Overview of Athens

Economy of Athens

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Greece is considered to be one of the poorest countries in the European Union although its economy has improved in recent years. Reconstruction of the economy and the reduction of unemployment remain major challenges. Greece has an important agricultural economy, producing wheat, corn, barley, sugar beet, olives, tomatoes, tobacco, potatoes, beef, dairy products and wine and almost a quarter of the workforce is employed in this sector. Half of the workforce is employed in the service sector and the remainder is focused on industry, including food, chemical and tobacco processing, textiles, construction, metallurgy, mining and petrol. The most important revenues to Greece come from the tourism industry and shipping however.

The value of Greek exports is less than half the cost of its imports and the rate of inflation is over 2.6%. Unemployment is relatively high at 10%.

Directly to the south of Athens lies the seaport of Piraeus which is of vital importance to the city’s economy. Athens and its region contain factories and mills producing a range of chemicals, metal goods, building materials, and machinery. Publishing, printing, food processing, oil refining and shipbuilding are all important activities. Indeed the area produces most of the nation's industrial output. The tourist industry contributes greatly to the city's economy. In addition Athens is the nation's financial and transport hub.

Update 31/12/2008

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