Greece Overview of Economy
Greece overview iv economy
Greece Economic Overview: Information for Foreign Investors
- EU Membership:
- Greece is a member of the European Union.
- This membership provides access to EU markets and resources.
- Regional Significance:
- Greece serves as a base for economic activity in the Balkan region and the Eastern Mediterranean.
- It is the only EU member state in this region.
- Foreign Investment:
- Government privatization efforts, initiated in 1998, have attracted foreign investment.
- EU investment budgets have been allocated to Greece to promote further investment.
- Athens Stock Exchange:
- The Athens Stock Exchange has experienced periods of rapid growth.\
- Trade Partners:
- Greece's primary trading partners are EU member states.
- Significant export activity exists with Germany.
- Major import sources include Italy and Germany.
- Natural Resources:
- Greece possesses deposits of lignite and bauxite.
- Oil reserves are present.
Industrial Sectors:
- Key industrial sectors include:
- Food processing.
- Textiles.
- Chemicals.
- Tobacco processing.
- Mining.
- GDP (PPP):
- In 2003, Greece's per capita GDP (PPP) was approximately $19,900.
- Sectoral Contributions to GDP:
- Agriculture and fishing contributed approximately 6.8% to GDP.
- Industry contributed approximately 22% to GDP.
- EU funding:
- Greece recieves funding from the EU.