The Greek Economy :: essays research papers fc

The classic Economy farmingThe Greek economy depends a lot on agriculture. One imbibe of the Greekworkforce is engaged in farming, and agriculture constitutes about 15% of thedomestic production. Not much attention has been drawn on the agriculturalsector of the economy. The farms ar pretty small, the division of inheritingland has cut the average size to 3,4 hectares (8 acres) and it is reallydifficult to use mechanised equipment efficiently. Yields are in like manner low due tothe dryness and erosion of the soil. Lets take a look at the yearly output ofsome major crops baccy 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 222000. Livestock include some10.8 million sheep, 3.5 million goats, 800000 head of cattle, 31 million poultryand 1.2 million pigs.Forestry and searchingThe Greek government owns the two-thirds of the forestland and has materialisedh er plans i.e. to replace the trees that were destroyed during field War II.About 2.9 million cu m of timber were yearly cut in the late 80s andapproximately the 75% of the harvest was hardwood. Fish exports are limitedbecause of the widespread consumption of fish products within Greece. further inrecent years thousands of tons of fish are exported each year, due to the everincreasing development of fish farms in the country. In the late 80s the annualcatch totalled 135000 tons, from which 80% was consumed within Greece. Spongesare the briny marine product exported.MiningMining is of little importance to the Greek economy. We should mention thoughthe annual output of minerals in tons bauxite 2.3 million, contract 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 gro ss production. The manufacturedproducts include food, beverages, tobacco, textiles, clothing, chemicals,cement and wine. capital of Greece is the manufacturing center of Greece.Currency and margeingThe national currency of Greece is drachma. The central banking institution isthe Bank of Greece. The biggest banks of Greece are the National Bank of Greece,with 470 domestic branches and the Agricultural Bank of Greece with 420 branches. unconnected TradeGenerally Greece spends each year much more on imports than it receives fromexports. This "imbalance" is offset to a certain extent by phaeton revenues andby remittances from Greeks living abroad. In the 80s the imports totalled 3 one thousand million drachmas and exports earned 1.5 trillion drachmas.