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Economy of Greece vs Grenada compared: GDP & Debt

Updated on by Georank team

Greece has a GDP of $257B compared to $1.39B for Grenada, ranking 54/197 and 184/197 by economy size, respectively.

Greece has $388B in government debt (142.2% of GDP), compared to $1.02B (71.4% of GDP) in Grenada.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Greece
GDP, current $

GDP, constant 2015 $
Grenada
GDP, current $

GDP, constant 2015 $
Year GDP
Greece Grenada
Current $ Constant $ Current $ Constant $
1960 $4,274,890,307 $41,539,985,362 - -
1961 $4,892,397,431 $47,024,857,985 - -
1962 $5,140,542,929 $47,196,410,447 - -
1963 $5,813,285,627 $52,786,762,335 - -
1964 $6,576,906,345 $57,753,826,340 - -
1965 $7,582,209,670 $63,972,764,697 - -
1966 $8,472,021,467 $68,127,476,784 - -
1967 $9,146,592,856 $71,989,954,838 - -
1968 $9,950,331,206 $77,175,907,942 - -
1969 $11,454,106,327 $86,100,274,028 - -
1970 $12,957,113,636 $93,789,528,053 - -
1971 $14,388,806,818 $101,143,730,558 - -
1972 $16,650,659,091 $111,420,086,908 - -
1973 $22,037,019,563 $120,436,622,702 - -
1974 $24,998,715,909 $112,682,623,198 - -
1975 $28,129,128,587 $119,856,909,405 - -
1976 $30,719,552,239 $128,069,383,418 - -
1977 $35,673,080,481 $131,835,905,144 $71,494,495 $294,935,712
1978 $43,654,480,519 $141,389,873,866 $88,322,386 $310,689,415
1979 $53,724,121,435 $146,030,402,056 $102,244,362 $328,094,495
1980 $56,039,256,595 $147,019,219,772 $110,900,457 $326,339,899
1981 $51,618,456,335 $144,734,950,885 $115,651,919 $331,346,564
1982 $53,858,346,939 $143,095,614,240 $125,435,590 $345,012,163
1983 $48,741,397,059 $141,552,152,406 $131,803,552 $357,544,989
1984 $47,352,146,312 $144,398,172,998 $145,533,311 $370,303,858
1985 $47,155,741,426 $148,021,926,594 $167,728,455 $392,446,948
1986 $55,595,445,472 $148,788,176,908 $187,589,523 $420,680,655
1987 $64,739,630,096 $145,427,255,499 $215,009,570 $458,951,763
1988 $75,200,610,137 $151,662,975,130 $236,357,524 $472,567,906
1989 $78,067,933,277 $157,426,168,114 $267,327,642 $490,372,992
1990 $96,529,587,274 $157,426,168,114 $278,098,763 $510,049,757
1991 $103,680,863,713 $162,306,378,863 $300,757,889 $517,116,730
1992 $114,608,178,405 $163,442,524,062 $310,160,444 $512,715,298
1993 $107,295,704,518 $160,827,443,642 $309,812,185 $502,672,150
1994 $114,980,063,202 $164,043,992,269 $325,111,815 $511,185,185
1995 $134,974,613,914 $167,488,456,016 $342,172,519 $522,070,746
1996 $142,502,984,145 $169,803,934,634 $366,911,444 $545,241,472
1997 $138,766,067,640 $175,921,772,179 $392,190,593 $572,588,028
1998 $139,612,812,176 $181,968,090,541 $445,903,593 $639,887,179
1999 $137,131,371,955 $186,806,231,971 $482,009,370 $684,028,916
2000 $125,760,166,225 $194,535,950,664 $520,044,370 $717,463,922
2001 $132,050,474,720 $203,582,678,905 $520,444,185 $702,943,169
2002 $150,253,800,086 $213,116,735,217 $540,336,926 $727,105,600
2003 $196,930,509,813 $225,470,734,593 $591,018,407 $795,918,681
2004 $234,979,615,898 $237,596,249,349 $599,118,593 $790,765,503
2005 $242,315,668,619 $240,408,216,059 $695,555,556 $895,749,021
2006 $269,073,415,334 $255,898,673,343 $698,700,667 $859,960,907
2007 $314,226,996,944 $264,872,706,551 $758,683,593 $912,620,191
2008 $351,121,399,546 $265,024,939,553 $825,976,037 $921,267,657
2009 $326,829,054,686 $254,107,830,646 $771,275,556 $860,341,635
2010 $296,417,644,404 $239,639,588,360 $771,014,815 $855,944,031
2011 $283,228,079,776 $215,970,916,413 $778,655,556 $862,490,065
2012 $238,841,140,018 $197,978,089,510 $799,881,481 $852,529,700
2013 $236,556,279,641 $193,479,795,684 $842,618,519 $872,573,509
2014 $233,911,581,521 $195,012,591,114 $911,496,296 $936,638,938
2015 $194,567,373,678 $194,567,373,678 $997,007,407 $997,007,407
2016 $193,097,239,006 $194,505,511,433 $1,061,640,741 $1,034,291,536
2017 $200,381,103,984 $197,370,820,218 $1,125,685,185 $1,080,200,383
2018 $213,298,873,494 $201,445,880,435 $1,166,514,815 $1,127,312,678
2019 $207,305,649,887 $206,033,167,051 $1,213,485,185 $1,134,939,081
2020 $191,362,985,555 $187,085,880,048 $1,043,411,111 $978,809,799
2021 $218,303,801,895 $203,277,223,533 $1,122,800,000 $1,024,691,294
2022 $218,880,566,444 $214,952,753,801 $1,231,732,104 $1,099,706,286
2023 $243,498,333,238 $219,965,719,527 $1,323,985,600 $1,151,169,921
2024 $257,144,811,302 $224,962,760,463 $1,391,435,993 $1,193,683,309

