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Economy of Greece vs Russia compared: GDP & Debt

Updated on by Georank team

Greece has a GDP of $256B compared to $2.17T for Russia, ranking 53/197 and 11/197 by economy size, respectively.

Greece has $397B in government debt (154.8% of GDP), compared to $440B (20.3% of GDP) in Russia.

Greece vs Russia GDP by year

Greece
Russia
1x
Year GDP, current $
Greece Russia
2024 $256,238,371,778 $2,173,835,806,672
2023 $242,946,187,738 $2,071,505,725,031
2022 $217,990,189,601 $2,291,612,121,335
2021 $218,303,801,895 $1,829,186,719,575
2020 $191,362,985,555 $1,493,075,894,362
2019 $207,305,649,887 $1,693,115,002,708
2018 $213,298,873,494 $1,657,328,773,461
2017 $200,381,103,984 $1,574,199,360,089
2016 $193,097,239,006 $1,276,786,350,881
2015 $194,567,373,678 $1,363,482,182,198
2014 $233,911,581,521 $2,059,241,589,895
2013 $236,556,279,641 $2,292,470,078,346
2012 $238,841,140,018 $2,208,293,553,878
2011 $283,228,079,776 $2,045,922,753,398
2010 $296,417,644,404 $1,524,916,715,224
2009 $326,829,054,686 $1,222,645,900,056
2008 $351,121,399,546 $1,660,848,058,303
2007 $314,226,996,944 $1,299,703,478,482
2006 $269,073,415,334 $989,932,071,353
2005 $242,315,668,619 $764,015,973,481
2004 $234,979,615,898 $591,016,690,732
2003 $196,930,509,813 $430,347,420,185
2002 $150,253,800,086 $345,470,494,418
2001 $132,050,474,720 $306,602,070,621
2000 $125,760,166,225 $259,710,142,197
1999 $137,131,371,955 $195,907,128,351
1998 $139,612,812,176 $270,955,486,862
1997 $138,766,067,640 $404,928,954,192
1996 $142,502,984,145 $391,724,890,744
1995 $134,974,613,914 $395,537,185,735
1994 $114,980,063,202 $395,077,301,248
1993 $107,295,704,518 $435,083,713,851
1992 $114,608,178,405 $460,290,556,901
1991 $103,680,863,713 $517,962,962,963
1990 $96,529,587,274 $517,014,446,228
1989 $78,067,933,277 $506,631,299,735
1988 $75,200,610,137 $554,828,660,436
1987 $64,739,630,096 -
1986 $55,595,445,472 -
1985 $47,155,741,426 -
1984 $47,352,146,312 -
1983 $48,741,397,059 -
1982 $53,858,346,939 -
1981 $51,618,456,335 -
1980 $56,039,256,595 -
1979 $53,724,121,435 -
1978 $43,654,480,519 -
1977 $35,673,080,481 -
1976 $30,719,552,239 -
1975 $28,129,128,587 -
1974 $24,998,715,909 -
1973 $22,037,019,563 -
1972 $16,650,659,091 -
1971 $14,388,806,818 -
1970 $12,957,113,636 -
1969 $11,454,106,327 -
1968 $9,950,331,206 -
1967 $9,146,592,856 -
1966 $8,472,021,467 -
1965 $7,582,209,670 -
1964 $6,576,906,345 -
1963 $5,813,285,627 -
1962 $5,140,542,929 -
1961 $4,892,397,431 -
1960 $4,274,890,307 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/greece/russia | CC BY

