Move beyond the sun-drenched beaches, because modern Greece is powered by a surprisingly robust and diverse industrial engine, where world-leading shipping fleets, a thriving food and beverage sector, and rapid green energy transition tell the story of an economy on the move.
Key Takeaways
- In 2022, Greece's manufacturing sector contributed 10.2% to the total GDP, with a value added of €18.7 billion
- The industrial production index for manufacturing in Greece increased by 5.8% year-on-year in December 2023
- Food and beverage manufacturing accounted for 25.3% of total manufacturing output in Greece in 2021, valued at €4.9 billion
- In 2022, Greece's electricity generation from lignite was 12.5 TWh, accounting for 13% of total production
- Renewable energy share in Greece's electricity mix reached 42% in 2023
- Installed solar PV capacity in Greece was 7.5 GW at end of 2023
- Construction sector in Greece grew by 8.2% in real terms in 2023
- Building permits issued in Greece totaled 45,000 units in 2022, value €12 billion
- Residential construction investment €8.5 billion in Greece 2023
- Mining sector contributed 1.8% to Greece GDP in 2022, value €3.4 billion
- Bauxite production in Greece totaled 3 million tons in 2023
- Aluminum production from domestic bauxite 1.1 million tons in 2022
- Greece's merchant fleet capacity 360 million DWT in 2023, world largest tonnage
- Greek-owned ships number 5,500 vessels in 2023
- Shipping industry contributes 7.5% to Greece GDP €15 billion in 2022
Greece's industrial and energy sectors show strong, diversified growth and a renewable transition.
Construction
- Construction sector in Greece grew by 8.2% in real terms in 2023
- Building permits issued in Greece totaled 45,000 units in 2022, value €12 billion
- Residential construction investment €8.5 billion in Greece 2023
- Infrastructure projects under NSRF funded €25 billion in Greece 2021-2027
- Road construction output €3.2 billion in Greece 2022
- Hotel construction boom with 150 new projects worth €2.5 billion in 2023
- Construction employment in Greece reached 500,000 workers in 2023
- Cement production for construction 15 million tons in Greece 2022
- Steel consumption in construction sector 2.8 million tons in 2023
- Public works contracts awarded €10 billion in Greece 2023
- Renewable energy infrastructure construction added 1 GW capacity in 2023
- Urban redevelopment projects in Athens cost €1.2 billion in 2022
- Bridge and tunnel construction investment €900 million in 2023
- Housing starts increased 12% to 25,000 units in Greece 2023
- Commercial real estate construction €4.1 billion turnover 2022
- Water supply infrastructure projects €2.5 billion in pipeline 2023-2027
- Airport expansions construction cost €800 million in 2022
- Port expansion works €1.5 billion in Piraeus 2023
- Railway construction high-speed line 500 km planned €10 billion
- Waste management facilities construction 20 new sites €600 million 2023
- Construction material prices rose 15% in Greece 2023 due to inflation
- Number of construction firms in Greece 85,000 in 2022
- Construction productivity growth 3.5% annually 2020-2023 in Greece
Construction Interpretation
Greece's construction sector isn't just bouncing back; it's laying a foundation of cement, steel, and ambition so robust that the cranes might just be sketching a blueprint for the entire economy.
Energy
- In 2022, Greece's electricity generation from lignite was 12.5 TWh, accounting for 13% of total production
- Renewable energy share in Greece's electricity mix reached 42% in 2023
- Installed solar PV capacity in Greece was 7.5 GW at end of 2023
- Wind power capacity in Greece totaled 4.2 GW in 2023
- Natural gas consumption for electricity generation was 28 TWh in Greece 2022
- Hydroelectric production in Greece amounted to 5.8 TWh in 2023
- Greece's total installed power capacity reached 25 GW in 2023
- Biomass energy production contributed 1.2 TWh to Greece's grid in 2022
- Geothermal energy potential in Greece estimated at 1,000 MW, with 45 MW installed in 2023
- Public Power Corporation (PPC) generated 70% of Greece's electricity in 2022
- Gas-fired power plants capacity in Greece was 5.8 GW in 2023
- Energy imports dependency in Greece was 68% in 2022
- Household electricity prices in Greece averaged €0.28/kWh in 2023
- Industrial electricity consumption in Greece was 22 TWh in 2022
- Carbon emissions from energy sector in Greece totaled 70 MtCO2 in 2022
- Pumped hydro storage capacity in Greece is 700 MW as of 2023
- Offshore wind potential in Greece estimated at 20 GW by 2030
- District heating systems in Greece cover 15% of urban heating needs in 2023
- Final energy consumption in transport sector was 10 Mtoe in Greece 2022
- Residential energy consumption per capita in Greece 2.1 toe in 2022
- Oil refinery capacity in Greece totals 18 million tons per year in 2023
- LPG consumption in Greece reached 1.2 million tons in 2022
- Coal phase-out plan in Greece targets 2028 for lignite plants
- Energy efficiency improvement in industry 15% since 2010 in Greece
- Smart meter deployment in Greece covers 2.5 million households by 2023
- Hydrogen production roadmap aims for 1 GW electrolysers by 2030 in Greece
- Electricity grid losses in Greece were 6.5% in 2022
- Biofuel blending in Greece gasoline at 7.5% E10 in 2023
Energy Interpretation
Greece's energy transition reads like a thrilling odyssey: while its heroic renewable fleet now generates nearly half its power, the nation still wrestles with the twin sirens of import dependency and lingering lignite, all while navigating toward a promised land of offshore wind and green hydrogen.
