Industry
Between 2005 and 2011, Greece has had the highest percentage increase in industrial output compared to 2005 levels out of all 27 European Union members, with an increase of 6%. Eurostat statistics show that the industrial sector was hit by the Greek financial crisis throughout 2009 and 2010, with domestic output decreasing by 5.8% and industrial production in general by 13.4%. Currently, Greece is ranked third in the European Union in the production of marble (over 920,000 tons) after Italy and Spain.
Between 1999 and 2008, the volume of retail trade in Greece increased by an average of 4.4% per annum (a total increase of 44%), while it decreased by 11.3% in 2009. The only sector that did not see negative growth in 2009 was administration and services, with a marginal growth of 2.0%.
In 2009, Greece's labor productivity was 98% that of the EU average, but its productivity-per-hour-worked was 74% that the Eurozone average. The largest industrial employer in the country (in 2007) was the manufacturing industry (407,000 people), followed by the construction industry (305,000) and mining (14,000).
| Rank | Production | Rank | Production | ||
|---|---|---|---|---|---|
| Industry | Value | Industry | Value | ||
| 1 | Portland cement | €897,378,450 | 6 | Cigarettes | €480,399,323 |
| 2 | Pharmaceuticals | €621,788,464 | 7 | Beer | €432,559,943 |
| 3 | Ready-mix concrete | €523,821,763 | 8 | Dairy | €418,527,007 |
| 4 | Beverages (non-alcoholic) | €519,888,468 | 9 | Aluminium slabs | €391,393,930 |
| 5 | Rebars | €499,789,102 | 10 | Coca-Cola products | €388,752,443 |
| – | Total production value: €20,310,940,279 | ||||
Read more about this topic: Economy Of Greece
Famous quotes containing the word industry:
“It is while we are young that the habit of industry is formed. If not then, it never is afterwards. The fortune of our lives therefore depends on employing well the short period of our youth.”
—Thomas Jefferson (1743–1826)
“The development of civilization and industry in general has always shown itself so active in the destruction of forests that everything that has been done for their conservation and production is completely insignificant in comparison.”
—Karl Marx (1818–1883)
“You must, to get through life well, practice industry with economy, never create a debt for anything that is not absolutely necessary, and if you make a promise to pay money at a day certain, be sure to comply with it. If you do not, you lay yourself liable to have your feelings injured and your reputation destroyed with the just imputation of violating your word.”
—Andrew Jackson (1767–1845)