GREECE INDUSTRY OVERVIEW
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GREECE INDUSTRY OVERVIEW

GDP (Million $) – 242.385 (IMF, 2023)
GDP Per Capita ($) – 23.173
Growth Rate (%) – 2,46
Population – 10.460.000
Total Area (km2) – 131.957
Capital – Athens

 

INDUSTRY

According to current prices, Greece is the 54th largest economy in the world among 196 countries as of 2023. GDP, which is expected to increase by 2.5% in 2023 based on constant prices, is estimated to increase by 2% in 2024. According to current prices, Greece ranks 48th in the world with a per capita national income of 23 173 dollars in 2023. It is estimated that the annual average inflation rate, based on consumer prices, which was 4.1% in 2023, will be 2.8% in 2024.

Greece's exports were worth 57 billion dollars and imports were worth 98 billion dollars in 2022, and the trade deficit was worth 40 billion dollars. Greece's exports in 2022 increased by 22% compared to the previous year. The country ranks 55th with a 0.2% share of world exports. Greece, whose high technology exports are 2 billion dollars in 2021, ranks 45th in the world. In 2022, Greece's imports increased by 27% compared to the previous year, and its share in world imports was 0.4%.

The leading product groups in Greece's exports in 2022 are petroleum oils and oils obtained from bituminous minerals, petroleum gases, pharmaceuticals, aluminum sheets, sheets and strips.

Crude oil, petroleum gases, petroleum oils and oils obtained from bituminous minerals, medicines and automobiles are at the top of its imports.

The share of Greece's industrial sector in GDP comes after services and has traditionally been in the range of 12-14%. With the economic crisis conditions being brought under control and direct investments increasing, the share of the industry in the economy, which has expanded albeit limitedly since 2014, jumped in 2021 and rose to 18.4%. It continued to increase in the following years.

Metal

Greece has a steel industry, with companies like Hellenic Halyvourgia being a major player. They are involved in the production of steel and steel products. The country also has some aluminum production facilities.

Various companies in Greece are engaged in metal processing and fabrication. This includes the production of metal structures, components, and other products for construction and industrial applications.

Greece exports some metal products, including steel and aluminum, to other countries. The demand for Greek metal products is influenced by global economic conditions and market trends.