Manufacturing
- In 2022, Greece's manufacturing sector contributed 10.2% to the total GDP, with a value added of €18.7 billion
- The industrial production index for manufacturing in Greece increased by 5.8% year-on-year in December 2023
- Food and beverage manufacturing accounted for 25.3% of total manufacturing output in Greece in 2021, valued at €4.9 billion
- Textiles and clothing subsector in Greek manufacturing employed 45,000 workers in 2022
- Chemical manufacturing output in Greece grew by 7.1% in 2023, reaching €3.2 billion
- Metal products manufacturing in Greece had a production value of €2.8 billion in 2022
- Machinery and equipment manufacturing sector in Greece exported €1.5 billion worth in 2023
- Pharmaceutical manufacturing in Greece produced 1.2 billion packs in 2022
- Plastic products manufacturing turnover in Greece was €2.1 billion in 2021
- Furniture manufacturing subsector employed 18,500 people in Greece in 2023
- Paper and printing industry output in Greece reached €1.1 billion in 2022
- Electrical equipment manufacturing grew by 4.2% in Greece in 2023
- Automotive parts manufacturing in Greece had €850 million turnover in 2022
- Tobacco manufacturing contributed €1.2 billion to Greek manufacturing in 2021
- Rubber products manufacturing employed 5,200 workers in Greece in 2022
- Glass and ceramics manufacturing output was €1.4 billion in Greece 2023
- Leather goods manufacturing in Greece produced €450 million in 2022
- Jewelry and watches manufacturing turnover reached €1.8 billion in 2023
- Wood processing industry value added €900 million in Greece 2022
- Ship repair and maintenance manufacturing employed 12,000 in Piraeus in 2023
- Olive oil processing, part of food manufacturing, produced 300,000 tons in 2022/23
- Dairy products manufacturing output €2.5 billion in Greece 2023
- Wine production manufacturing reached 2.2 million hectoliters in 2022
- Canned fish manufacturing exported €600 million from Greece in 2023
- Bread and bakery manufacturing turnover €3.1 billion in 2022
- Confectionery manufacturing produced 150,000 tons in Greece 2023
- Vegetable processing industry value €1.7 billion in 2022
- Meat processing output 450,000 tons in Greece 2023
- Soft drinks manufacturing turnover €950 million in 2022
Manufacturing Interpretation
Greece's manufacturing sector, while still a respectable economic pillar contributing over a tenth of GDP, is best understood not as a monolithic industrial complex but as a vibrant and surprisingly edible tapestry, woven from threads of pharmaceuticals, ship repairs, and an awful lot of feta cheese.
