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1 The leading independent forwarder in Greece Athens, Piraeus, Thessaloniki, Athens airport, Thessaloniki airport, Aspropyrgos The leading independent.

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Presentation on theme: "1 The leading independent forwarder in Greece Athens, Piraeus, Thessaloniki, Athens airport, Thessaloniki airport, Aspropyrgos The leading independent."— Presentation transcript:

1 1 The leading independent forwarder in Greece Athens, Piraeus, Thessaloniki, Athens airport, Thessaloniki airport, Aspropyrgos The leading independent forwarder in Greece Athens, Piraeus, Thessaloniki, Athens airport, Thessaloniki airport, Aspropyrgos Introduction & Portfolio of Services

2 2 Mission Statement PHOENIX is conscious of its clients as valuable stakeholders and therefore is focused on assisting them in reaching their goals. PHOENIX corporate culture is built around a deep conviction that our success depends on the measurable success of our customers which are in turn dependable upon: ▶ Efficiently designed supply chains that is our mission to streamline and manage for their benefit and in collaboration with diverse supply chain actors their benefit and in collaboration with diverse supply chain actors ▶ Logistics partners that maintain a global network of agents and are capable to provide a wide range of mainstream and specialty services. a wide range of mainstream and specialty services. ▶ Supply chains compliant with International standards, norms, regulations and best practices practices We recognize that our staff is our most valuable asset. Our dedicated and experienced employees use the latest technology, manage knowledge to exceed customer requirements and drive improvements in supply chains. The company provides global freight solutions across land, sea or air, aspiring to the highest possible standards in service delivery, enabling to procure new customers and build long term relationships to ensure stability and growth of the company. PHOENIX Goal Allow customers to be so confident in our ability to deliver their product that they can devote their energy towards the core aspects of their business. PHOENIX Commitment ▶ Listen to our customers and tailor services to meet their objectives. ▶ Commit to continuously evaluate, innovate, and upgrade technology and processes to eliminate error and achieve maximum efficiency. eliminate error and achieve maximum efficiency. ▶ Focus on being pro-active decision-makers to mitigate supply chain risks. Mission Statement PHOENIX is conscious of its clients as valuable stakeholders and therefore is focused on assisting them in reaching their goals. PHOENIX corporate culture is built around a deep conviction that our success depends on the measurable success of our customers which are in turn dependable upon: ▶ Efficiently designed supply chains that is our mission to streamline and manage for their benefit and in collaboration with diverse supply chain actors their benefit and in collaboration with diverse supply chain actors ▶ Logistics partners that maintain a global network of agents and are capable to provide a wide range of mainstream and specialty services. a wide range of mainstream and specialty services. ▶ Supply chains compliant with International standards, norms, regulations and best practices practices We recognize that our staff is our most valuable asset. Our dedicated and experienced employees use the latest technology, manage knowledge to exceed customer requirements and drive improvements in supply chains. The company provides global freight solutions across land, sea or air, aspiring to the highest possible standards in service delivery, enabling to procure new customers and build long term relationships to ensure stability and growth of the company. PHOENIX Goal Allow customers to be so confident in our ability to deliver their product that they can devote their energy towards the core aspects of their business. PHOENIX Commitment ▶ Listen to our customers and tailor services to meet their objectives. ▶ Commit to continuously evaluate, innovate, and upgrade technology and processes to eliminate error and achieve maximum efficiency. eliminate error and achieve maximum efficiency. ▶ Focus on being pro-active decision-makers to mitigate supply chain risks.

3 3 Office locations PHOENIX ECTS LIMITED Piraeus Head Office Akti Miaouli 85, PIRAEUS GREECE Tel Fax Web PHOENIX ECTS LIMITED Athens airport (ATH) 2 nd Km Koropi-Markopoulo Ave., Thesi Stamala, KOROPI GREECE Tel Fax Web PHOENIX ECTS LIMITED Thessaloniki port & airport (SKG) Thessaloniki Cargo Terminal, THESSALONIKI GREECE Tel Fax Web Office locations PHOENIX ECTS LIMITED Piraeus Head Office Akti Miaouli 85, PIRAEUS GREECE Tel Fax Web PHOENIX ECTS LIMITED Athens airport (ATH) 2 nd Km Koropi-Markopoulo Ave., Thesi Stamala, KOROPI GREECE Tel Fax Web PHOENIX ECTS LIMITED Thessaloniki port & airport (SKG) Thessaloniki Cargo Terminal, THESSALONIKI GREECE Tel Fax Web PHOENIX Cargo Terminals in Athens, Piraeus, Aspropyrgos, Thessaloniki

