Greece Economic information

Greece is a country located in Southeastern Europe. The economy of Greece, a member of the Eurozone, is dependent on the European Union due to the influence of the Euro. However, the country has come to the fore with the economic crises and debt problems it has experienced in recent years. Greece's economy is based on agriculture, tourism, transportation, communications, finance and service sectors. The agricultural sector accounts for approximately 12% of the country's total employment. Major agricultural products include wheat, barley, corn, olives, grapes, citrus fruits, tomatoes, potatoes and cotton. The tourism sector makes a significant contribution to Greece's economy. The country attracts millions of tourists annually due to its historical and cultural riches, beautiful beaches and natural beauties. Especially touristic regions such as Athens, Thessaloniki, Santorini, Mykonos and Rhodes are among the popular destinations. The main products in Greece's exports include oil and petroleum products, chemicals, machinery and equipment, agricultural products, textiles and clothing. Energy products, chemicals, machinery, vehicles, electronic products, food and unprocessed minerals play an important role in imports. However, Greece experienced a major economic collapse as a result of the global financial crisis that started in 2008. The country's public debt exceeded 180% of the national income and it became unable to pay its debts. This situation made it necessary for Greece to receive financial assistance from the European Union and the International Monetary Fund (IMF). Greece had to implement a strict fiscal discipline program in exchange for financial aid. Within the scope of this program, public expenditures were cut, taxes were increased and structural reforms were carried out. However, these measures caused a serious contraction in the Greek economy and an increase in the unemployment rate. Although the Greek economy has shown signs of recovery in recent years, it still faces significant problems. The country still needs financial assistance to pay its debts. In addition, the unemployment rate is still at high levels and unemployment among the young population continues to be a major problem.