Economy of Greece

Last Update November 4, 2025

The “big-five” of Greece’s economy:

Tourism – the largest growth engine of the economy, especially in the years since the economic crisis, and, it was already quite important before that. Whether from direct or indirect spending, tourism money makes a big impact, especially on the islands.

Shipping & maritime services – Greece controls one of the world’s largest merchant fleets. Freight earnings, ship management, bunkering, and marine services bring in major foreign income. Most Greek-owned ships don’t sail under the Greek flag, though, they’re mainly registered in large open registries (for example Liberia and the Marshall Islands) plus a few EU registries

Domestic services & trade – wholesale/retail, finance, real estate, public administration, and professional services form the bulk of day-to-day GDP and employment.

Energy & refining – Greece is a regional hub for petroleum refining and fuel exports, an area that is rapidly growing, particularly in gas infrastructure (LNG) and renewables (wind/solar).

Agri-food & fisheries – olives/olive oil, fruit/veg, wine, cheese, seafood and aquaculture feed local demand and exports; anchors rural employment and food processing.

MEDIA REPORTS

Eurozone economy could go from sluggish to full-blown recession if US-led trade war erupts

November 17, 2024: Story at Capital [Greek]

After "world’s longest recession" Greece came back

...Greece was all but eradicated as a functioning economy by a sovereign debt crisis in 2009-10 that led to fears of a default and of this small, southern European economy bringing down the whole eurozone...."

April 20, 2024: Story at UK The Times [English]