Gross Domestic Product (GDP) is the total value of all the finished goods and services produced by Greece during a specific period of time which is usually one year. The value of the goods and services produced in Greece is the gross domestic product. The percentage that GDP grew (or shrank) from one year to another is really important for the people of Greece to gauge how their economy is going. Greece gross domestic product n.s.a (YoY) was above forecasts (1.3%) in 2014 3Q: actual (1.7%). Gross domestic product Greece was 209.9 billion USD (2019) and it is around 189.26 billion in 2020.
Greece is officially known as the Hellenic Republic it is located in Southeast Europe with a population of approximately 11 million as of 2018. It has thousands of islands throughout the Aegean and Ionian seas. Its capital is Athens which retains landmarks including the 5th-century B.C.
- Capital: Athens
- Dialing code: +30
- Currency: Euro
- Official language: Greek
Greece GDP Per Capita
|Year||GDP Per Capita (US $)||Annual Growth Rate (%)|
Bureau of Economic Analysis defines GDP as
“Gross domestic product (GDP), the featured measure of U.S. output, is the market value of the goods and services produced by labor and property located in the United States”
Greece is watching Chinese investment to boost GDP and post pandemic recovery
Greek officials announced that they will boost investment from China which will help the economy recover from the recent pandemic of COVID-19. Businesses from China and Greece came together in an online summit on Thursday dated 22-04-2021 in Athens which seems a bigger role in Belt and Road Initiative of China.
China’s BRI will build trade and infrastructure routes side by side Silk Road. It is a signature foreign policy of Beijing. Adonis Georgiadis, minister for investment and development of Greece, said “to re-establish the strong relationship with China” before COVID-19.
“Of course, the pandemic slowed down the process, because it’s still not possible to have mutual travel between Greece and China, but we want to reassure our counterparts that we are here to solve problems,” Georgiadis said.
Such investments will surely uplift the growth rate of the country along with rising in the gross domestic product of Greece.