Economy of Greece
economy of the country
Greece is a developed country with a mixed economy. The Greek economy is the 50th-largest by nominal gross domestic product (GDP) and 54th-largest by purchasing power parity (PPP). It is the 16th-largest economy in the European Union and eleventh largest in the eurozone. Greece is a welfare state and ranks relatively highly among OECD nations in terms of social spending, which stood at 23.7% of GDP in 2024. It has the highest debt-to-GDP ratio in the EU, standing at 146% in 2025. The economy is based on the service (78%), industrial (18%) and agricultural (4%) sectors.
The Greek economy was devastated by World War II (1939–1945), but expanded rapidly from 1950 to 1980 in what is commonly known as the Greek economic miracle. Greece also enjoyed a sustained period of growth rates above the EU average from the mid-1990s to the mid-2000s, peaking at 6.4% in 2006. The subsequent Great Recession and Greek government-debt crisis, a central focus of the wider euro area crisis, plunged the economy into a sharp downturn in the late 2000s and early 2010s. The tourism boom of recent years has helped drive a strong recovery, with Greece setting new records in arrivals (38 million) and revenue (€23.6 billion) in 2025 as one of the most visited countries in the world.
“Economy of Greece” enters the record as economy of the country. Crown Archives preserves that source wording while asking what Economy, Greece and economy can confirm, complicate or overturn.
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Named sources, stable identifiers and responsible institutions provide the strongest route from overview to verifiable evidence. The source revision retrieved here is dated Sep 21, 2026. The linked authority identifier is Q45074. The Library of Congress control number is sh85057058. 1 of 1 selected statements include explicit references; 0 carry qualifiers and 0 use preferred rank. The first chronological checks are 2024, 2025, 1939 and 1945.
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This entry incorporates text from “Economy of Greece” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.