0.07% (2018 estimate) |
Life expectancy |
80.8 years (2018 estimate) CIA World Factbook / Life expectancy |
% of population living on less than $3.10 a day |
2.7% (last available estimate, 2015) |
Inequality of wealth distribution (Gini index) |
36 (last available estimate, 2015) (0=perfect equality, 100=absolute inequality) |
Freedom House rating |
Free Political Rights: 1 Civil Liberties: 2 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed: 47% Mobile: 115.7% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population | 72.95 % (2018) |
Language & Religon
Languages |
Greek (official) 99%, other (includes English and French) 1% |
---|---|
Literacy |
Total population: 97.7% Male: 98.5% Female: 96.9% Definition: age 15 and over can read and write (2015 est.) |
Religions | Greek Orthodox (official) 81-90%, Muslim 2%, other 3%, none 4-15%, unspecified 1% (2015 est.) |
World Rankings
Population | 10.69 M |
---|---|
Mercer Cost of living index | Athens: 128th (2019) |
C02 Emissions per capita |
6.18 metric tons per capita (2014) |
Global Finance Rankings & Awards: Greece
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000