Solid recovery sees challenges from monetary policy tightening
B2
MEDIUM RISK for entreprise
-
Economic risk
-
Business environment risk
-
Political risk
-
Commercial risk
-
Financing risk
-
Economic risk
-
Business environment risk
-
Political risk
-
Commercial risk
-
Financing risk
Last updated in September 2023.
Swipe to view more
GDP | USD219.1bn (World ranking 55, World Bank 2022) |
Population | 10.6mn (World ranking 86, World Bank 2022) |
Form of state | Parliamentory Republic |
Head of government | Kyriakos Mitsotakis (Prime Minister) |
Next elections |
2023, Legislative |

- Major economic hub of Southeast Europe
- Strong tourism sector
- Labour market reforms boost competitiveness
- Regained fiscal discipline
- Sizeable cash buffer to cover public financing needs beyond 2020

- Rigid business environment
- Fragile banking sector
- High corporate tax rates
- Low R&D expenditure
- High public debt burden
Trade structure by destination/origin
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Italy
9.8%
![]() |
1 |
![]() |
Germany
7.2%
![]() |
2 |
![]() |
Cyprus
5.9%
![]() |
3 |
![]() |
Türkiye
5.2%
![]() |
4 |
![]() |
Bulgaria
4.7%
![]() |
5 |
![]() |
Trade structure by product
(% of total, 2021)
Exports | Rank | Imports |
---|---|---|
Petroleum, petroleum products and related materials
26.7%
|
1 |
21.7%
Petroleum, petroleum products and related materials
|
Medicinal and pharmaceutical products
7.2%
|
2 |
5.8%
Medicinal and pharmaceutical products
|
Non-ferrous metals
7.0%
|
3 |
4.1%
Road vehicles
|
Vegetables and fruits
6.3%
|
4 |
4.1%
Gas, natural and manufactured
|
Electrical machinery, apparatus and appliances, n.e.s.
3.1%
|
5 |
4.0%
Electrical machinery, apparatus and appliances, n.e.s.
|
Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
Contacts
Read our latest reports
-
Americas
-
Europe
-
Asia Pacific
-
Middle East
-
Africa