Greece has a mixed capitalist economy with the
public sector accounting for about half of GDP. The government plans
to privatize some leading state enterprises. 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 with the goal of qualifying Greece
to join the EU's single currency (the euro) in 2001. In particular,
Greece has cut its budget deficit below 2% of GDP and tightened
monetary policy, with the result that inflation fell below 4% by the
end of 1998 - the lowest rate in 26 years - and averaged only 2.6% in
1999. Further restructuring of the economy and the reduction of
unemployment remain major challenges.

purchasing power parity - $149.2 billion (1999 est.)

3% (1999 est.)

purchasing power parity - $13,900 (1999 est.)

agriculture: 8.3%
industry: 27.3%
services: 64.4% (1998)

NA%

lowest 10%: NA%
highest 10%: NA%

2.6% (1999 est.)

4.32 million (1999 est.)

services 59.2%, agriculture 19.8%,
industry 21% (1998)

9.9% (1999 est.)

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

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

1% (1999 est.)

43.677 billion kWh (1998)

fossil fuel: 8.26%
hydro: 91.24%
nuclear: 0%
other: 0.5% (1998)

42.18 billion kWh (1998)

900 million kWh (1998)

2.46 billion kWh (1998)

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

$12.4 billion (f.o.b., 1998)

manufactured goods, food and beverages, fuels
(1998)

EU 56% (Germany 25%, Italy 11%, UK 8%, France 6%),
US 16% (1997)

$27.7 billion (c.i.f., 1998)

manufactured goods, foodstuffs, fuels,
chemicals (1998)

EU 61% (Italy 16%, Germany 16%, France 8%, UK 7%,
Netherlands 5%) US 11% (1997)

$41.9 billion (1998)

$5.4 billion from EU (1997 est.)

1 drachma (Dr) = 100 lepta

drachmae (Dr) per US$1 - 326.59 (January 2000), 305.65
(1999), 295.53 (1998), 273.06 (1997), 240.71 (1996), 231.66 (1995)

calendar year