Greece industry sector has faced a lot of revamping with the vigorous shift towards industrialization. Manufacturing sector has, in fact, overtaken the agriculture sector in terms of contribution to the GDP. However the growth is unsettled by the increasing dependency on imports that have been a reason of concern for Greece. The imports in 2009 were $61.47 billion in contrast to the exports of only $18.64 billion. However, this cannot be undone because for the Greece industry to prosper, raw materials, machinery parts and fuel have to be imported.

In-house industries are rudimentary and have negligible production of iron and steel. Greece industries do not manufacture basic transport equipment, such as cars and trucks, due to shortage of skills, raw materials as well as infrastructural help. The only region that features industries is Athens, which is a hot spot due to easier capital availability as well as connectivity.

Greece Industry Sectors, Greece Industries

The trend in Greece industries is to encourage privatization, while controlling basic industries such as electric power and petroleum refining. However, as the trend picks up, the portion of government controlled industries is decreasing and the government is divesting itself from the control in the telecommunications company, Olympic Airways and the OTE.

Greece Industries: Diversification and Contribution

Greece has diversified industries; however, their contribution to the national economy is not quite significant. The various Greece industries are:

• Tourism

• Food and tobacco processing

• Textiles

• Chemicals

• Metal products

• Mining

• Petroleum

In terms of contributing towards the GDP, the following are the figures:

• Agriculture: 3.4%

• Industry: 20.8%

• Services: 75.8%

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Greek industry sector contributes to employment, by absorbing 22.4% of the working population. This is second to the service sector that absorbs 65.1% work force.

The employment share could have risen had it not been for recession; however, as Greek industries experienced a slump and industrial growth rate amounted to around 3.2%, the unemployment rate increased from 7.7% (2008) to 8.9% (2009).

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