Greece economy and business is based on a capitalist economic structure. Greece economy is dominated by public sector spending and Greece tourism. Greece business is centered around tourism, mining, petroleum, chemicals, food processing, textiles, metal products, tobacco processing. Greece real growth rate has been estimated at 4.2% in the year 2006.
Greece Economy
Greece economy is measurable by certain parameters:
- The Gross Domestic Product or the GDP, which is the purchasing power parity, as per 2006 estimates is US $ 256.3 billion
- The GDP as per official exchange rates is US $ 223.8 billion
- Real GDP growth rate in 2006 was estimated at 4.2%
- The per capita GDP as per estimates in 2006 is US $24,000
- Greece has a total labor force of approximately 4.9 million of which 68% is employed in the services sector, 20% in the industrial sector and remaining 12% in the agricultural sector
- Greece tourism accounts for 15% of Greek GDP
- Total revenues amounted to US $ 99.16 billion; total expenditures was US $ 106.7 billion as per 2006 estimates
- Greece currency is the Euro which replaced the traditional Greek currency Drachmas in 2002.
Greece Business
Greece business is predominant in the service sector. Greece tourism, Greece Insurance, Greece real estate, Greece Stock exchange, Greece legal services, Banking in Greece comprise the business activities in the services sector.
Food and beverages, petroleum products, chemicals, textiles, manufactured goods are the important exports from Greece. Transport equipments, fuels, chemicals and machineries constitute the main imports of Greece.
Banking in Greece is a vital commercial activity. National Bank of Greece having branches in all major cities of Greece is a leading banker of the nation. Greece maritime industries also form an important industrial activity of Greece business.
Greece economy and business is heavily dependent on the aid it receives from the European Union. The EU aid amounts to 3.3% of the total Greek GDP.
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Greece Economy and Business |
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