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
10.6% Germany
Germany 7.2%
2
8.0% Italy
Cyprus 5.9%
3
7.8% China
Türkiye 5.2%
4
6.7% Russian Federation
Bulgaria 4.7%
5
6.4% Iraq

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.
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.
Popular Risk Reports: Americas

Popular Risk Reports: Europe

Popular Risk Reports: Asia Pacific

Popular Risk Reports: Middle East

Popular Risk Reports: Africa