in figures

Population
January 1, 2012: 11,290,067
Source: Eurostat (updated 3 May 2012)

Gross Domestic Product
2009: €231,081 million
2010: €222,151 million
2011: €208,532 million
2012: €193,749 million
Source: Hellenic Statistical Authority (updated 3 May 2012)


Composition of 2012 Gross Domestic Product
Consumption: €142,756 million
Government Spending: €34,398 million
Gross Capital Formation: €26,339 million
External Balance of Goods and Services: €-9,744 million Source: Hellenic Statistical Authority (updated 3 May 2012)


Real GDP Growth
2009: -3.1%
2010: -4.9%
2011: -7.1%
2012: -6.4%
Source: Hellenic Statistical Authority (updated 3 May 2012)



Annual Average Inflation / Harmonized Index of Consumer Prices
2009: 1.3%
2010: 4.7%
2011: 3.1%
2012: 1.0%
Source: Hellenic Statistical Authority (updated 3 May 2012)


Annual Average Unemployment
2009: 9.5%
2010: 12.5%
2011: 17.7%
2012: 24.2%
Source: Hellenic Statistical Authority (updated 3 May 2012)


Year-end General Government Debt
December 31, 2009: €299,685 million (129.7% of GDP)
December 31, 2010: €329,515 million (148.3% of GDP)
December 31, 2011: €355,172 million (170.3% of GDP)
December 31, 2012: €303,918 million (156.9% of GDP)
Source: Hellenic Statistical Authority (updated 3 May 2012)

General Government Deficit
2009: €36,069 million
2010: €24,057 million
2011: €19,963 million
2012: €19,422 million
Source: Hellenic Statistical Authority (updated 3 May 2012)

2011 Government Finances
Revenues: €86,662 million
Expenditures:  €106,084 million
Deficit: €19,422 million
Primary Deficit: €9,699 million
Source: Hellenic Statistical Authority (updated 3 May 2012)

1 comment:

  1. Looks like Greece is going either straight to hell, or rather quickly to the inevitable exit from the Euro (which might be the same thing...).

    Increasing inflation that takes place simultaneously with increasing unemployment is paradoxical. If labour market rigitities are preventing wages to adjust (thus decreasing inflation), then Greece can only return to wage equilibrium through an exit from the Euro, followed by a subsequent de-valuation of the new drachma and greek hyperinflation (as the government prints more and more money to cover its deficit - its the Weimar Republic all over again!).

    Sooner or later this must come - the only reason ECB might be supporting Greece is to allow for European banks to adapt crisis measures, so that when the exit finally happens, the European banking system will not collapse.

    Another interest statistic for you to track could be the current account balance. Assuming Greece stays within the Euro for now, one should expect the reduction in domestic wage levels to reduce imports to the point where the current account deficit turns into a surplus. This could then signal the turning point for the Greek economy - as the country would then have positive "cash flow from operations", which can be used for investment or debt repayments.

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