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consulate(s) general: Thessaloniki

Flag description: nine equal horizontal stripes of blue alternating with white; there is a blue square in the upper hoist-side corner bearing a white cross; the cross symbolizes Greek Orthodoxy, the established religion of the country

Greece Economy

Economy - overview: Greece has a mixed capitalist economy with the public sector accounting for about half of GDP. Tourism is a key industry, providing a large portion of GDP and foreign exchange earnings. Greece is a major beneficiary of EU aid, equal to about 4% of GDP. The economy has improved steadily over the last few years, as the government has tightened policy in the run-up to Greece's entry into the EU's Economic and Monetary Union (EMU) on 1 January 2001. In particular, Greece has cut its budget deficit to below 1% of GDP and tightened monetary policy, with the result that inflation fell from 20% in 1990 to 3.1% in 2000. Major challenges remaining include the reduction of unemployment and further restructuring of the economy, including the privatization of some leading state enterprises. Growth, 3.8% in 2000, may fall off to 3%-3.5% in 2001.

GDP: purchasing power parity - $181.9 billion (2000 est.)

GDP - real growth rate: 3.8% (2000 est.)

GDP - per capita: purchasing power parity - $17,200 (2000 est.)

GDP - composition by sector: agriculture: 8.3%

industry: 27.3%

services: 64.4% (1998)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%: 3%

The 2001 CIA World Factbook

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