The Impact of the Primary Sector on GDP of Greece, An Econometric Approach

Abstract

The agriculture sector has long been one of Greece's most important production sectors. Its significance is multifaceted, affecting both the economy and Greek society. Agriculture plays a critical role in rural development. Although the agricultural sector's involvement in the Greek economy has declined dramatically in recent years, it remains high when compared to other EU member states. This article investigates the relationship between Greece's GDP and the agricultural, industrial, and service sectors from 1996 to 2020, including the financial crisis and the pandemic COVID-19 era. In Greece, there is a negative association between GDP and agriculture, whereas industry and services appear to be positively related to the country's GDP.

JEL Classifications: O12, O5, O5

Key words: Primary Sector, GDP, Economic Growth