The Greek Economy :: essays research papers fc

The classic EconomyAgricultureThe Greek economy depends a lot on land. One quarter of the Greek men is engaged in farming, and agriculture constitutes about 15% of thedomestic production. Not a great deal attention has been bony on the agriculturalsector of the economy. The farms are pretty small, the division of getland has reduced the average size to 3,4 hectares (8 acres) and it is reallydifficult to practise mechanised equipment efficiently. Yields are also low due tothe dryness and eating away of the soil. Lets take a look at the yearly output of virtually major crops tobacco 142000, wheat 2.6 million, tomatoes 1.9 million,oranges 780000, corn 2.1 million, sugar beet 1.9 million, grapes 1.6 million,olives 1.5 million, potatoes 850000 and cotton wool 222000. Livestock overwhelmd some10.8 million sheep, 3.5 million goats, 800000 head of cattle, 31 million poultryand 1.2 million pigs.Forestry and FishingThe Greek government owns the two-thirds of the forestland and has mater ialisedher plans i.e. to deputize the trees that were destroyed during World War II.About 2.9 million cu m of timber were annually cut in the late 80s andapproximately the 75% of the harvest was hardwood. Fish exports are limitedbecause of the widespread consumption of slant products inside Greece. However inrecent years thousands of tons of slant are exported each year, due to the everincreasing development of seek farms in the country. In the late 80s the annualcatch totalled 135000 tons, from which 80% was consumed within Greece. Spongesare the main marine product exported.MiningMining is of critical importance to the Greek economy. We should mention thoughthe annual output of minerals in tons bauxite 2.3 million, iron ore 1.3 millionand magnesite 884400. Also, about 279200 cu m of marble were quarried. Petroleum,salt, chromium, silver, zinc were also produced.ManufacturingApproximately one fifth of the Greek workforce is engaged in manufacturing,which contributes 18% of the annual gross production. The manufacturedproducts include food, beverages, tobacco, textiles, clothing, chemicals,cement and wine. Athens is the manufacturing center of Greece.Currency and BankingThe national currency of Greece is drachma. The primordial banking institution isthe Bank of Greece. The biggest banks of Greece are the National Bank of Greece,with 470 domestic branches and the artless Bank of Greece with 420 branches.Foreign TradeGenerally Greece spends each year much more on imports than it receives fromexports. This "imbalance" is offset to a certain finish by tourist revenues andby remittances from Greeks living abroad. In the 80s the imports totalled 3 gazillion drachmas and exports earned 1.5 trillion drachmas.