nearly one-fifth of the work force, mainly in menial jobs. Greece isa major beneficiary of EU aid, equal to about 3.3% of annual GDP.
The Greek economy grew by about 4.0% for the past two years, largely
because of an investment boom and infrastructure upgrades for the
2004 Athens Olympic Games. Despite strong growth, Greece has failed
to meet the EU's Growth and Stability Pact budget deficit criteria
of 3% of GDP since 2000; public debt, inflation, and unemployment
are also above the eurozone average. Further restructuring of the
economy will need to include privatizing of several state
enterprises, undertaking pension and other reforms, and minimizing
bureaucratic inefficiencies.
GDP (purchasing power parity):
$226.4 billion (2004 est.)
GDP - real growth rate:
3.7% (2004 est.)
GDP - per capita:
purchasing power parity - $21,300 (2004 est.)
GDP - composition by sector: agriculture: 7% industry: 22% services: 71% (2004 est.)
Labor force:
4.4 million (2004 est.)
Labor force - by occupation:
agriculture 12%, industry 20%, services 68% (2004 est.)
Unemployment rate:
10% (2004 est.)
Population below poverty line:
NA
Household income or consumption by percentage share:
lowest 10%: 3%
highest 10%: 28.3% (1998 est.)
Distribution of family income - Gini index:
35.4 (1998)
Inflation rate (consumer prices):
2.9% (2004 est.)
Investment (gross fixed):
27% of GDP (2004 est.)
Budget:
revenues: $54.39 billion
expenditures: $64.4 billion, including capital expenditures of NA
(2004 est.)
Public debt:
112% of GDP (2004 est.)
Agriculture - products:
wheat, corn, barley, sugar beets, olives, tomatoes, wine, tobacco,
potatoes; beef, dairy products
Industries:
tourism; food and tobacco processing, textiles; chemicals, metal
products; mining, petroleum
Industrial production growth rate:
4.1% (2004 est.)
Electricity - production:
47.22 billion kWh (2002)
Electricity - production by source: fossil fuel: 94.5% hydro: 3.8% nuclear: 0% other: 1.7% (2001)
Electricity - consumption:
47.42 billion kWh (2002)
Electricity - exports:
1.1 billion kWh (2002)
Electricity - imports:
4.6 billion kWh (2002)
Oil - production:
5,992 bbl/day (2001 est.)
Oil - consumption:
405,700 bbl/day (2001 est.)
Oil - exports:
84,720 bbl/day (2001)
Oil - imports:
468,300 bbl/day (2001)
Oil - proved reserves:
4.5 million bbl (1 January 2002)
Natural gas - production:
35 million cu m (2001 est.)
Natural gas - consumption:
2.021 billion cu m (2001 est.)
Natural gas - exports:
0 cu m (2001 est.)
Natural gas - imports:
2.018 billion cu m (2001 est.)
Natural gas - proved reserves:
254.9 million cu m (1 January 2002)
Current account balance:
$-8 billion (2004 est.)
Exports:
$15.5 billion f.o.b. (2004 est.)
Exports - commodities:
food and beverages, manufactured goods, petroleum products,
chemicals, textiles
Exports - partners:
Germany 13.2%, Italy 10.3%, UK 7.5%, Bulgaria 6.3%, US 5.3%, Cyprus
4.6%, Turkey 4.5%, France 4.2% (2004)
Imports:
$54.28 billion f.o.b. (2004 est.)
Imports - commodities:
machinery, transport equipment, fuels, chemicals
Imports - partners:
Germany 13.3%, Italy 12.8%, France 6.4%, Netherlands 5.5%, Russia
5.5%, US 4.4%, UK 4.2%, South Korea 4.1% (2004)
Reserves of foreign exchange and gold:
$7.3 billion (2004 est.)
Debt - external:
