The Greek Economy
2018 was a landmark year for the Greek economy, as not only the economic recovery that started in 2017 continued, but it also marked the exit of Greece from the Memoranda and the tough guardianship and the return to a sustainable, balanced and fair development.
During 2018, apart from GDP growth, a significant increase in exports and a fall in unemployment were achieved, as shown at the following table:
Major Economic Indicators
|
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
|
|
GDP (Constant prices 2010) |
-7.3% |
-3.2% |
0.7% |
-0.4% |
-0.2% |
+1.5% |
+1.9% |
|
Inflation: Annual Average |
1.5% |
-0.9% |
-1.3% |
-1.7% |
-0.8% |
1.1% |
0.6% |
|
Labour Productivity (EU-28=100)** |
85.8 |
86.8 |
86.1 |
83.2 |
81.3 |
80.3 |
n.a. |
|
Unemployment Rate |
24.4% |
27.5% |
26.5% |
24.9% |
23.5% |
21.5% |
19.3% |
|
Public Investments (%GDP)** |
2.5% |
3.4% |
3.7% |
3.8% |
3.5% |
4.4% |
n.a. |
|
Exports (Goods – Current Prices)* |
27.6 |
27.3 |
27.1 |
25.8 |
25.5 |
28.9 |
33.4 |
|
Imports (Goods – Current Prices)* |
49.5 |
47.0 |
48.3 |
43.6 |
44.2 |
50.3 |
55.2 |
*billion Euros
** Source: Eurostat
Source: Hellenic Statistical Authority
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