The National Perspective

Shipping is the most international sector and a core pillar of the Greek economy. Its direct and indirect impact on the Greek economy is estimated to be between 6.5% to 8% of Gross Domestic Product (GDP). Greek shipowners also make investments in the Greek economy beyond shipping in various sectors such as technology, services, real estate and tourism. In addition, Greek shipowners have through the years been making significant social welfare donations.

Apart from generating hundreds of thousands of jobs directly and indirectly, sea transport consistently contributes billions of euros annually to the country’s current account balance.  During the last 20 years currency inflows from shipping have surpassed 263 billion euros, mitigating the country’s trade deficit¹². Furthermore, Greek shipping serves as the foundation for a flourishing maritime services sector in Greece, attracting investments, talent and fostering innovation. Being the world’s largest cross-trader (Figure 12), Greek shipping is a strategic asset for the country.

Shipping is integral to the Greek economy, supporting in various ways the country’s growth and enhancing its international presence.

¹²Bank of Greece, Services Balance, quarterly data, 2024