GDP per capita in Greece vs Russia by year

Greece
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Greece Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $24,626 $44,327 $15,145 $47,405
2023 $23,344 $42,711 $14,403 $44,269
2022 $20,887 $39,612 $15,888 $40,939
2021 $20,655 $33,531 $12,637 $38,638
2020 $17,887 $29,533 $10,280 $31,491
2019 $19,335 $31,927 $11,640 $30,964
2018 $19,873 $29,792 $11,399 $28,629
2017 $18,632 $28,682 $10,835 $25,778
2016 $17,919 $27,505 $8,804 $24,012
2015 $17,981 $26,608 $9,427 $23,994
2014 $21,475 $26,450 $14,277 $25,688
2013 $21,573 $25,731 $15,941 $26,020
2012 $21,624 $24,583 $15,402 $24,274
2011 $25,505 $25,693 $14,305 $22,790
2010 $26,653 $27,839 $10,675 $20,490
2009 $29,425 $29,963 $8,563 $19,390
2008 $31,696 $30,441 $11,635 $20,164
2007 $28,441 $28,896 $9,101 $16,648
2006 $24,416 $28,076 $6,920 $14,912
2005 $22,054 $25,004 $5,323 $11,822
2004 $21,449 $24,826 $4,102 $10,227
2003 $18,021 $23,253 $2,975 $9,255
2002 $13,782 $21,985 $2,378 $8,037
2001 $12,157 $20,304 $2,100 $7,361
2000 $11,638 $18,820 $1,772 $6,825
1999 $12,743 $17,758 $1,331 $5,914
1998 $13,023 $17,434 $1,835 $5,465
1997 $13,016 $16,630 $2,738 $5,700
1996 $13,433 $15,778 $2,644 $5,518
1995 $12,779 $15,218 $2,666 $5,613
1994 $10,937 $14,667 $2,662 $5,734
1993 $10,257 $14,150 $2,931 $6,420
1992 $11,021 $14,130 $3,099 $6,862
1991 $10,047 $13,824 $3,490 $7,858
1990 $9,467 $13,126 $3,494 $8,028
1989 $7,738 - $3,430 -
1988 $7,492 - $3,778 -
1987 $6,474 - - -
1986 $5,578 - - -
1985 $4,747 - - -
1984 $4,785 - - -
1983 $4,950 - - -
1982 $5,502 - - -
1981 $5,305 - - -
1980 $5,812 - - -
1979 $5,627 - - -
1978 $4,629 - - -
1977 $3,832 - - -
1976 $3,343 - - -
1975 $3,109 - - -
1974 $2,789 - - -
1973 $2,468 - - -
1972 $1,873 - - -
1971 $1,629 - - -
1970 $1,474 - - -
1969 $1,306 - - -
1968 $1,138 - - -
1967 $1,053 - - -
1966 $984 - - -
1965 $887 - - -
1964 $773 - - -
1963 $686 - - -
1962 $608 - - -
1961 $583 - - -
1960 $513 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/greece/russia | CC BY

Greece's GDP per capita is $24,626, ranking 49/197, compared to $15,145 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), Greece ranks 52nd at $44,327, while Russia ranks 50th at $47,405.

Economic indicators

Greece Russia
Gross domestic product
$256B
2024
$2.17T
2024
GDP rank
53/197
2024
11/197
2024
GDP growth
2.09%
2023-2024
4.34%
2023-2024
GDP per capita
$24,626
2024
$15,145
2024
GDP per capita rank
49/197
2024
68/197
2024
GDP per capita, PPP
$44,327
2024
$47,405
2024
GDP per capita PPP rank
52/197
2024
50/197
2024
Government debt
$397B
2024
$440B
2024
Debt-to-GDP ratio
154.8%
2024
20.3%
2024
Government debt per person
$38,119
2024
$3,067
2024
Government debt per person rank
16/185
2024
98/185
2024
Average annual personal income after taxes
$14,396
2026
$10,464
2026
Market capitalization of domestic companies
$83.2B
2024
$650B
2023
Number of millionaires n/a
426,000
2025
Number of billionaires
16
2025
140
2025
Income share by richest 10%
26%
2023
25.1%
2023
Income share by poorest 10%
2.7%
2023
3.1%
2023
Government expenditure, % of GDP
48%
2024
36.9%
2024
Consumer prices inflation
2.74%
2023-2024
8.4%
2023-2024
Central bank interest rate n/a
16%
2025
Unemployment rate
10%
2024
2.43%
2024
Population
10181414
141906741

