Greece joined the Euro Area on 1 January 2001.
According to Eurostat, nominal GDP of Greece in 2021 was 182.8 bln EUR.
Greece outperforms the European Union in terms of real GDP growth with the average annual differential coming to 0.2% over the past 10 years (2011 - 2021). In 2021 real GDP growth was 8.3% which was above the Euro Area average (5.3%) and above the European Union average (5.4%). Real GDP growth in 2022 - 2027 are IMF's estimates.
Chart 1. Real GDP Growth in Greece. Source: Eurostat, International Monetary Fund.
In 2021, nominal GDP per capita in Greece was 17,140 EUR.
Greece has a below-average level of wealth in terms of per-capita GDP at purchasing power parity (PPP); this economic welfare indicator has, on average, fell behind that of the European Union by -35.6% over the past 10 years (2011 - 2021). GDP per capita at PPP in 2022 - 2027 are IMF's estimates.
Chart 2. GDP Per Capita at Purchasing Power Parity in Greece; European Union = 100.
According to Eurostat, inflation rate in Greece in 2021 expressed as annual percentages of average consumer prices was 0.6% which was below the Euro Area average (2.6%) and below the European Union average (2.9%). Inflation rates in 2022 - 2027 are IMF's estimates.
Chart 3. Inflation Rate in Greece. Source: Eurostat, International Monetary Fund.
According to Eurostat, unemployment rate in Greece in 2020 was 17.6% which was above the Euro Area average (8.0%) and above the European Union average (7.2%). Unemployment rates in 2021 - 2027 are IMF's estimates.
Chart 4. Unemployment Rate in Greece. Source: Eurostat, International Monetary Fund.
According to Eurostat, government bond yield in Greece in February 2022 was 2.46000%, compared to 1.62000% in January 2022.
Chart 5. Government bond yield of Greece. Source: Eurostat.
Greece has sovereign credit ratings assigned by American credit rating agencies Fitch and Moody's: the rating set by Fitch is BB+ (speculative), outlook stable; the rating set by Moody's is Ba1 (non-investment grade speculative), outlook stable. Scope Ratings, the European rating agency, rated Greece as BBB (lower medium grade), outlook stable.
Fitch and Moody's rating data are provided for September 2023, Scope Ratings for January 2025.
