Greece economic analysis shows productivity gaps and export shifts

Analysis of the Greek economy reveals a disconnect between government growth narratives and structural realities. While GDP has increased and the country maintains a high primary surplus of nearly 5% of GDP, critics argue this surplus comes at the cost of lost growth and investment, placing pressure on small businesses and the social fabric.

Labor productivity remains a significant weakness. Although the Bank of Greece noted a 1.2% increase in labor productivity in 2025, Greece continues to lag behind the EU average. Despite having the longest average work week in the EU at 39.6 hours, the value produced per hour remains low, suggesting a need for technological investment and digitalization rather than increased working hours.

In trade, Greek exports to the United States rose by 15.6% in the first half of 2026, reaching 1.3 billion euros. However, this growth was driven almost entirely by a 98% surge in petroleum products. Excluding hydrocarbons, exports to the US actually declined by 4.2%. Other notable shifts include a massive 843.3% increase in vehicle and parts exports and a 27.5% rise in aluminum products.