Travel and tourism, transport, ICT, petroleum refined oil, insurance and finance, computers, toys, machinery, fish and textiles are major industries of Greece. In 2017, Agriculture industry contributed 4.10% to GDP of Greece. Manufacturing had a share of 16.90% while services industry had a share of 79.10% of GDP in 2017.
In 2017, Services industry exports was valued at USD 32.3 billion for Greece. Electronics export accounted for USD 1.10 billion, machinery for USD 2.02 billion, chemicals for USD 3.89 billion, metals for USD 3.96 billion, minerals for USD 10.5 billion, textiles for USD 1.73 billion and agriculture for USD 6.95 billion in 2017.
Greece, officially the Hellenic Republic, is a country in Southern Europe. According to the 2011 census, Greece's population is around 11 million. Athens is the nation's capital and largest city. Major economy boosters and industries in Greece are tourism, food and tobacco processing, textiles, chemicals, metal products, mining, petroleum. Tourism has become a booming industry Industrial production growth rate, with 5.8% in 2010 and the steady climb is recorded with the current market economic conditions.
Greece is expected to have population of 10.682 million in the year 2019 and expected to reach 10.412 million by 2024. Greece’s 3.91 million population is expected to be employed in 2019 and the unemployment rate is expected to be 18.463% of total labor force.
Greece’s real gross domestic product (GDP) is expected to be around Euro 195.719 billion in 2019 whereas the nominal GDP is expected to be Euro 191.901 billion. This will result in GDP deflator 98.049. Per capita GDP is expected to be at USD 20571.75 whereas purchasing power parity (PPP) based per capita GDP is expected to be at USD 30505.84. The output gap for Greece in 2019 is expected to be negative at 4.401% of the potential GDP.
In 2019, Greece government’s revenue is estimated to be Euro 91.212 billion whereas the expenditure is estimated to be Euro 91.506 billion. This will result in Greece government’s net lending / borrowing negative at Euro 0.295 billion in 2019 indicating that enough financial resources will not be made available by the government to boost economic growth.
The current account balance for Greece is expected to be negative at USD 5.849 billion for the year 2019 and is expected to decline at a CAGR of 8.88% and reach 8.825 by 2024.
Greece is ranked 79th among 190 economies in the ease of doing business, the rank of Greece deteriorated to 79 in 2019 from 72 in 2018.
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