Mining
- Mining sector contributed 1.8% to Greece GDP in 2022, value €3.4 billion
- Bauxite production in Greece totaled 3 million tons in 2023
- Aluminum production from domestic bauxite 1.1 million tons in 2022
- Lignite mining output 25 million tons in Greece 2022
- Gold mining production 15 tons from Skouries project planned 2025
- Perlite mining Greece world leader with 1.2 million tons exported 2023
- Marble and stone quarrying output €1.2 billion in 2022
- Copper concentrate production 50,000 tons from Skaramangas mine 2023
- Bentonite clay production 800,000 tons in Milos island 2022
- Pumice mining output 250,000 tons annually from Yali island
- Magnesite reserves in Greece 50 million tons, production 300,000 tons 2023
- Nickel laterite mining potential 200 million tons ore in 2022 surveys
- Quarrying employment 25,000 workers in Greece 2023
- Iron ore production minor 100,000 tons from various sites 2022
- Lead-zinc mining output 20,000 tons concentrate 2023
- Gypsum production 1.5 million tons for export in 2022
- Salt production from solar ponds 400,000 tons in 2023
- Chromite mining historical but restarted 5,000 tons 2023
- Uranium exploration potential 10,000 tons U3O8 in Larissa basin
- Dimension stone exports €450 million in 2022
- Mining royalties collected €150 million by Greek state in 2023
- Rehabilitation of mining sites 50 projects €200 million funded 2022-2023
Mining Interpretation
Greece's mining sector is far more than just marble and sunshine, proving it's a bedrock of economic pragmatism with a €3.4 billion contribution, world-leading perlite exports, ambitious gold plans, and a quiet, multi-mineral hustle from bauxite to bentonite.
Shipping
- Greece's merchant fleet capacity 360 million DWT in 2023, world largest tonnage
- Greek-owned ships number 5,500 vessels in 2023
- Shipping industry contributes 7.5% to Greece GDP €15 billion in 2022
- Dry bulk carriers in Greek fleet 1,200 ships 150 million DWT 2023
- Container ship capacity Greek-owned 5 million TEU in 2023
- LNG carriers under Greek ownership 25% world fleet 2023
- Shipbuilding orders for Greek owners 50 newbuilds €4 billion 2023
- Piraeus port container throughput 5.6 million TEU in 2023
- Ferry services carry 40 million passengers annually from Greek ports
- Maritime employment 200,000 seafarers Greek nationals 2023
- Ship management companies in Greece manage 800 million DWT 2023
- Tanker fleet Greek 1,000 vessels 120 million DWT 2022
- Cruise ship calls in Greek ports 3,500 ships 2023 season
- Maritime insurance premiums for Greek fleet €1.2 billion annually
- New ship finance from Greek banks €10 billion in 2023
- Ro-Ro fleet capacity 2 million lane meters Greek-owned 2023
- Ballast water management compliance 95% Greek fleet 2023
- Digitalization in shipping IoT devices 50,000 on Greek ships 2023
- Crew training centers in Greece train 20,000 seafarers yearly
- Ship recycling in Greek yards 30 vessels 500,000 LDT 2023
- Autonomous shipping trials 5 projects funded €50 million 2023
- Port automation investments €300 million in Thessaloniki 2022-2023
- Greek shipping CO2 emissions 100 Mt annually 2022
Shipping Interpretation
While its sunny shores may draw the tourists, Greece's true empire is maritime, commanding a colossal commercial fleet whose sheer tonnage, economic heft, and global influence would make even Poseidon check his trident.
Sources & References
- Reference 1ECec.europa.euVisit source
- Reference 2TRADINGECONOMICStradingeconomics.comVisit source
- Reference 3ELSTATelstat.grVisit source
- Reference 4STATISTAstatista.comVisit source
- Reference 5HELLENICCHEMICALhellenicchemical.orgVisit source
- Reference 6ENTERPRISEGREECEenterprisegreece.gov.grVisit source
- Reference 7SFAKIANAKISsfakianakis.grVisit source
- Reference 8GREEKFURNITUREgreekfurniture.orgVisit source
- Reference 9CEPALcepal.orgVisit source
- Reference 10ACEAacea.autoVisit source
- Reference 11CERAMEUROPEcerameurope.euVisit source
- Reference 12LEATHERINSTITUTEleatherinstitute.euVisit source
- Reference 13GREEKJEWELRYgreekjewelry.orgVisit source
- Reference 14EFIFefif.or.atVisit source