4 4 Ocean Freight Complete range of ocean and multi-modal freight services in the Greek, European and Overseas markets, for all types of containerized, unitized, loose and bulk cargo, on a door- to-door philosophy, through qualified compliance, experience, and expertise. PHOENIX global integrated network of agents is international in scope but on effective local reach. Freight and transport forwarding services are provided from any place in the world to any place, by bringing markets together in meeting opportunities and taking on challenges through successful global logistics. ▶ AEO Compliant services ▶ ISO-9001 Quality certified ▶ ISO Environmental Protection and Management ▶ Regular itineraries ▶ FCL & LCL ▶ Tank transport ▶ Import/Export ▶ NVOCC services ▶ Tailored updating and pre-notification ▶ Harmless/hazardous cargo ▶ Dry, bulk, liquid cargo ▶ Cargo insurance ▶ Collections/deliveries ▶ Letter of credit assistance ▶ Electronic documentation ▶ Port clearance ▶ Customs clearance ▶ Container terminal handling ▶ Warehouse handling ▶ Cargo surveys ▶ All types of containers ▶ Ro/Ro (roll on/roll off) ▶ Break bulk (conventional freight) Definitions: ▶ FCL/FCL (full container load, one shipper-one receiver) ▶ LCL/LCL (less container load, one shipper-one receiver) ▶ FCL/LCL (full container load, one shipper-several receivers) ▶ LCL/FCL (less container load, several shippers, one receiver) ▶ ISO container tanks SC (single compartment) ▶ ISO container tanks MC (multiple compartments) Conversions: ▶ 1 cbm = 1,000 kgs = 1 tonne Ocean Freight Complete range of ocean and multi-modal freight services in the Greek, European and Overseas markets, for all types of containerized, unitized, loose and bulk cargo, on a door- to-door philosophy, through qualified compliance, experience, and expertise. PHOENIX global integrated network of agents is international in scope but on effective local reach. Freight and transport forwarding services are provided from any place in the world to any place, by bringing markets together in meeting opportunities and taking on challenges through successful global logistics. ▶ AEO Compliant services ▶ ISO-9001 Quality certified ▶ ISO Environmental Protection and Management ▶ Regular itineraries ▶ FCL & LCL ▶ Tank transport ▶ Import/Export ▶ NVOCC services ▶ Tailored updating and pre-notification ▶ Harmless/hazardous cargo ▶ Dry, bulk, liquid cargo ▶ Cargo insurance ▶ Collections/deliveries ▶ Letter of credit assistance ▶ Electronic documentation ▶ Port clearance ▶ Customs clearance ▶ Container terminal handling ▶ Warehouse handling ▶ Cargo surveys ▶ All types of containers ▶ Ro/Ro (roll on/roll off) ▶ Break bulk (conventional freight) Definitions: ▶ FCL/FCL (full container load, one shipper-one receiver) ▶ LCL/LCL (less container load, one shipper-one receiver) ▶ FCL/LCL (full container load, one shipper-several receivers) ▶ LCL/FCL (less container load, several shippers, one receiver) ▶ ISO container tanks SC (single compartment) ▶ ISO container tanks MC (multiple compartments) Conversions: ▶ 1 cbm = 1,000 kgs = 1 tonne

5 5 Airfreight Complete range of air and multi-modal freight services in the Greek, European and Overseas markets, for all types of containerized, unitized, loose and bulk cargo, on a door-to-door philosophy, through qualified compliance, experience, and expertise. PHOENIX global integrated network of agents is international in scope but on effective local reach. Airfreight and transport forwarding services are provided from any place in the world to any place, by bringing markets together in meeting opportunities and taking on challenges through successful global logistics. ▶ AEO Compliant services ▶ ISO-9001 Quality certified ▶ ISO Environmental Protection and Management ▶ IATA Cargo Agent ▶ Regular itineraries, spot flights, Aircraft charters ▶ Offices serving ATH & SKG Airports ▶ Storage facilities off ATH & SKG Airports ▶ TIR CARNET facility ▶ Import/Export ▶ Tailored updating and pre-notification ▶ Harmless/hazardous cargo ▶ Temperature control goods ▶ Pharmaceuticals ▶ Exhibition & Performance Logistics ▶ Ships spare parts ▶ Cargo insurance ▶ Collections/deliveries ▶ Letter of credit assistance ▶ Electronic documentation ▶ Customs clearance ▶ Warehouse handling ▶ Cargo surveys ▶ Conversions: 1 cbm = 167 weight kgs 1 cbm = 167 weight kgsAirfreight Complete range of air and multi-modal freight services in the Greek, European and Overseas markets, for all types of containerized, unitized, loose and bulk cargo, on a door-to-door philosophy, through qualified compliance, experience, and expertise. PHOENIX global integrated network of agents is international in scope but on effective local reach. Airfreight and transport forwarding services are provided from any place in the world to any place, by bringing markets together in meeting opportunities and taking on challenges through successful global logistics. ▶ AEO Compliant services ▶ ISO-9001 Quality certified ▶ ISO Environmental Protection and Management ▶ IATA Cargo Agent ▶ Regular itineraries, spot flights, Aircraft charters ▶ Offices serving ATH & SKG Airports ▶ Storage facilities off ATH & SKG Airports ▶ TIR CARNET facility ▶ Import/Export ▶ Tailored updating and pre-notification ▶ Harmless/hazardous cargo ▶ Temperature control goods ▶ Pharmaceuticals ▶ Exhibition & Performance Logistics ▶ Ships spare parts ▶ Cargo insurance ▶ Collections/deliveries ▶ Letter of credit assistance ▶ Electronic documentation ▶ Customs clearance ▶ Warehouse handling ▶ Cargo surveys ▶ Conversions: 1 cbm = 167 weight kgs 1 cbm = 167 weight kgs