Economic indicators

Greece Grenada
Gross domestic product
$257B
2024
$1.39B
2024
GDP rank
54/197
2024
184/197
2024
GDP growth
5.6%
2023-2024
5.09%
2023-2024
GDP per capita
$24,752
2024
$11,872
2024
GDP per capita rank
49/197
2024
80/197
2024
GDP per capita, PPP
$44,074
2024
$20,167
2024
Government debt
$388B
2024
$1.02B
2024
Debt-to-GDP ratio
142.2%
2025
71.4%
2025
Government debt per person
$37,349
2024
$8,688
2024
Government debt per person rank
16/185
2024
62/185
2024
Average annual personal income after taxes
$13,372
2025
$11,039
2025
Market capitalization of domestic companies
$83.2B
2024
n/a
Number of billionaires
16
2025
n/a
Income share by richest 10%
26%
2023
33.7%
2018
Income share by poorest 10%
2.7%
2023
2.1%
2018
Government expenditure, % of GDP
49.9%
2025
39.6%
2025
Consumer prices inflation
2.74%
2023-2024
1.09%
2023-2024
Unemployment rate
10%
2024
6.34%
2023
Population
10276140
117349

GDP per capita in Greece vs Grenada

Greece's GDP per capita is $24,752, ranking 49/197, compared to $11,872 in Grenada, ranking 80/197. Adjusted for purchasing power (GDP per capita PPP), Greece ranks 51st at $44,074, while Grenada ranks 95th at $20,167.

