Country Information

• GDP: US$ 321 billion (2009).
• Main exports: Food and beverages, manufactured goods, petroleum, chemicals and textiles.
• Main imports: Machinery, transport equipment, fuels and chemicals.
• Main trade partners: Germany, Italy, Bulgaria, UK, Russia, China and France.

While agricultural accession to the EU brought new focus to the Greek economy, particularly industrial sectors, in 2009 the Greek economy went into recession, contracting by 2%. Although Greece’s financial struggles can be explained in part by the conditions that have affected the rest of the world, there are other factors that have contributed that are particular to the country.

The failure to address a growing budget deficit, falling state revenues and increased government expenditure have meant that Greece required the biggest bailout in recent history from the EU and IMF. The financial assistance has come with conditions and the new austerity measures, including dramatic cuts in public spending and increased taxes have seen protests in the streets of Athens and anger amongst the countries unions. The ratings agency S&A has already downgraded Greek debt to junk, meaning Greece is now a viewed as highly risky place to invest. Unemployment in Greece in currently around 12%, expected to grow to above 13% in 2011 and most recent figures show inflation at 3.9%.

Regardless of Greece’s current financial situation, since the 1980s tourism has played an increasingly important part in the economy and it now accounts for 15% the country’s GDP.

Formal suits are expected. French, German and English are often spoken as well as Greek.

Office hours: Mon-Fri 0900-1700.

Athens Chamber of Commerce & Industry (ACCI)
7 Akademias Street, 106 71 Athens, Greece
Tel: 210 360 4815.
Website: www.acci.gr

Greece has many convention centres and hotels with conference facilities. It also has ships equipped for ‘floating conferences', sailing between the islands. For further enquiries, contact the Greek National Tourism Organisation (see Contact Addresses).