Key facts
*  Currency: the €uro
*  GDP per capita: $27,800 (2017 est)
*  Unemployment rate: 16.8% (July 2020)
*  Inflation: -2% (Sept 2020)
*  Natural resources: lignite, petroleum, iron ore, bauxite, lead, zinc, nickel, magnesite, marble, salt, potential to develop hydropower.

General

The Greek economy has been in crisis as a result of the world's financial crisis and because of uncontrolled public expenditure that has caused a very high budget deficit. Its indebtedness has attracted three bailout loans from the IMF/EU, the last of which was $90 billion in August 2015.

The government is under pressure to increase tax collection, privatise state run enterprises and reduce government expenditure especially on health.

The third baillout was agreed after lengthy negotiation and polical controversy in Greece and Germany. It represents a U turn for the left wing Syriza party that come to office repudiating the austerity and reforms of its predecessor. 

Industries and exports
*  Tourism is the largest industry accounting for 15% of GDP and employing 16.5% of the workforce.
*  Shipping is an important industry accounting for 4.5% of GDP. Greece owns 18% of the world's fleet capacity, and has the largest fleet in the world of tankers and bulk carriers.
*  Exports:  food and beverages, manufactured goods, petroleum products, chemicals, textiles.
*  Principal export partners: Italy 10.6%, Germany 7.1%, Turkey 6.8%, Cyprus 6.5% (2017)