Greece
GDP per capita

GDP per capita, PPP
Grenada
GDP per capita

GDP per capita, PPP
Year Current $
Greece Grenada
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $513 - - -
1961 $583 - - -
1962 $608 - - -
1963 $686 - - -
1964 $773 - - -
1965 $887 - - -
1966 $984 - - -
1967 $1,053 - - -
1968 $1,138 - - -
1969 $1,306 - - -
1970 $1,474 - - -
1971 $1,629 - - -
1972 $1,873 - - -
1973 $2,468 - - -
1974 $2,789 - - -
1975 $3,109 - - -
1976 $3,343 - - -
1977 $3,832 - $737 -
1978 $4,629 - $917 -
1979 $5,627 - $1,071 -
1980 $5,812 - $1,173 -
1981 $5,305 - $1,230 -
1982 $5,502 - $1,329 -
1983 $4,950 - $1,388 -
1984 $4,785 - $1,524 -
1985 $4,747 - $1,745 -
1986 $5,578 - $1,938 -
1987 $6,474 - $2,205 -
1988 $7,492 - $2,404 -
1989 $7,738 - $2,697 -
1990 $9,467 $13,118 $2,782 $4,553
1991 $10,047 $13,815 $2,984 $4,733
1992 $11,021 $14,120 $3,053 $4,761
1993 $10,257 $14,140 $3,026 $4,742
1994 $10,937 $14,657 $3,152 $4,889
1995 $12,779 $15,208 $3,294 $5,062
1996 $13,433 $15,773 $3,508 $5,347
1997 $13,016 $16,627 $3,725 $5,673
1998 $13,023 $17,432 $4,206 $6,368
1999 $12,743 $17,758 $4,516 $6,857
2000 $11,638 $18,816 $4,840 $7,306
2001 $12,157 $20,306 $4,820 $7,283
2002 $13,782 $21,985 $4,984 $7,621
2003 $18,021 $23,256 $5,428 $8,469
2004 $21,449 $24,829 $5,480 $8,606
2005 $22,054 $25,004 $6,339 $10,016
2006 $24,416 $28,082 $6,344 $9,877
2007 $28,441 $28,897 $6,865 $10,728
2008 $31,696 $30,441 $7,448 $11,001
2009 $29,425 $29,948 $6,933 $10,303
2010 $26,653 $27,842 $6,910 $10,344
2011 $25,505 $25,693 $6,947 $10,592
2012 $21,624 $24,583 $7,093 $10,575
2013 $21,573 $25,731 $7,425 $11,199
2014 $21,475 $26,450 $7,986 $12,229
2015 $17,981 $26,615 $8,694 $13,214
2016 $17,919 $27,505 $9,221 $13,978
2017 $18,632 $28,682 $9,751 $15,041
2018 $19,873 $29,792 $10,083 $15,975
2019 $19,335 $31,927 $10,463 $16,446
2020 $17,887 $29,533 $8,969 $14,361
2021 $20,655 $33,531 $9,622 $15,298
2022 $20,972 $38,969 $10,535 $17,555
2023 $23,401 $41,182 $11,308 $19,010
2024 $24,752 $44,074 $11,872 $20,167

Spending and national debt comparison

In 2024, Greece's government spending was $127B, accounting for 49.9% of its GDP, while Grenada's spent $518M, or 39.6% of GDP.

Debt-to-GDP ratio is 142.2% in Greece and 71.4% in Grenada, ranking 7/185 and 53/185, respectively.

Greece
Government spending

Government debt
Grenada
Government spending

Government debt
Year % of GDP
Greece Grenada
Government spending Government debt Government spending Government debt
1960 20% 13.4% - -
1961 19.3% 14.4% - -
1962 19.7% 16.6% - -
1963 19.5% 22.6% - -
1964 20.4% 21.3% - -
1965 21.7% 16.5% - -
1966 22.8% 19% - -
1967 24.6% 21.1% - -
1968 26.3% 23% - -
1969 29.7% 25.8% - -
1970 25.2% 24.7% - -
1971 25.8% 25% - -
1972 26.8% 26.5% - -
1973 24.3% 22% - -
1974 25.3% 22.5% - -
1975 28.7% 24.1% - -
1976 29.1% 23.7% - -
1977 30.1% 24.5% - -
1978 30.1% 32.3% - -
1979 24.1% 22.7% - -
1980 24.2% 22.5% - -
1981 27.7% 26.7% - -
1982 28.3% 29.3% - -
1983 29.8% 33.6% - -
1984 31.5% 40.1% - -
1985 33.8% 46.6% - -
1986 33.3% 47.1% - -
1987 33.6% 52.4% - -
1988 33.4% 57.1% - -
1989 34.3% 59.8% - -
1990 38.5% 74.2% 29% 46.2%
1991 35.2% 75.7% 26.8% 42%
1992 36.9% 81.1% 21.8% 40.1%
1993 38.6% 101.7% 23.1% 45.3%
1994 36.9% 99.7% 24.7% 45.7%
1995 46.6% 100.4% 23.2% 43.1%
1996 46.1% 103.7% 26.3% 43.9%
1997 45.1% 102.6% 26.6% 41.4%
1998 46.7% 100.8% 25.3% 40.3%
1999 48% 102.8% 23.7% 34.5%
2000 48.2% 108.9% 25.6% 41.6%
2001 47.5% 110.5% 29.6% 44.6%
2002 47.1% 107.9% 35.7% 79.1%
2003 47.9% 104.3% 28.7% 79.6%
2004 48.8% 105.5% 24.7% 94.7%
2005 46.6% 109.9% 26.6% 87.3%
2006 45.9% 105.3% 32.4% 92.9%
2007 47.8% 104.6% 27.7% 89.1%
2008 51.5% 110.9% 27.9% 83.9%
2009 54.8% 128.5% 27.2% 91.1%
2010 53.1% 147.8% 28% 96.2%
2011 55.1% 175.1% 28.3% 102.8%
2012 54.9% 164.3% 26.2% 101.5%
2013 53% 180.5% 28.1% 105.4%
2014 51.5% 182.8% 28.7% 99.3%
2015 51.9% 180% 25.3% 90.1%
2016 50.3% 183.7% 23.5% 81.6%
2017 48.5% 182.6% 22.6% 70.4%
2018 48.6% 189.6% 22.4% 68.5%
2019 47.6% 183.7% 21.6% 62.7%
2020 59.3% 209.9% 32.7% 89.5%
2021 56.7% 197.8% 31.2% 86.6%
2022 52.9% 178.4% 31.8% 78.8%
2023 49.5% 165.2% 28.9% 75.2%
2024 49.5% 150.9% 37.2% 73.2%
2025 49.9% 142.2% 39.6% 71.4%

