Economy of Greece
Greece is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developed nation, Greece is able to provide its citizens with social services like public education, healthcare, and law enforcement. Citizens of developed nations enjoy a high standard of living and longer life expectancies than citizens of developing nations. Each year, Greece exports around $30.39 billion and imports roughly $50.58 billion. 20.9% of population in the country are unemployed. The total number of unemployed people in Greece is 2,328,712. In Greece, 36% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Greece is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 4% of GDP. The Gini Index of the country is 34.4. Greece is experiencing good equality. The majority of citizens in Greece fall within a narrow range of income, although some cases may show significant differences. Greece has a Human Development Index (HDI) of 0.853. Greece has a very high HDI score. This indicates that nearly all citizens are able to attain a desirable life because of social and economic support; citizens with a low standard of living receive aid and support and have the opportunity to advance in society. The Global Peace Index (GPI) for Greece is 1.878. Due to strong law enforcement presence and high social responsibility, Greece is very safe by international standards. The strength of legal rights index for Greece is 3. Overall, it is considered to be rather inadequate - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient.
The currency of Greece is euro. There are several plural forms of the name 'euro'. These are euro, euros. The symbol used for this currency is €, and it is abbreviated as EUR. The euro is divided into Cent; there are 100 in one euro.
The depth of credit information index for Greece is 7, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Greece has a credit rating score of CCC-, and the prospects of this rating are negative. According to the Fitch credit-rating agency, Greece has a credit rating score of CCC, and the prospects of this rating are negative. According to the Moody's credit-rating agency, Greece has a credit rating score of Caa3, and the prospects of this rating are negative.
In Greece, the institution that manages the state's currency, money supply, and interest rates is called Bank of Greece. Locally, the central bank of Greece is called Τράπεζα της Ελλάδος. The average deposit interest rate offered by local banks in Greece is 2.23%.
The government debt of Greece has not been calculated yet.
The corporate tax in Greece is set at 29%. Personal income tax ranges from 22% to 42%, depending on your specific situation and income level. VAT in Greece is 24%.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Greece is $285297 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Greece was last recorded at $26 million. PPP in Greece is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Greece is 242,230 billion. Based on this statistic, Greece is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Greece. The Gross Domestic Product (GDP) per capita in Greece was last recorded at $22 million. The average citizen in Greece has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Greece averaged 0.6% in 2014. According to this percentage, Greece is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Greece.
Major industries in the country are tourism, food and tobacco processing, textiles, chemicals, metal products, mining, petroleum. The total labor force of Greece is 4,875,490 people, wherein 20.9% of population in the country are unemployed. The total number of unemployed people in Greece is 2,328,712. The Industrial Production growth rate of Greece is 3.2%.To read more about industrial information within Greece click on industry of Greece.
There are 26749 km2 of arable land in Greece, and it comprises 20% of the country's total territory. There are 37985 km2 of cultivated land in Greece. The country's major agricultural crops and products are wheat, corn, barley, sugar beets, olives, tomatoes, wine, tobacco, potatoes, beef, dairy products.To read more about agriculture click on agriculture of Greece.