Flag description:
nine equal horizontal stripes of blue alternating with white; there
is a blue square in the upper hoist-side corner bearing a white
cross; the cross symbolizes Greek Orthodoxy, the established
religion of the country
Economy Greece
Economy - overview:
Greece has a capitalist economy with the public sector accounting
for about 40% of GDP and with per capita GDP at least 75% of the
leading euro-zone economies. Tourism provides 15% of GDP. Immigrants
make up nearly one-fifth of the work force, mainly in menial jobs.
Greece is a major beneficiary of EU aid, equal to about 3.3% of
annual GDP. The Greek economy grew by about 4.0% for the between
2003 and 2005, largely because of an investment boom and
infrastructure upgrades for the 2004 Athens Olympic Games. Economic
growth slowed to about 3% in 2005. Greece has not met the EU's
Growth and Stability Pact budget deficit criteria of 3% of GDP since
2000. Public debt, inflation, and unemployment are above the
euro-zone average. To overcome these challenges, the Greek
Government is expected to continue cutting government spending,
reducing the size of the public sector, and reforming the labor and
pension systems.
GDP (purchasing power parity):
$238.2 billion (2005 est.)
GDP (official exchange rate):
$209.7 billion (2005 est.)
GDP - real growth rate:
3.7% (2005 est.)
GDP - per capita (PPP):
$22,300 (2005 est.)
GDP - composition by sector: agriculture: 5.4% industry: 21.3% services: 73.3% (2005 est.)
Labor force: 4.72 million (2005 est.)
Labor force - by occupation: agriculture: 12% industry: 20% services: 68% (2004 est.)