Greece production remains 10% below 2009 levels, KEFIM study finds

A study by the Center for Liberal Studies (KEFIM) titled ‘The Greek Productive Model 2000-2025’ reveals that Greece’s real production in 2025 remains 10% lower than in 2009 and 13% lower than the 2008 peak. The findings indicate that while the economy has completed a cycle of collapse and incomplete recovery, current production levels are comparable to those seen in 2003-2004.

The research highlights a significant structural shift: the economy has moved away from the domestic-oriented model of the 2000s toward internationally tradable sectors. While sectors like manufacturing have seen a real volume increase of 7% since 2009, and information technology has grown by 5%, much of the perceived growth in other areas, such as agriculture and financial services, is attributed to price increases rather than actual volume increases.

Major shifts in GDP share include a decrease in the public sector (-3.6 points), construction (-2.7 points), and the combined trade, transport, and tourism sector (-1.2 points). Conversely, manufacturing (+1.8 points) and financial activities (+1.0 point) have gained prominence. The study notes that although the economic structure has changed, the overall size of the economic pie remains smaller than pre-crisis levels.