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Greece Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
10,761,523 (July 2018 est.)
GDP (PPP)
$299.3 billion (2017 est.)

GDP growth rate
1.4% (2017 est.)

The Country is still recovering from a prolonged recession

GDP (PPP) per capita
$27,800 (2017 est.)

Medium. Drastically reduced in the last years due to the economic crisis (more than 20% GDP pro capita was lost from 2008)

Local currency
Euro (EUR)

The second most importat currency in the world after the USD

Financial stability (Public debt)
181.8% (2017 est.)

Very high, the second highest in the world after Japan. It is stable thanks to strong austerity measures and financial helps from EU, ECB and IMF

Inflation
1.1% (2017 est.)

Still low but recovering from deflation

Language
GreekĀ 

English is spoken as a second language in the main urban or touristic areas

Corruption perception index (Source: Transparency International)
Rank 67/180

High level of corruption

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
24% standard VAT rate
Reduced rates: 13% (listed food, care to children/elderly/disabled, hotels), 6% (listed entertainment services, medicines, books, electricity and gas) VAT reduced on some islands (Chios, Kos, Lesvos, Leros and Samos)
Corporate Tax
28% standard rate (should be reduced to 27% in 2020)
29% corporate tax rate for financial institution Special taxation for shipping companies (very advantageous)
Duties
European Union customs duties/import tariffs apply

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We have a strong position in Europe B2B and Europe trade, especially European Union trade.

If you are interested in doing business in Greece, or in finding Greek manufacturing companies, we can help you. Thousands of companies in Greece and Greek SMEs use Globartis for their operations. Join our network today and find the right partner for your Greece business.

Connect with a Greek manufacturer or Greece importer, or source among Greece export to find the right product. Join now and grow your business in Athens, one of the best cities for doing business in Southern Europe.

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