|
Greece - ECONOMIC INDICATORS |
|
Economic outlook
|
The Greek economy has expanded at an average rate of 3.3% in the period 1997-1999 on the back of strong investment growth (9%). In 2000 its growth rate accelerated to 4.3%. The implementation of restrictive fiscal policy and disciplined monetary policy along with comprehensive structural reforms have enabled Greece to participate in the final stage of the Economic and Monetary Union as of January 1, 2001. Prospects for high and sustainable growth and increasing employment are favourable. In the years 2001-2004 the growth rate of the Greek economy is projected to be, on average, 4%, much higher than the corresponding EU average. The unemployment rate is anticipated to fall gradually to 9% in 2004. Fixed investment growth will remain robust in view of the preparation of the Olympic Games of 2004 and the inflows from the EU Structural Funds. Inflationary pressures are expected to subside. The general government budget for 2002 envisages a three-year horizon of substantial improvement in public finances. The general government surplus is forecast to show a gradual increase (to 1.2% of GDP in 2004) and the debt to GDP ratio will continue declining (to 90% of GDP in 2004). The privatisation programme will move ahead and several structural reforms will be implemented in order to improve the international competitiveness of the economy and strengthen competition in the domestic goods and services markets.
|
|
| Indicators |
2005
|
2006
|
| GDP (USD billion) |
219.587
|
226.034
|
| Real GDP growth (constant prices) |
3.2
% |
2.9
% |
| GDP per capita (USD) |
20005.521
|
20592.880
|
| Inflation rate |
3.5
% |
3.3
% |
|
General economic indicators |
| Indicators |
2002
|
2003
|
2004
|
| GDP (USD billion) |
133.0
|
172.2
|
203.4
|
| Real GDP growth (constant prices) |
3.9
% |
4.3
% |
4.2
% |
| GDP per capita (USD) |
11006
|
11449
|
11885
|
| Inflation rate |
3.6
% |
3.5
% |
2.9
% |
| Unemployment rate |
9.9%
|
9.3%
|
10.2%
|
| External debt (USD billion) |
..
|
..
|
..
|
|
Euro rate on 12/31 (1 US$)
|
0.9541
|
0.7967
|
0.7386
|
|
| Sources : IMF -
2005
data, World bank, Oanda |
| GDP per activity sector |
2002
|
2003
|
2004
|
|
Agriculture and fishing |
7.3%
|
6.9%
|
..
|
|
Industry and mining |
23.2%
|
23.8%
|
..
|
|
Services |
69.5%
|
69.3%
|
..
|
|
| FDI inflows (USD million) |
2002
|
2003
|
2004
|
World rank |
| Foreign Direct Investments (F.D.I.) |
50
|
661
|
1351
|
50
/ 197 |
|
| Source : UNCTAD "World Investment Report
2005
" |
| Indicators (USD billion) |
2002
|
2003
|
2004
|
| Imports of goods (f.o.b.) |
31.3
|
38.2
|
..
|
| Export of goods (f.o.b) |
9.9
|
12.6
|
..
|
| Trade balance |
-21.5
|
-25.6
|
..
|
| Balance of payments |
-10.4
|
-11.2
|
..
|
|
| Sources : World bank, IMF |
| Indicators |
2002
|
2003
|
2004
|
| Share of foreign trade in GDP |
48.6%
|
47.8%
|
..
|
| Share of imports in GDP |
27.7%
|
28.0%
|
..
|
| Share of exports in GDP |
20.9%
|
19.8%
|
..
|
| Imports of goods and services (percent change) |
-4.7%
|
8.0%
|
..
|
| Exports of goods and services (percent change) |
-7.7%
|
-0.2%
|
..
|
|
| Sources : World bank, IMF |
Trade in goods/services by major category |
|
2003
|
Imports |
Exports |
| Total Trade in Goods (USD billion): |
38.2
|
12.6
|
|
Agricultural raw materials |
1%
|
3%
|
| Food products |
12%
|
22%
|
| Hydrocarbons |
14%
|
7%
|
| Manufactured products (chemicals, machines,...) |
71%
|
58%
|
| Ores and metals |
2%
|
8%
|
| Other goods |
0%
|
2%
|
|
2003
|
Imports |
Exports |
| Total Trade in Services (USD billion): |
11
|
24
|
| Transport |
52%
|
45%
|
| Tourisme |
23%
|
44%
|
| Other services (insurance, financial services, telecommunications,...) |
25%
|
11%
|
|
|
Trade Data, by HS Code : |
|
|
|
|
Source : www.intracen.org, last available data |
Trade by partner countries |
Main clients
(% of exports) |
2004
|
|
Germany
|
13.2%
|
|
Italy
|
10.1%
|
|
United Kingdom
|
7.6%
|
|
Bulgaria
|
6.3%
|
|
USA
|
5.3%
|
|
Main suppliers
(% of imports) |
2004
|
|
Germany
|
13.4%
|
|
Italy
|
12.9%
|
|
France
|
6.4%
|
|
Netherlands
|
5.6%
|
|
Russian Federation
|
5.4%
|
|
Export Entreprises SA ©, All rights reserved
Last modified in
October 2005
|
|
|