Spending and national debt comparison by year

Greece
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
Greece Russia
Government spending Government debt Government spending Government debt
2024 48% 154.8% 36.9% 20.3%
2023 49.5% 165.2% 35.7% 19.5%
2022 52.8% 178.4% 35.2% 18.5%
2021 56.7% 197.8% 34.9% 16.5%
2020 59.3% 209.9% 39.2% 19.2%
2019 47.6% 183.7% 33.8% 13.7%
2018 48.6% 189.6% 32.6% 13.6%
2017 48.5% 182.6% 34.8% 14.3%
2016 50.3% 183.7% 36.6% 14.8%
2015 51.9% 180% 35.3% 15.3%
2014 51.5% 182.8% 34.9% 15.1%
2013 53% 180.5% 34.7% 12.3%
2012 54.9% 164.3% 34% 11.2%
2011 55.1% 175.1% 33.3% 10.3%
2010 53.1% 147.8% 35.5% 10.1%
2009 54.8% 128.5% 38.6% 9.92%
2008 51.5% 110.9% 32% 7.45%
2007 47.8% 104.6% 31.9% 8.03%
2006 45.9% 105.3% 29% 9.8%
2005 46.6% 109.9% 29.5% 14.9%
2004 48.8% 105.5% 29.6% 20.8%
2003 47.9% 104.3% 32.6% 28.3%
2002 47.1% 107.9% 33.8% 37.6%
2001 47.5% 110.5% 31.5% 44.4%
2000 48.2% 108.9% 30.7% 55.9%
1999 48% 102.8% 34.3% 92.4%
1998 46.7% 100.8% 39.7% 135.2%
1997 45.1% 102.6% - 51.5%
1996 46.1% 103.7% - 51.9%
1995 46.6% 100.4% - 53.7%
1994 36.9% 99.7% - 63.5%
1993 38.6% 101.7% - 92.4%
1992 36.9% 81.1% - 116%
1991 35.2% 75.7% - -
1990 38.5% 74.2% - -
1989 34.8% 60.7% - -
1988 33.8% 57.9% - -
1987 34% 53.2% - -
1986 33.8% 47.8% - -
1985 34.2% 47.3% - -
1984 32% 40.6% - -
1983 30.2% 34.1% - -
1982 28.7% 29.7% - -
1981 28.1% 27.1% - -
1980 24.5% 22.8% - -
1979 24.1% 22.7% - -
1978 30.1% 32.3% - -
1977 30.1% 24.5% - -
1976 29.1% 23.7% - -
1975 28.7% 24.1% - -
1974 25.3% 22.5% - -
1973 24.3% 22% - -
1972 26.8% 26.5% - -
1971 25.8% 25% - -
1970 25.2% 24.7% - -
1969 29.7% 25.8% - -
1968 26.3% 23% - -
1967 24.6% 21.1% - -
1966 22.8% 19% - -
1965 21.7% 16.5% - -
1964 20.4% 21.3% - -
1963 19.5% 22.6% - -
1962 19.7% 16.6% - -
1961 19.3% 14.4% - -
1960 20% 13.4% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1996, retrieved 2026-02-20).

GeoRank.org/economy/greece/russia | CC BY

In 2024, Greece's government spending was $123B, accounting for 48% of its GDP, while Russia spent $802B, or 36.9% of GDP.

Debt-to-GDP ratio is 154.8% in Greece and 20.3% in Russia, ranking 7/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
Greece

