Greece is considered to be one of the
poorest countries
in the European Union although its economy has improved in recent years. Reconstruction
of the economy and the reduction of unemployment remain major challenges. Greece
has an
important agricultural economy, producing
wheat, corn, barley, sugar beet, olives, tomatoes, tobacco, potatoes, beef,
dairy products and wine and almost a quarter of the workforce is employed in
this sector. Half of the workforce is employed in the service sector and the
remainder is focused on industry, including food, chemical and tobacco processing,
textiles, construction, metallurgy, mining and petrol. The most important revenues
to Greece come from the
tourism industry and shipping
however.
The value of Greek exports is less than half the cost
of its imports and the rate of inflation is over 2.6%. Unemployment is
relatively high at 10%.
Directly to the south of Athens lies the seaport of Piraeus
which is of vital importance to the city’s economy. Athens and its region
contain factories and mills producing a range of chemicals, metal goods, building
materials, and machinery. Publishing, printing, food processing, oil refining
and shipbuilding are all important activities. Indeed the
area produces most of the nation's industrial output. The tourist
industry contributes greatly to the city's economy. In addition Athens
is the nation's financial and transport hub.