This Survey is published on the responsibility of the Economic and Development Review Committee (EDRC) of the OECD, which is charged with the examination of the economic situation of member countries.

The economic situation and policies of Greece were reviewed by the Committee on 25 January 2016. The draft report was then revised in the light of discussions with the committee and given final approval as the agreed report of the whole Committee on 3 March 2016.

The Secretariat’s draft report was prepared for the Committee by Christian Daude and Christine De la Maisonneuve under the supervision of Piritta Sorsa. Statistical research and support was carried out by Guillaume Bousquet, with general administrative support provided by Anthony Bolton, Mikel Inarritu and Brigitte Beyeler.

The survey also benefitted from contributions by Massimo Geloso, Frederic Gonzales, Chrysa Leventi, Manos Matsaganis, Domna Michailidou, Iota Nassr, Hildegunn Nordas, Eduardo Olaberria, Virginia Robano, Dorothee Rouzet, Ania Thiemann and Gert Wehinger.

The previous Survey of Greece was issued in November 2013.

  
Basic statistics of Greece, 2014
(Numbers in parentheses refer to the OECD average)a

LAND, PEOPLE AND ELECTORAL CYCLE

Population (million)

11.4

Population density per km2

86.2

(34.9)

Under 15 (%)

14.2

(18.2)

Life expectancy (years, 2013)

81.4

(80.5)

Over 65 (%)

19.9

(16.0)

Men

78.7

(77.8)

Foreign-born (%, 2012)

6.7

Women

84.0

(83.1)

Latest 5-year average growth (%)

0.3

(0.6)

Latest general election

September 2015

ECONOMY

Gross domestic product (GDP)

Value added shares (%)b

In current prices (billion USD)

237.5

Primary sector

3.8

(2.5)

In current prices (billion EUR)

178.7

Industry including construction

13.3

(26.6)

Latest 5-year average real growth (%)

-4.9

(1.9)

Services

82.8

(73.1)

Per capita (000 USD PPP)b

25.3

(39.2)

GENERAL GOVERNMENT Per cent of GDP

Expenditureb

49.4

(41.9)

Gross financial debtb

184.1

(110.3)

Revenueb

45.9

(37.7)

Net financial debtb

141.3

(68.0)

EXTERNAL ACCOUNTS

Exchange rate (EUR per USD)

0.753

Main exports (% of total merchandise exports)

PPP exchange rate (USA = 1)

0.621

Mineral fuels, lubricants and related materials

38.4

In per cent of GDP

Manufactured goods

13.8

Exports of goods and services

32.9

(49.2)

Food and live animals

13.7

Imports of goods and services

35.2

(46.0)

Main imports (% of total merchandise imports)

Current account balance

-2.1

(-0.1)

Mineral fuels, lubricants and related materials

34.3

Net international investment position (2013)

-125.4

Machinery and transport equipment

17.7

Chemicals and related products, n.e.s.

13.8

LABOUR MARKET, SKILLS AND INNOVATION

Employment rate for 15-64 year-olds (%)

49.4

(65.7)

Unemployment rate, Labour Force Survey (age 15 and over) (%)

26.5

(7.3)

Men

58.0

(73.6)

Youth (age 15-24, %)

52.4

(15.0)

Women

41.1

(57.9)

Long-term unemployed (1 year and over, %)

18.4

(2.7)

Participation rate for 15-64 year-olds (%)

69.7

(71.2)

Tertiary educational attainment 25-64 year-olds (%, 2013)

27.4

(33.3)

Average hours worked per year (2013)

2 037

(1 771)

Gross domestic expenditure on R&D (% of GDP, 2013)

0.8

(2.4)

ENVIRONMENT

Total primary energy supply per capita (toe)

2.0

(4.1)

CO2 emissions from fuel combustion per capita (tonnes, 2012)

6.1

(9.6)

Renewables (%)

10.9

(9.1)

Water abstractions per capita (1 000 m3,2007)

0.8

Fine particulate matter concentration (urban, PM10, μg/m3, 2011)

35.3

(28.0)

Municipal waste per capita (tonnes, 2012)

0.5

(0.5)

SOCIETY

Income inequality (Gini coefficient, 2012c)

0.340

(0.308)

Education outcomes (PISA score, 2012)

Relative poverty rate (%, 2012c)

15.2

(11.1)

Reading

477

(496)

Median equivalised household income (000 USD PPP, 2010)

15.3

(20.4)

Mathematics

453

(494)

Public and private spending (% of GDP)

Science

467

(501)

Health care (2012)

9.3

(9.2)

Share of women in parliament (%, December 2015)

19.7

(26.9)

Pensions (2011)

14.7

(8.7)

Net official development assistance (% of GNI)

0.11

(0.36)

Better life index: www.oecdbetterlifeindex.org.

a. Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 29 member countries

b. 2013 for the OECD aggregate.

c. 2010 for the OECD aggregate.

Source: Calculations based on data extracted from the databases of the following organisations: OECD, International Energy Agency, World Bank, International Monetary Fund and Inter-Parliamentary Union.