Russia
1x
Year Deficit/surplus, % of GDP
Greece Russia
2024 1.34% -1.6%
2023 -1.35% -2.22%
2022 -2.46% -1.34%
2021 -7.58% 0.78%
2020 -10.3% -3.99%
2019 -0.09% 1.93%
2018 0.78% 2.92%
2017 1.05% -1.47%
2016 0.28% -3.67%
2015 -3.03% -3.39%
2014 -4.29% -1.07%
2013 -4.06% -1.16%
2012 -6.94% 0.38%
2011 -10.5% 1.43%
2010 -11.4% -3.19%
2009 -15.4% -5.89%
2008 -10.3% 4.55%
2007 -6.81% 5.59%
2006 -6.04% 7.8%
2005 -6.33% 7.6%
2004 -9.05% 4.57%
2003 -8.05% 1.35%
2002 -6.2% 0.67%
2001 -5.64% 2.99%
2000 -4.21% 3.11%
1999 -6.02% -3.59%
1998 -6.48% -7.42%
1997 -6.25% -
1996 -8.35% -
1995 -9.87% -
1994 -8.48% -
1993 -11.5% -
1992 -10.6% -
1991 -9.63% -
1990 -13.3% -
1989 -11.9% -
1988 -9.63% -
1987 -8.09% -
1986 -8.62% -
1985 -9.56% -
1984 -7.19% -
1983 -6.17% -
1982 -5.49% -
1981 -7.08% -
1980 -2.5% -
1979 -2.34% -
1978 -5.39% -
1977 -5.21% -
1976 -5.05% -
1975 -5.3% -
1974 -4.39% -
1973 -3.71% -
1972 -4.16% -
1971 -3.32% -
1970 -3.24% -
1969 -6.65% -
1968 -3.39% -
1967 -2.59% -
1966 -2.17% -
1965 -2.55% -
1964 -2.89% -
1963 -2.25% -
1962 -2.4% -
1961 -2.69% -
1960 -3.3% -
1959 -2.77% -
1958 -2.27% -
1957 -2.45% -
1956 -0.39% -
1955 -3.57% -
1954 -2.87% -
1953 -3.01% -
1952 -7.21% -
1951 -11.5% -
1950 -12.7% -
1949 -10.4% -
1948 -7.65% -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - 0.15%
1939 0.48% 0.12%
1938 1.78% 0.16%
1937 1.06% 0.12%
1936 0.95% 0.1%
1935 0.72% 0.07%
1934 0.88% 0.25%
1933 -2.79% 0.58%
1932 -1.78% 0.06%
1931 -4% -1.12%
1930 -2.23% -1.62%
1929 -18.7% -0.4%
1928 -0.27% -0.4%
1927 2.65% -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 -8.96% -
1912 -7.43% 0.69%
1911 -4.61% 1.26%
1910 -1.53% 1.52%
1909 -2.64% -0.15%
1908 -1.54% -0.83%
1907 -1.23% -0.86%
1906 0.66% -3.19%
1905 0.91% -7.72%
1904 -0.04% -5.13%
1903 -0.22% 1.04%
1902 -1.67% -1.57%
1901 0.1% 0.14%
1900 0.41% -0.36%
1899 0.86% 0.66%
1898 -34.5% 0.03%
1897 -8.46% 0.34%
1896 0.82% 1.3%
1895 0.37% 0.7%
1894 2.91% 1.43%
1893 0.14% 0.63%
1892 -2.28% -1.16%
1891 -6.48% -0.97%
1890 -11.2% 0.01%
1889 -15.7% 1.34%
1888 -3.59% 0.88%
1887 -4.88% 0.14%
1886 -11.5% -0.84%
1885 -12.1% -0.75%
1884 -7.16% -
1883 -2.42% -
1882 -1.69% -
1881 -14.5% -
1880 -13.5% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/greece/russia | CC BY

In 2024, Greece's government surplus, the difference between spending and revenue, was $3.43B, equivalent to 1.34% of GDP. This compares to Russia's deficit of $34.9B, or 1.6% of GDP.

Over the past 27 years, Greece recorded a fiscal deficit in 23 of those years, while Russia ran a deficit in 13 years. On average, Greece posted an annual deficit equal to 5.53% of GDP, compared to surplus of 0.21% of GDP for Russia.

Inflation comparison by year

Inflation
Greece

Russia
1x
Year Consumer prices inflation
Greece Russia
2024 2.74% 8.4%
2023 3.46% 5.9%
2022 9.65% 13.7%
2021 1.22% 6.7%
2020 -1.25% 3.4%
2019 0.25% 4.5%
2018 0.63% 2.9%
2017 1.12% 3.7%
2016 -0.83% 7%
2015 -1.74% 15.5%
2014 -1.31% 7.8%
2013 -0.92% 6.8%
2012 1.5% 5.1%
2011 3.33% 8.4%
2010 4.71% 6.8%
2009 1.21% 11.6%
2008 4.15% 14.1%
2007 2.9% 9%
2006 3.2% 9.7%
2005 3.55% 12.7%
2004 2.9% 10.9%
2003 3.53% 13.7%
2002 3.63% 15.8%
2001 3.37% 21.5%
2000 3.15% 20.8%
1999 2.64% 85.7%
1998 4.77% 27.7%
1997 5.54% 14.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/greece/russia | CC BY

Over the past 28 years, Greece has recorded an average annual inflation rate of 2.4%, compared with 13.4% in Russia. In 2024, inflation was 2.74% in Greece and 8.4% in Russia.