6 6 European & Middle East Road Transport Complete range of road transport services in the Greek and European markets, including European cross trade transport, for all types of unitized and loose cargo, on a door-to-door philosophy, through qualified compliance, experience, and expertise. PHOENIX European integrated network of agents is international in scope but on effective local reach. Airfreight and transport forwarding services are provided from any place in Europe and the Middle East to any place, by bringing markets together in meeting opportunities and taking on challenges through successful global logistics. ▶ AEO Compliant services ▶ ISO-9001 Quality Certified ▶ ISO Environmental Protection and Management ▶ Regular itineraries ▶ Weekly departures ▶ European and Overseas transit cargo ▶ FTL/PTL/LTL services ▶ OOG and Overweight transport ▶ Customized solutions ▶ Dedicated service ▶ Import/Export/Transit ▶ Tailored updating and pre-notification ▶ Harmless/ADR cargo ▶ CMR insurance ▶ Consolidation warehouses ▶ Effective stowage ▶ Collections/deliveries ▶ Direct deliveries ▶ Cargo insurance ▶ Sorting/packing/re-packing ▶ Electronic documentation ▶ Cargo surveys Definitions: ▶ Full load: Load occupying all the legally permissible weight on the trailer, or all the volume of the trailer, or all the floor of the trailer. or all the volume of the trailer, or all the floor of the trailer. ▶ Part load: Load over 7 europallet positions, or 3 loading metres, or 15 cbm, or 5,000 weight kilogramms ▶ Groupage: Load less by weight, measurement or less loading metres than a part load. Conversions: ▶ 1 loading metre = 1,750 kilograms = 6 cbm ▶ 1 cbm = 333 grs European & Middle East Road Transport Complete range of road transport services in the Greek and European markets, including European cross trade transport, for all types of unitized and loose cargo, on a door-to-door philosophy, through qualified compliance, experience, and expertise. PHOENIX European integrated network of agents is international in scope but on effective local reach. Airfreight and transport forwarding services are provided from any place in Europe and the Middle East to any place, by bringing markets together in meeting opportunities and taking on challenges through successful global logistics. ▶ AEO Compliant services ▶ ISO-9001 Quality Certified ▶ ISO Environmental Protection and Management ▶ Regular itineraries ▶ Weekly departures ▶ European and Overseas transit cargo ▶ FTL/PTL/LTL services ▶ OOG and Overweight transport ▶ Customized solutions ▶ Dedicated service ▶ Import/Export/Transit ▶ Tailored updating and pre-notification ▶ Harmless/ADR cargo ▶ CMR insurance ▶ Consolidation warehouses ▶ Effective stowage ▶ Collections/deliveries ▶ Direct deliveries ▶ Cargo insurance ▶ Sorting/packing/re-packing ▶ Electronic documentation ▶ Cargo surveys Definitions: ▶ Full load: Load occupying all the legally permissible weight on the trailer, or all the volume of the trailer, or all the floor of the trailer. or all the volume of the trailer, or all the floor of the trailer. ▶ Part load: Load over 7 europallet positions, or 3 loading metres, or 15 cbm, or 5,000 weight kilogramms ▶ Groupage: Load less by weight, measurement or less loading metres than a part load. Conversions: ▶ 1 loading metre = 1,750 kilograms = 6 cbm ▶ 1 cbm = 333 grs

