Contents extracted from the comprehensive atlas of international trade by Export Entreprises
Economic forecasts
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.
Economic forecasts
Indicators
| Indicators |
2006 |
2007 |
|
|
GDP (USD billion) |
243.3 |
266.7 |
|
|
GDP (constant prices, annual % change) |
3.7 |
3.5 |
|
|
GDP per capita (USD) |
21925.2 |
24030.4 |
|
|
Inflation, consumer prices (annual % change) |
3.6 |
3.5 |
|
Source : IMF - World Economic Outlook
Databases
General economic
indicators
| Indicators |
2003 |
2004 |
2005 |
| GDP (USD billion) (1) |
175.9 |
209.4 |
225.6 |
| GDP (constant prices, annual % change)
(1) |
4.8 |
4.7 |
3.7 |
| GDP per capita (USD) (1) |
15882.2 |
18867.2 |
20326.7 |
| Inflation, consumer prices (annual %
change) (1) |
3.4 |
3 |
3.5 |
| Unemployment rate (%) (2) |
9.3 |
10.2 |
.. |
| External debt (USD billion) (3) |
.. |
.. |
.. |
| Official exchange rate per USD (period
average) (3) |
0.9541 |
0.7967 |
0.7386 |
|
| Sources : (1) IMF - World
Economic Outlook Databases,(2) ILO - Key Indicators of the
Labour Market, (3) World Bank - World Development
Indicators |
| GDP per activity
sector |
2003 |
2004 |
2005 |
|
Agriculture and fishing (%) |
7
|
6.6
|
.. |
|
Industry and mining (%) |
23.5 |
23.1 |
.. |
|
Services (%) |
69.5 |
70.4 |
.. |
|
| Sources : World Bank -
World Development Indicators |
| Foreign
Direct Investments |
2003 |
2004 |
2005 |
World rank (*)
2005 |
| FDI inflows (USD
million) |
1275 |
2101 |
607 |
121/141 |
|
Source : UNCTAD - World
Investment Report
Note : (*) World Rank = UNCTAD Inward FDI Performance Index.
It is a measure of the extend to which a host country
receives inward FDI relative to its economic size. It is
calculated as a ratio of the country's share in global
FDI inflows to its share in global GDP. |
|
Indicators (USD billion) |
2003 |
2004 |
2005 |
| Imports of goods |
44.9 |
52.7
|
54 |
|
Export of goods |
13.4 |
15.3
|
17.2 |
| Trade balance |
-15.4 |
-17.6
|
..
|
| Current account |
-12.8 |
-13.5
|
-17.9 |
|
| Sources : World Bank -
World Development Indicators |
|
Indicators (%) |
2003 |
2004 |
2005 |
| Share
of foreign trade in GDP |
48.6 |
50.4 |
.. |
| Share
of imports of goods and services in GDP |
28.7 |
29.5 |
.. |
| Share
of exports of goods and services in GDP |
19.8
|
20.9
|
.. |
| Imports of goods and services (annual %
change) |
4.8
|
8.2 |
.. |
| Exports of goods and services (annual %
change) |
1
|
10 |
.. |
|
| Sources : World Bank -
World Development Indicators |
| Trade in goods/services by major
category |
| 2004 |
Imports |
Exports |
| Total Trade in
Goods (USD billion): |
52.7 |
15.3 |
| Agricultural raw
materials |
1.3 |
3
|
| Food
products |
11.4
|
20
|
| Hydrocarbons |
12.7
|
6.9
|
| Manufactured
products (chemicals,
machines,...) |
71.7
|
59.3
|
| Ores and
metals |
2.8 |
8.4
|
| 2004 |
Imports |
Exports |
| Total Trade in
Services (USD billion): |
13.6
|
33
|
| Transport |
52.5
|
50.1
|
| Tourisme |
21.2
|
38.5
|
|
| Sources : World Bank -
World Development Indicators |
|
Trade Data, by HS Code :
|
|
|
|
|
Source : www.intracen.org, last available data
|
| Trade by partner countries |
Main clients
(% of exports) |
|
| Germany
|
12.5%
|
| Italy |
10.5%
|
| United Kingdom
|
6.7%
|
| Bulgaria
|
5.8%
|
| Turkey
|
5.4%
|
|
Main suppliers
(% of imports) |
|
| Germany
|
13.3%
|
| Italy |
12.3%
|
| Russian
Federation |
7.7%
|
| France
|
5.7%
|
| Netherlands
|
5.5%
|
|
| Sources : Comtrade,
2005. |
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