Industry of Greece and its characteristics

2024 Author: Henry Conors | [email protected]. Last modified: 2024-02-12 02:42

According to historians, the concept of private property, as well as the origins of modern capitalism, lie in ancient Greece. Throughout the history of the country's existence, its economy has passed a number of tests, which include the Ottoman yoke, fascist occupation and dependence on other states. Be that as it may, the main problem that the local Ministry of Industry has always faced is the limited supply of natural resources.

Modern history

In the sixties of the twentieth century, Greece finally transformed into an industrial-agrarian state. Since that time, the share of industry in the country's economy has amounted to 34%, while half of the local GDP, as before, was formed at the expense of the service sector. Be that as it may, during this period the country's industrial development accelerated significantly. The Ministry of Industry called the main reasons for such a significant jump, first of all, the attraction of significant foreign investment. At the same time, it should be noted that thegovernment incentive measures, which led to the emergence of large manufacturing companies and the expansion of the geography of foreign trade relations. In addition, there was a centralization and concentration of production in the country. As of today, more than half of Greek industry is controlled by local and foreign monopolies.

Entering the European Union

Industry in Greece before the EU, as now, focused mainly on the domestic market. At the same time, she was not able to fully satisfy even his relatively modest requests. The country became a member of the European Union in 2001. This event had a double meaning for the entire local economy. At first, it acted as a strong impetus for the growth of industrial production, which eventually turned into a sharp and protracted decline. Experts suggest that the main reasons for this are ineffective state legislative policy and corruption. As a result, the country has quickly become the most unattractive in the EU in terms of investment.

General characteristics of the Greek industry

Greek industry can be briefly described as very disproportionate. This applies both to the distribution over the territory of the country and its sectoral structure. This is the situation in many other small European capitalist states. Some areas important for any economy are absent here at all (for example, machine tool building and the aviation industry). The country is dominated by industries thatbelong to light industry. In particular, the food, textile, clothing, footwear and tobacco industries are considered the most developed in Greece. Over the past decade, petrochemistry, metallurgy, cement production, electrical engineering, as well as the mining sector have gained great export importance.

The fastest industrial production in Greece is in the metropolitan area known as Piraeus. More than 65% of the state's production capacities are concentrated here. The only city that can somehow compete with Athens in industrial development is Thessaloniki. Other relatively large centers are Volos, Patras and Heraklion.

Light industry

As noted above, the light industry of Greece today plays a key role in the manufacturing sector of the state. This is especially true for the textile industry, as it is the most important export industry. More than 80% of its exports go to the UK, Germany and France.

The food industry is also quite developed. Sugar production should be singled out here, because it fully meets the country's domestic needs. The largest factories for the production of this product are located in Xanthi, Larissa, Sera and Plati.

Mining

Mining is important for the local economyGreek industry. The most important and widespread rocks here are bauxites, brown coal, as well as iron and nickel ores. There are quite a lot of different deposits on the territory of the state, but the vast majority of them cannot boast of rich reserves. A lot of bauxite is mined in Greece. Their deposits are located mainly in the central part of the country, as well as near the mountains of Parnassus and Gjon. By their number in the bowels of the earth, the state is considered one of the European leaders.

Besides, from ancient times, Greece was famous for the extraction of copper, lead, silver, and some other types of metals. One of the oldest mines on the planet is located on the Attica Peninsula, not far from the city of Lavrion. About 18 thousand tons of lead are mined here annually, as well as an average of 15.5 tons of silver. Quite good stocks of asbestos and chrome-plated iron ore were discovered relatively recently in the northern regions of the country. In the eastern part of the Peloponnese and in Thrace, complex sulfide ores are mined, which contain some metals. Since ancient times, the state has been famous throughout the continent for its marble of various colors. Quarries that specialize in its extraction are still functioning. Most of them are located on the territory of Attica and several other islands. Be that as it may, one cannot but note the nuance that this material does not play such a big role for the country's economy today as it used to.

Metallurgy

On the territory of the statethere are no more than a dozen companies that work in the field of ferrous metallurgy. Such industrial enterprises of Greece operate in three regions - Greater Athens, Volos and Thessaloniki. The local metallurgical industry is dominated by ferronickel and aluminum smelting. Not far from the port of Itea, in the area of the Parnassian bauxite deposit, there is a factory for the production of alumina and aluminum. Its average annual capacity exceeds 140 thousand tons of metal. Ferronickel plant operates in the central part of the country.

Engineering

Like most other industries, engineering in the state is concentrated mainly in Greater Athens. It produces spare parts for various machinery, as well as equipment for winemaking and agriculture. Be that as it may, the sphere does not fully meet the internal needs for these products. The Greek shipbuilding industry is represented by a large shipbuilding complex located in the same area. On its territory, not only construction is carried out, but also the repair of ships of various classes and sizes, for which small shipyards are provided.

Energy

The country cannot boast of large reserves of energy resources. Here they are practically non-existent. The only exception is brown coal-lignite. Its total reserves are quite large and are estimated at 5 billion tons. However, this raw material is not of high quality. The main deposits are located onPeloponnesian peninsula in the vicinity of the city of Ptolemans. The use of alternative sources is also gaining momentum.

Be that as it may, there is every reason to believe that the Greek energy industry will begin to develop more intensively in the near future. The fact is that some time ago, oil fields were discovered in the Aegean Sea, not far from the island of Thassos. Their reserves, according to preliminary estimates, are about 19 million tons. In addition, there are also gas reserves nearby.

Chemical industry

The Greek chemical industry is well developed within Greater Athens. Local factories specialize in the production of mineral fertilizers, all kinds of acids, ammonia, turpentine oil, artificial fiber, and polyvinyl chloride. Most of them are later exported to many countries in Europe and the world. The production of cement plays a very important role in the Greek economy. The fact is that it is almost entirely based on the use of its own raw materials. Eloquent is the fact that in terms of cement exports in the world, the country is second only to Japan and Spain.