The Greek Economy

2017 was a landmark year for the Greek economy, as it ended a multiannual period of economic crisis and recession, bringing it back to the pathway of growth.

More specifically, 2017 is the first year of economic recovery based on healthy sources (exports, investments, reforms and program compliance) that are capable of providing continuity and sustainability to growth.

2018 is also a key year for the Greek economy, since it launches its exit from the Memoranda and the tough guardianship in order to bring in it line with a sustainable, balanced and fair development.

Major Economic Indicators

2010 2011 2012 2013 2014 2015 2016
GDP (Constant prices 2010) -5,5% -9,1% -7,3% -3,2% 0,7% -0,3% -0,2%
Inflation: Annual Average 4,7% 3,3% 1,5% -0,9% -1,3% -1,7% -0,8%
Labour Productivity (EU-28=100)** 89,5 85,5 85,9 86,9 86,2 83,2 81
Unemployment Rate 12,7% 17,9% 24,4% 27,5% 26,5% 24,9% 23,5%
Public Investments (%GDP)** 3,7% 2,5% 2,5% 3,4% 3,7% 3,9% 3,2%
Exports (Goods - Current Prices)* 21,1 24,3 27,6 27,6 27,1 25,9 25,4
Imports (Goods - Current Prices)* 50,5 48,4 49,3 46,9 48,3 43,6 44,0

*billion Euro
** Source: Eurostat
Source: Hellenic Statistical Authority

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