Top exports between countries

Greece
Export category Export value
Transport & tourism services $658M
Processed food, beverages & tobacco $38.6M
Chemicals & pharma $19.2M
Raw materials & minerals $13.2M
Machinery & equipment $12.5M
Textiles & consumer goods $8.76M
Miscellaneous $5.95M
Business & finance services $5.59M
Manufacturing & construction services $3.58M
Metals $2.38M
Russia
Export category Export value
Raw materials & minerals $2.82B
Miscellaneous $918M
Metals $277M
Raw agricultural goods $104M
Transport & tourism services $64.9M
Wood & paper products $32.8M
Business & finance services $20.8M
Machinery & equipment $16.1M
Processed food, beverages & tobacco $13.3M
Chemicals & pharma $8.6M

Balance of trade

Greece Russia
Current account balance
-$18.2B
2024
$63.4B
2024
Current account balance ranking
182/190
2024
12/190
2024
Current account balance, % of GDP
-7.11%
2024
+2.91%
2024
Goods imports
$91.2B
2024
$302B
2024
Goods exports
$52.6B
2024
$434B
2024
Service imports
$31.1B
2024
$81.5B
2024
Service exports
$55.8B
2024
$43.1B
2024
Imports of goods and services, % of GDP
47.7%
2024
17.6%
2024
Exports of goods and services, % of GDP
42.1%
2024
21.9%
2024

Economic freedom indices

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

Greece Russia
Economic freedom 63.2 50.3
Economic freedom ranking 82/197 161/197
Property rights 78 18.6
Government integrity 54.8 22.8
Judicial effectiveness 68 22.8
Tax burden 59.9 81.9
Government spending 24.7 61.3
Fiscal health 78.9 94.4
Business freedom 77.8 51.4
Labor freedom 59.7 59.1
Monetary freedom 72.6 61.8
Trade freedom 79.4 69.4
Investment freedom 55 30
Financial freedom 50 30

Economic freedom comparison by year

Greece
Russia
1x
Year Economic freedom index
Greece Russia
2026 63.2 50.3
2025 60.6 51.6
2024 55.1 52
2023 56.9 53.8
2022 61.5 56.1
2021 60.9 61.5
2020 59.9 61
2019 57.7 58.9
2018 57.3 58.2
2017 55 57.1
2016 53.2 50.6
2015 54 52.1
2014 55.7 51.9
2013 55.4 51.1
2012 55.4 50.5
2011 60.3 50.5
2010 62.7 50.3
2009 60.8 50.8
2008 60.6 49.8
2007 58.7 52.2
2006 60.1 52.4
2005 59 51.3
2004 59.1 52.8
2003 58.8 50.8
2002 59.1 48.7
2001 63.4 49.8
2000 61 51.8
1999 61 54.5
1998 60.6 52.8
1997 59.6 48.6
1996 60.5 51.6
1995 61.2 51.1

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/greece/russia | CC BY

The Economic Freedom Index for Greece is 63.2, ranking 82/197, compared to 50.3 for Russia, ranking 161/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Greece Russia
Services, % of GDP
68%
2024
57.5%
2024
Industry, % of GDP
15%
2024
30.7%
2024
Agriculture, forestry, and fishing, % of GDP
3.77%
2024
2.74%
2024
GNI, Atlas method
$236B
2024
$2.24T
2024
GNI per capita, PPP
$43,340
2024
$46,780
2024
Total reserves including gold
$15.2B
2024
$597B
2023
Total reserves ranking
67/177
2024
6/177
2023
Net foreign direct investment
-$4.52B
2024
$9.37B
2024
Net inflows of foreign direct investment
$6.74B
2024
-$9.35B
2024
Net outflows of foreign direct investment
$2.22B
2024
-$170M
2024
Servicing debt to the IMF, % of GNI n/a
2.65%
2024
Poverty at national poverty lines
18.8%
2021
12.1%
2020
Gross capital formation, % of GDP
18.3%
2024
26.3%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/greece/russia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1996, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
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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.