Greece profile

Demography and Health

Greece has a population of about 10.39 million in 2024, a size that sits within the middle of Europe’s relatively small economies. The country faces a pronounced age shift: birth rate is 6.8 per 1,000 people while the death rate is 12.2 per 1,000, contributing to an aging population profile. Life expectancy at birth is 81.5 years (rank 40), reflecting strong health outcomes, and under-5 mortality is low at 3.7 per 1,000 live births (rank 143). The civilian health system benefits from a dense medical workforce, with 6.37 physicians per 1,000 people (rank 2), underscoring a high level of medical access and capacity. Public health expenditure is meaningful, with current health expenditure at 8.5% of GDP (2022) and per-capita health spending at about 1,784 international dollars PPP (2022). Yet Greece also faces social stressors: poverty stands at 18.8% (2021), and the country records a relatively high suicide mortality rate of 4.68 per 100,000 (2021). Net migration is negative (-122,772 in 2024), signaling outward pressures that compound aging and workforce dynamics. Internet usage is widespread (85% of the population in 2023), supporting digital health, telemedicine, and information access. Taken together, Greece combines strong health outcomes and a capable clinical workforce with aging demographics and migration pressures that influence long-term social and fiscal planning.

Economy

Greece’s economy features a high-income profile for its size, with GDP per capita at 24,752 US dollars (2024) and a GDP per capita at PPP of 44,074 international dollars, indicating higher living standards when adjusted for price differences. Inflation remains relatively modest at 2.74% (2024), while the unemployment rate stands at 11.0% in 2023, reflecting ongoing labor-market adjustments after past crises. The country remains highly open to trade and services, with exports of goods and services equal to 42% of GDP (2024) and imports at 47.3% of GDP (2024). The external position shows a current account deficit of 6.38% of GDP (2024), pointing to persistent reliance on external financing and energy imports, even as tourism and services provide resilience. Foreign direct investment net inflows amount to 2.51% of GDP (2024), signaling moderate investor interest in sectors such as energy, logistics, and technology-enabled services. Investment in research and development is around 1.49% of GDP (2022), with patent activity supporting innovation through 394 resident applications in 2021. High-technology exports total about 2.97 billion USD (2024), placing Greece among countries with meaningful technology-driven export capabilities (ranked 12 in its category). Social indicators show a poverty rate near 18.8% (2021) and a prevalence of undernourishment at 2.5% (2022), illustrating a country with respectable prosperity but still facing distributional and inclusion challenges. Overall, Greece’s economy blends a diversified services sector, robust human capital, and a gradually modernizing industrial base with vulnerabilities tied to external imbalances and governance frictions.

Trade and Investment

Trade represents a central channel of Greece’s economic activity. Exports of goods and services account for about 42% of GDP in 2024, while imports constitute roughly 47.3% of GDP, underscoring a high degree of trade openness and integration with global markets. The country runs a current account deficit of about 6.38% of GDP in 2024, reflecting a reliance on foreign financing and sensitivity to energy and commodity prices. Foreign direct investment net inflows are 2.51% of GDP in 2024, indicating a steady but cautious level of foreign participation in the economy. Greece shows strength in high-technology exports, totaling around 2.97 billion USD in 2024, with a notable share of modernization and knowledge-intensive activities as part of its export mix. The logistics framework—the quality of trade and transport-related infrastructure—scores 3.7 on a 1-to-5 scale (2022) with a rank of 9, suggesting solid but improvable capabilities for cross-border movement. Internet usage at 85% (2023) supports digital trade, e-commerce, and efficient service delivery. Taken together, Greece’s trade profile reflects a world-connected, services- and export-oriented economy, poised to benefit from ongoing investment and digital transformation, albeit constrained by external deficits and the need to bolster competitiveness and investment climates.

Governance and Institutions

Overview of governance indicators reveals a mixed institutional landscape. Political stability and absence of violence/terrorism stand at 0.24 (2023), with a relatively modest rank of 87, indicating room to strengthen resilience against shocks and to consolidate social cohesion. Regulatory quality is higher, at 0.579 (rank 54), suggesting that regulatory frameworks are capable of supporting markets, though their effectiveness can vary by sector and administration. The rule of law sits at 0.213 (rank 83), pointing to gaps in judicial efficiency, contract enforcement, and the rule of law that could affect business confidence. Control of corruption is 0.0978 (rank 77) and government effectiveness 0.148 (rank 80), signaling ongoing challenges in reducing corruption and delivering public services efficiently. Collectively, these governance signals imply a country with a functional but imperfect institutional environment where reforms—especially to strengthen the judiciary, reduce corruption, and improve bureaucratic efficiency—could unlock higher investment, productivity, and social outcomes. The overall governance picture coexists with a strong health system, skilled workforce, and a tradition of cautious economic policy, underscoring the importance of targeted reforms to sustain long-term growth.

Infrastructure and Technology

Greece displays a relatively strong infrastructure profile for its size and regional role. The logistics performance index for quality of trade and transport-related infrastructure stands at 3.7 (2022), with a best-in-class standing on a 1-to-5 scale and a qualitative rank of 9, reflecting competent logistics services, port capacity, and cross-border connectivity. Digital connectivity is high, with 85% of the population using the Internet (2023), enabling e-government, online services, and digital markets. The country also sits on a rising trajectory of science and technology investment, with R&D expenditure at 1.49% of GDP (2022) and residents filing 394 patent applications in 2021 (rank 48), indicating ongoing innovation activity. High-technology exports total about 2.97 billion USD (2024), and the country benefits from a skilled workforce highlighted by 6.37 physicians per 1,000 people (rank 2), suggesting strong human-capital inputs for advanced manufacturing, health tech, and professional services. The combination of a solid logistics backbone, expanding digital infrastructure, and targeted R&D activity positions Greece to deepen its knowledge economy while continuing to modernize physical and social infrastructure.

Environment and Sustainability

Greece’s environmental and resource profile shows meaningful progress alongside notable pressures. Renewable energy consumption accounts for 21.5% of total final energy consumption in 2021, reflecting ongoing diversification toward wind, solar, and hydro sources as part of decarbonization efforts. Water resource stress remains a concern, with freshwater withdrawal at 20.7% of available resources in 2021 (level of water stress 20.7, rank 68), signaling vulnerability to drought and climate variability that could impact agriculture, tourism, and urban supply. Total greenhouse gas emissions excluding LULUCF equate to 6.66 tonnes of CO2-equivalents per capita in 2023 (rank 57), indicating a substantial carbon footprint per resident shaped by energy import dependence, transport, and industry. On the social front, undernourishment remains low (2.5% in 2022), while life expectancy is high at 81.5 years, reflecting effective health and social safety nets. Greece’s environmental trajectory will hinge on scaling renewables, improving energy efficiency, and strengthening water management to balance tourism-driven demand with climate resilience and sustainable growth.