Economy

Traditionally an agriculture-based economy, Greece has had limited success in diversifying its economic base. However, industry has replaced agriculture as the leading source of income; agriculture accounts for slightly over 15% of the gross national product, while manufacturing accounts for some 20%. Tourism, a part of the growing service sector, provides a vital source of revenue. The chief agricultural products are corn, wheat, barley, citrus fruits, olives and olive oil, tomatoes, sugar beets, grapes, currants, cotton, tobacco, and potatoes. Large numbers of sheep and goats are raised.

The country's main industrial centers are Athens, Thessaloníki, Piraiévs, Pátrai, and Iráklion. The principal manufactures are processed food and tobacco, textiles, chemicals, metal products, construction materials, and refined petroleum. The chief minerals produced are lignite, bauxite, high-grade iron ore, magnetite, zinc, and iron pyrites. Electricity is generated mainly by hydroelectric and thermal power stations. Greece has a large merchant fleet, and its chief ports are Piraiévs and Thessaloníki. There is a significant fishing industry in coastal areas.

The main exports are food, clothing, textiles, petroleum products, and tobacco; the leading imports are machinery and transportation equipment, petroleum products, chemicals, meats, and manufactured consumer goods. The principal trade partners are Germany, Italy, France, and Great Britain. In 1981, Greece became a member of the European Community (now the European Union).

The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2007, Columbia University Press. All rights reserved.

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