7 7 Tank Transport Complete range of container-tank and road-tank transport services in the Greek and International markets, for carriage of liquid cargo (chemicals, gas, food grade) on a door-to-door philosophy, through qualified compliance, experience, and expertise. PHOENIX integrated network of agents is international in scope but on effective local reach. Tank transport services are provided from any place in Europe and international markets to any place, by bringing markets together in meeting opportunities and taking on challenges through successful global logistics. ▶ AEO Compliant services ▶ ISO-9001 Quality certified ▶ ISO Environmental Protection and Management ▶ Regular itineraries ▶ FCL 20’ ISO Container tanks SC ▶ LCL 20’ ISO Container tanks MC ▶ Special Container tanks ▶ Import/Export ▶ Short sea, Deep sea and railway service ▶ Tailored updating and pre-notification ▶ Harmless/hazardous cargo ▶ Dry, bulk, liquid cargo ▶ Cargo insurance ▶ Collections/deliveries ▶ Letter of credit assistance ▶ Electronic documentation ▶ Port clearance ▶ Customs clearance ▶ Container terminal handling ▶ Cargo surveys ▶ All types of containers ▶ Cargo surveys Definitions: ▶ ISO Container tank 20’ SC: Single Compartment, 24,000 litres capacity ▶ ISO Container tank 20’ MC: Multiple Compartments, 24,000 litres overall capacity ▶ Special Container tank: tank varying in capacity between 21,000 and 31,000 litres Tank Transport Complete range of container-tank and road-tank transport services in the Greek and International markets, for carriage of liquid cargo (chemicals, gas, food grade) on a door-to-door philosophy, through qualified compliance, experience, and expertise. PHOENIX integrated network of agents is international in scope but on effective local reach. Tank transport services are provided from any place in Europe and international markets to any place, by bringing markets together in meeting opportunities and taking on challenges through successful global logistics. ▶ AEO Compliant services ▶ ISO-9001 Quality certified ▶ ISO Environmental Protection and Management ▶ Regular itineraries ▶ FCL 20’ ISO Container tanks SC ▶ LCL 20’ ISO Container tanks MC ▶ Special Container tanks ▶ Import/Export ▶ Short sea, Deep sea and railway service ▶ Tailored updating and pre-notification ▶ Harmless/hazardous cargo ▶ Dry, bulk, liquid cargo ▶ Cargo insurance ▶ Collections/deliveries ▶ Letter of credit assistance ▶ Electronic documentation ▶ Port clearance ▶ Customs clearance ▶ Container terminal handling ▶ Cargo surveys ▶ All types of containers ▶ Cargo surveys Definitions: ▶ ISO Container tank 20’ SC: Single Compartment, 24,000 litres capacity ▶ ISO Container tank 20’ MC: Multiple Compartments, 24,000 litres overall capacity ▶ Special Container tank: tank varying in capacity between 21,000 and 31,000 litres

8 8 Project Transport Project transport services in the Greek, European and Overseas markets, including global cross trades, for all types of outsized dimensions, heavy weight, unitized, loose and bulk cargo on a door-to-door philosophy, through qualified experience and expertise. PHOENIX global integrated network of agents is international in scope but on effective local reach. Freight and transport forwarding services are provided from any place in the world to any place, by bringing markets together in meeting opportunities and taking on challenges through successful global logistics. Detailed checklists used to define the project in compliance with statutory regulations. Checklists provide for alternatives in routing, scheduling, different transport modes, ports, airports and railhead terminals, handling, storage requirements, collections and deliveries of components, requiring packaging material, availability and suitability of intended transport equipment, in a process of continuous feedback from customers and suppliers. ▶ AEO Compliant services ▶ ISO-9001 Quality certified ▶ ISO Environmental Protection and Management ▶ Identification of the project ▶ Detailed specifications ▶ Definition of the project ▶ Feasibility study ▶ Project Planning ▶ Implementation ▶ Evaluation ▶ Transport support and maintenance Benefits from the PHOENIX project transport approach: ▶ Clarity and transparency to avert misunderstandings ▶ Completeness to identify assumptions that have been contradictory ▶ Detailed analysis to expose necessary technical and practical details ▶ Budget control to minimize cost Project Transport Project transport services in the Greek, European and Overseas markets, including global cross trades, for all types of outsized dimensions, heavy weight, unitized, loose and bulk cargo on a door-to-door philosophy, through qualified experience and expertise. PHOENIX global integrated network of agents is international in scope but on effective local reach. Freight and transport forwarding services are provided from any place in the world to any place, by bringing markets together in meeting opportunities and taking on challenges through successful global logistics. Detailed checklists used to define the project in compliance with statutory regulations. Checklists provide for alternatives in routing, scheduling, different transport modes, ports, airports and railhead terminals, handling, storage requirements, collections and deliveries of components, requiring packaging material, availability and suitability of intended transport equipment, in a process of continuous feedback from customers and suppliers. ▶ AEO Compliant services ▶ ISO-9001 Quality certified ▶ ISO Environmental Protection and Management ▶ Identification of the project ▶ Detailed specifications ▶ Definition of the project ▶ Feasibility study ▶ Project Planning ▶ Implementation ▶ Evaluation ▶ Transport support and maintenance Benefits from the PHOENIX project transport approach: ▶ Clarity and transparency to avert misunderstandings ▶ Completeness to identify assumptions that have been contradictory ▶ Detailed analysis to expose necessary technical and practical details ▶ Budget control to minimize cost

