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    Greece Economy - 2004
    https://immigration-usa.com/wfb2004/greece/greece_economy.html
    SOURCE: 2004 CIA WORLD FACTBOOK

      Economy - overview:
      Greece has a mixed capitalist economy with the public sector accounting for half of GDP and with per capita GDP 70% of the leading euro-zone economies. Tourism provides 15% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in menial jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of GDP. The Greek economy grew by 4.0% in 2003 and is expected to grow by 4.2% in 2004, the year that Athens will host the 2004 Olympic Games. Remaining challenges include the reduction of the public debt, inflation, and unemployment; and further restructuring of the economy, including privatizing several state enterprises, undertaking pension and other reforms, and minimizing bureaucratic inefficiencies.

      GDP:
      purchasing power parity - $212.2 billion (2003 est.)

      GDP - real growth rate:
      4% (2003 est.)

      GDP - per capita:
      purchasing power parity - $19,900 (2003 est.)

      GDP - composition by sector:
      agriculture: 8.1%
      industry: 22.3%
      services: 69.3% (2002 est.)

      Population below poverty line:
      NA%

      Household income or consumption by percentage share:
      lowest 10%: 3%
      highest 10%: 25.3% (1993 est.)

      Distribution of family income - Gini index:
      32.7 (1993)

      Inflation rate (consumer prices):
      3.3% (2003 est.)

      Labor force:
      4,406,700 (2nd quarter 2003 est.)

      Labor force - by occupation:
      industry 20%, agriculture 20%, services 59% (2000 est.)

      Unemployment rate:
      9.8% (2003 est.)

      Budget:
      revenues: $45 billion
      expenditures: $47.6 billion, including capital expenditures of $NA (1998 est.)

      Industries:
      tourism; food and tobacco processing, textiles; chemicals, metal products; mining, petroleum

      Industrial production growth rate:
      7% (2000 est.)

      Electricity - production:
      49.79 billion kWh (2001)

      Electricity - production by source:
      fossil fuel: 94.5%
      hydro: 3.8%
      other: 1.7% (2001)
      nuclear: 0%

      Electricity - consumption:
      48.8 billion kWh (2001)

      Electricity - exports:
      1.062 billion kWh (2001)

      Electricity - imports:
      3.562 billion kWh (2001)

      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)

      Agriculture - products:
      wheat, corn, barley, sugar beets, olives, tomatoes, wine, tobacco, potatoes; beef, dairy products

      Exports:
      $5.899 billion f.o.b. (2003 est.)

      Exports - commodities:
      food and beverages, manufactured goods, petroleum products, chemicals, textiles

      Exports - partners:
      Germany 10.4%, Italy 8.5%, UK 6.3%, Bulgaria 5.4%, US 5.3%, Cyprus 4.7% (2002)

      Imports:
      $33.27 billion f.o.b. (2003 est.)

      Imports - commodities:
      machinery, transport equipment, fuels, chemicals

      Imports - partners:
      Germany 12.2%, Italy 11.5%, Russia 7.4%, South Korea 6%, France 5.7%, Netherlands 5.6%, US 4.7%, Belgium 4.3%, UK 4.1% (2002)

      Debt - external:
      $63.4 billion (2002 est.)

      Economic aid - recipient:
      $5.4 billion from EU (1995)

      Currency:
      euro (EUR)
      note: on 1 January 1999, the European Monetary Union introduced the euro as a common currency to be used by financial institutions of member countries; on 1 January 2002, the euro became the sole currency for everyday transactions within the member countries

      Currency code:
      EUR

      Exchange rates:
      euros per US dollar - 0.89 (2003), 1.06 (2002), 1.12 (2001), 365.4 (2000), 305.65 (1999)

      Fiscal year:
      calendar year


      NOTE: The information regarding Greece on this page is re-published from the 2004 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Greece Economy 2004 information contained here. All suggestions for corrections of any errors about Greece Economy 2004 should be addressed to the CIA.

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    https://immigration-usa.com/wfb2004/greece/greece_economy.html

    Revised 21-May-04
    Copyright © 2004 Photius Coutsoukis (all rights reserved)


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