Government deficit by year

In 2024, Greece's government deficit, the difference between spending and revenue, was -$811M, equivalent to -0.32% of GDP. This compares to Grenada's surplus of $92.9M, or 6.68% of GDP.

Over the past 35 years, Greece recorded a fiscal deficit in 32 of those years, while Grenada ran a deficit in 26 years. On average, Greece posted an annual deficit equal to -6.53% of GDP, compared to deficit of -2.08% of GDP for Grenada.

Deficit/surplus
Greece

Grenada
Year Deficit/surplus, % of GDP
Greece Grenada
1880 -13.5% -
1881 -14.5% -
1882 -1.69% -
1883 -2.42% -
1884 -7.16% -
1885 -12.1% -
1886 -11.5% -
1887 -4.88% -
1888 -3.59% -
1889 -15.7% -
1890 -11.2% -
1891 -6.48% -
1892 -2.28% -
1893 0.14% -
1894 2.91% -
1895 0.37% -
1896 0.82% -
1897 -8.46% -
1898 -34.5% -
1899 0.86% -
1900 0.41% -
1901 0.1% -
1902 -1.67% -
1903 -0.22% -
1904 -0.04% -
1905 0.91% -
1906 0.66% -
1907 -1.23% -
1908 -1.54% -
1909 -2.64% -
1910 -1.53% -
1911 -4.61% -
1912 -7.43% -
1913 -8.96% -
1914 -8.96% -
1915 -8.96% -
1916 -8.96% -
1917 -8.96% -
1918 -8.96% -
1919 -8.96% -
1920 -8.96% -
1921 -8.96% -
1922 -8.96% -
1923 -8.96% -
1924 -8.96% -
1925 -8.96% -
1926 -8.96% -
1927 2.65% -
1928 -0.27% -
1929 -18.7% -
1930 -2.23% -
1931 -4% -
1932 -1.78% -
1933 -2.79% -
1934 0.88% -
1935 0.72% -
1936 0.95% -
1937 1.06% -
1938 1.78% -
1939 0.48% -
1940 0.48% -
1941 0.48% -
1942 0.48% -
1943 0.48% -
1944 0.48% -
1945 0.48% -
1946 0.48% -
1947 0.48% -
1948 -7.65% -
1949 -10.4% -
1950 -12.7% -
1951 -11.5% -
1952 -7.21% -
1953 -3.01% -
1954 -2.87% -
1955 -3.57% -
1956 -0.39% -
1957 -2.45% -
1958 -2.27% -
1959 -2.77% -
1960 -3.3% -
1961 -2.69% -
1962 -2.4% -
1963 -2.25% -
1964 -2.89% -
1965 -2.55% -
1966 -2.17% -
1967 -2.59% -
1968 -3.39% -
1969 -6.65% -
1970 -3.24% -
1971 -3.32% -
1972 -4.16% -
1973 -3.71% -
1974 -4.39% -
1975 -5.3% -
1976 -5.05% -
1977 -5.21% -
1978 -5.39% -
1979 -2.34% -
1980 -2.47% -
1981 -6.98% -
1982 -5.42% -
1983 -6.09% -
1984 -7.09% -
1985 -9.43% -
1986 -8.5% -
1987 -7.98% -
1988 -9.49% -
1989 -11.7% -
1990 -13.3% -7.78%
1991 -9.63% -4.34%
1992 -10.6% -1.46%
1993 -11.5% -0.16%
1994 -8.48% -2.85%
1995 -9.87% -0.46%
1996 -8.35% -3.02%
1997 -6.25% -4.94%
1998 -6.48% -2.39%
1999 -6.02% -1.7%
2000 -4.21% -2.07%
2001 -5.64% -6.05%
2002 -6.2% -13.9%
2003 -8.05% -2.81%
2004 -9.05% -0.57%
2005 -6.33% 0.9%
2006 -6.04% -5.23%
2007 -6.81% -5.91%
2008 -10.3% -3.72%
2009 -15.4% -4.4%
2010 -11.4% -4.07%
2011 -10.5% -4.86%
2012 -6.94% -5.44%
2013 -4.06% -7.25%
2014 -4.29% -4.2%
2015 -3.03% -0.8%
2016 0.28% 2.69%
2017 1.05% 3.01%
2018 0.78% 4.59%
2019 -0.09% 4.97%
2020 -10.3% -4.54%
2021 -7.44% 0.31%
2022 -2.46% 0.95%
2023 -1.32% 8.01%
2024 -0.32% 6.68%
2025 -0.48% -8.85%

