The Contribution of Shipping to the Greek Economy

Shipping is one of the most productive pillars of the Greek economy through its economic, social and strategic contribution. The overall impact of maritime transport on the Greek economy reaches 7% of the Gross Domestic Product (GDP), while it creates directly and indirectly hundreds of thousands of jobs in Greece. More importantly, shipping provides large monetary inflows to the Greek economy. In 2022 inflows to the Greek Balance of Payments by sea transport surpassed €21 billion, the largest contribution recorded in the last 20 years (Figure 12). Very importantly, for the period 2012-2022 shipping contributed €148 billion in inflows to the Greek economy, highlighting the pivotal role of the sector for Greece.

Greek shipping is the backbone of a thriving maritime services sector in Greece, attracting investments, talent and innovation.

Greek shipowners also invest heavily in many other economic sectors in Greece, such as technology, services, real estate, tourism and others, bringing additional value added to the country’s economy.

Apart from a major economic activity, shipping is a national asset for Greece contributing to the economy and society in multiple ways.