Greece Economy

Greece economy explained in simple words

Size of the economy

The economy of Greece produced goods and services worth $280.6B in 2025, making it the 52nd largest of 214 economies with data.

With a population of about 10.4 million, GDP per person is $26,948. The World Bank classifies Greece as a “high income” economy.

Economic growth

Real GDP grew 1.9% in 2026, compared with world growth of 3.5% (IMF).

Over the last 10 years growth averaged 2.1% a year, ranging from 1.8% to 2.4%.

The IMF projects growth of 1.8% in 2026.

Prices and interest rates

Consumer price inflation was 3.8% in Aug 2026 (reference: the European Central Bank’s 2% target).

The European Central Bank policy rate, which applies to all euro-area members, was 2.50% at the end of Sep 2026.

The difference between the two — the real interest rate — is about -1.27%.

Jobs

The unemployment rate was 7.4% in Aug 2026 (world: 4.8%).

About 52.0% of people aged 15 and over are in the labour force (working or looking for work).

Government finances

General government debt was 146.6% of GDP in 2025, compared with a median of 52.9% across 191 economies.

The government budget balance was 1.7% of GDP (2025) — a surplus, meaning revenue exceeded spending.

Trade and external position

The current account was -5.6% of GDP in 2025 — a deficit with the rest of the world.

Exports of goods and services were $110.7B and imports $123.5B.

Foreign exchange reserves (including gold) stood at $24.0B.

Structure of the economy

By sector, value added is split roughly as: services 67.4%, industry 15.2%, agriculture 3.6% of GDP.