Inflation comparison by year

Over the past 29 years, Greece has recorded an average annual inflation rate of 2.6%, compared with 1.85% in Grenada. In 2024, inflation was 2.74% in Greece and 1.09% in Grenada.

Inflation
Greece

Grenada
Year Inflation
Greece Grenada Greece Grenada
1996 8.19% 2.03%
1997 5.54% 1.24%
1998 4.77% 1.38%
1999 2.64% 0.58%
2000 3.15% 2.18%
2001 3.37% 3.14%
2002 3.63% 1.07%
2003 3.53% 2.15%
2004 2.9% 2.31%
2005 3.55% 3.48%
2006 3.2% 4.25%
2007 2.9% 3.86%
2008 4.15% 8.03%
2009 1.21% -0.31%
2010 4.71% 3.44%
2011 3.33% 3.03%
2012 1.5% 2.41%
2013 -0.92% -0.04%
2014 -1.31% -0.98%
2015 -1.74% -0.52%
2016 -0.83% 1.65%
2017 1.12% 0.91%
2018 0.63% 0.8%
2019 0.25% 0.6%
2020 -1.25% -0.74%
2021 1.22% 1.22%
2022 9.65% 2.58%
2023 3.46% 2.7%
2024 2.74% 1.09%

Top exports between countries

Greece
Export category Export value
Machinery & equipment $387K
Textiles & consumer goods $100K
Chemicals & pharma $34K
Metals $11K
Wood & paper products $6K
Raw materials & minerals $1K
Grenada
Export category Export value
Wood & paper products $2K

Balance of trade

Greece Grenada
Current account balance
-$16.4B
2024
-$271M
2024
Current account balance ranking
180/189
2024
96/189
2024
Current account balance, % of GDP
-6.38%
2024
-19.5%
2024
Goods imports
$91.2B
2024
$562M
2024
Goods exports
$52.6B
2024
$70.4M
2024
Service imports
$31.2B
2024
$429M
2024
Service exports
$55.8B
2024
$789M
2024
Imports of goods and services, % of GDP
47.3%
2024
n/a
Exports of goods and services, % of GDP
42%
2024
16%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Greece Grenada
Economic freedom 60.6 63
Economic freedom ranking 90/197 81/197
Property rights 77.3 n/a
Government integrity 51.8 n/a
Judicial effectiveness 70.4 n/a
Tax burden 60 n/a
Government spending 14 n/a
Fiscal health 58.9 n/a
Business freedom 78 n/a
Labor freedom 61.7 n/a
Monetary freedom 70.7 n/a
Trade freedom 79.6 n/a
Investment freedom 55 n/a
Financial freedom 50 n/a

More economic indicators

Greece Grenada
Services, % of GDP
68%
2024
65.2%
2024
Industry, % of GDP
15.4%
2024
14.8%
2024
Agriculture, forestry, and fishing, % of GDP
3.32%
2024
2.75%
2024
GNI, Atlas method
$239B
2024
$1.24B
2024
GNI per capita, PPP
$43,100
2024
$18,240
2024
Total reserves including gold
$15.2B
2024
$423M
2024
Total reserves ranking
67/177
2024
161/177
2024
Net foreign direct investment
-$4.66B
2024
-$223M
2024
Net inflows of foreign direct investment
$6.45B
2024
$226M
2024
Net outflows of foreign direct investment
$1.79B
2024
$2.72M
2024
Servicing debt to the IMF, % of GNI
n/a
4.67%
2023
Poverty at national poverty lines
18.8%
2021
38%
2020
Gross capital formation, % of GDP
18.2%
2024
n/a

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.