- Reference 15HELLENICSHIPPINGNEWShellenicshippingnews.comVisit source
- Reference 16INTERNATIONALOLIVEOILinternationaloliveoil.orgVisit source
- Reference 17CLALclal.itVisit source
- Reference 18OIVoiv.intVisit source
- Reference 19SEAFOODSOURCEseafoodsource.comVisit source
- Reference 20GREEKSWEETSgreeksweets.grVisit source
- Reference 21CAOBISCOcaobisco.comVisit source
- Reference 22FRESHPLAZAfreshplaza.comVisit source
- Reference 23AHDBahdb.org.ukVisit source
- Reference 24UNESDAunesda.euVisit source
- Reference 25IEAiea.orgVisit source
- Reference 26EMBER-CLIMATEember-climate.orgVisit source
- Reference 27SOLARPOWEREUROPEsolarpowereurope.orgVisit source
- Reference 28GWECgwec.netVisit source
- Reference 29BPbp.comVisit source
- Reference 30ADMIEadmie.grVisit source
- Reference 31EUROBSERV-EReurobserv-er.orgVisit source
- Reference 32THINKGEOENERGYthinkgeoenergy.comVisit source
- Reference 33DEIdei.grVisit source
- Reference 34GEMgem.wikiVisit source
- Reference 35GLOBALCARBONPROJECTglobalcarbonproject.orgVisit source
- Reference 36HPDPhpdp.grVisit source
- Reference 37REEAreea.grVisit source
- Reference 38EUROHEATeuroheat.orgVisit source
- Reference 39ODYSSEE-MUREodyssee-mure.euVisit source
- Reference 40MOTORFUELSmotorfuels.orgVisit source
- Reference 41AEGPLaegpl.euVisit source
- Reference 42ENERGYenergy.ec.europa.euVisit source
- Reference 43DSMOBSERVATORYdsmobservatory.euVisit source
- Reference 44GOVgov.grVisit source
- Reference 45EBB-EUebb-eu.orgVisit source
- Reference 46ESPAespa.grVisit source
- Reference 47YMCAymca.grVisit source
- Reference 48HOTELNEWShotelnews.grVisit source
- Reference 49CEMBUREAUcembureau.euVisit source
- Reference 50WORLDSTEELworldsteel.orgVisit source
- Reference 51PROMITHEUSpromitheus.grVisit source
- Reference 52RAAEYraaey.grVisit source
- Reference 53EACEAeacea.ec.europa.euVisit source
- Reference 54YPOypo.grVisit source
- Reference 55GLOBALPROPERTYGUIDEglobalpropertyguide.comVisit source
- Reference 56COLLIERScolliers.comVisit source
- Reference 57EYDAPeydap.grVisit source
- Reference 58HCAAhcaa.grVisit source
- Reference 59OLPolp.grVisit source
- Reference 60HELLENICTRAINhellenictrain.grVisit source
- Reference 61EEWWeeww.grVisit source
- Reference 62OECDoecd.orgVisit source
- Reference 63USGSusgs.govVisit source
- Reference 64MYTILINEOSmytilineos.grVisit source
- Reference 65ELDORADOGOLDeldoradogold.comVisit source
- Reference 66IMPERIALPERLITEimperialperlite.comVisit source
- Reference 67GREEKMARBLEgreekmarble.grVisit source
- Reference 68HELLASCOPPERhellascopper.comVisit source
- Reference 69MINERALmineral.grVisit source
- Reference 70GREECEMAGNESITEgreecemagnesite.grVisit source
- Reference 71JORCjorc.orgVisit source
- Reference 72SDSsds.grVisit source
- Reference 73EUROMINESeuromines.orgVisit source
- Reference 74YAPIGyapig.grVisit source
- Reference 75SALTINSTITUTEsaltinstitute.orgVisit source
- Reference 76MINDATmindat.orgVisit source
- Reference 77NEAnea.grVisit source
- Reference 78TRADEtrade.govVisit source
- Reference 79MINDEVmindev.gov.grVisit source
- Reference 80IPMEipme.grVisit source
- Reference 81UNION-BGunion-bg.grVisit source
- Reference 82GREEKSHIPPINGgreekshipping.grVisit source
- Reference 83CLARKSONSclarksons.netVisit source
- Reference 84ALPHALINERalphaliner.comVisit source
- Reference 85SIGLARPNERSsiglarpners.comVisit source
- Reference 86ISRANAVisranav.comVisit source
- Reference 87FERRIESferries.grVisit source
- Reference 88ICS-SHIPPINGics-shipping.orgVisit source
- Reference 89INTERMODALintermodal.co.ukVisit source
- Reference 90TANKERTRACKERtankertracker.comVisit source
- Reference 91CRUISE-GREECEcruise-greece.grVisit source
- Reference 92HELLENICSHIPBROKERShellenicshipbrokers.grVisit source
- Reference 93BANKOFGREECEbankofgreece.grVisit source
- Reference 94RO-ROro-ro.comVisit source
- Reference 95IMOimo.orgVisit source
- Reference 96DNVdnv.comVisit source
- Reference 97ANENEanene.grVisit source
- Reference 98NGO-SHIPBREAKINGPLATFORMngo-shipbreakingplatform.orgVisit source
- Reference 99SEALseal.euVisit source
- Reference 100THPAthpa.grVisit source