9 9 Extended Service Specialization Niche Cargo Specialties Pharmaceuticals Ongoing expertise on EU regulations, directives and procedures for the cariage of Pharmaceutical products. Temperature controlled transportation services, carriage documentation and door to door delivery to mainland and island destinations. experience, and expertise. Ship spare parts Greece is a great maritime nation and Greek ship-owners maintain the world’s largest private fleet of ocean vessels. For this reason PHOENIX holds many years of experience in delivering ship spare parts on time, collecting them from anyplace and delivering to any designated place or port in the world. Exhibition and Performance Logistics Ideal combination of transport modes and accurate on time door-to-door distribution to exhibition centres or performance sites by effectively managing storage, unpacking, sorting and repacking. Assurance of close monitoring of the goods throughout the whole process of importation, exhibition/performance and re-export. Dangerous goods Ongoing specialization in all DG classes (Explosives, Gases, Flammable Liquids, Flammable Solids, Oxidizing Substances, Toxic, Radioactive Materials, Corrosive Substances, Miscellaneous), in compliance with EU, International and IATA regulations. Extended Service Specialization Niche Cargo Specialties Pharmaceuticals Ongoing expertise on EU regulations, directives and procedures for the cariage of Pharmaceutical products. Temperature controlled transportation services, carriage documentation and door to door delivery to mainland and island destinations. experience, and expertise. Ship spare parts Greece is a great maritime nation and Greek ship-owners maintain the world’s largest private fleet of ocean vessels. For this reason PHOENIX holds many years of experience in delivering ship spare parts on time, collecting them from anyplace and delivering to any designated place or port in the world. Exhibition and Performance Logistics Ideal combination of transport modes and accurate on time door-to-door distribution to exhibition centres or performance sites by effectively managing storage, unpacking, sorting and repacking. Assurance of close monitoring of the goods throughout the whole process of importation, exhibition/performance and re-export. Dangerous goods Ongoing specialization in all DG classes (Explosives, Gases, Flammable Liquids, Flammable Solids, Oxidizing Substances, Toxic, Radioactive Materials, Corrosive Substances, Miscellaneous), in compliance with EU, International and IATA regulations.

10 10 Logistics (3PL) Responding to our customers’ requests and to our global integrated network of agents, third party outbound and inbound logistics (3PL) services are provided through PHOENIX warehouses. Stock turn and stock cover indices are reported on the basis of provided annual demand forecasts, grouped items are classified on basis of ABC analysis on criteria of monetary unit value and annual usage, whilst safety stocks are monitored for 90%, 95% and 99% “on shelf availability”. The vast majority of the cargo receiving logistics services represents finished goods and very small proportion raw materials. Physical distribution is performed to the metropolitan areas of Athens/Piraeus and Thessaloniki, as well as to other major Greek cities, industrial parks and trade zones. Physical distribution is performed to the metropolitan areas of Athens/Piraeus and Thessaloniki, as well as to other major Greek cities, industrial parks and trade zones. ▶ AEO Compliant services ▶ ISO-9001 Quality certified ▶ ISO Environmental Protection and Management ▶ Import service ▶ Export service ▶ Handling ▶ Storage short term ▶ Storage long term ▶ Counting ▶ Tallying ▶ Grouping & consolidating ▶ Packaging ▶ Labeling ▶ Palletizing & de-palletizing ▶ Sorting by product, order, lot, ageing list ▶ Customized reporting ▶ Order picking ▶ Order assembly ▶ Dispatch ▶ Cargo insurance ▶ Security service ▶ Electronic documentation ▶ Physical distribution Logistics (3PL) Responding to our customers’ requests and to our global integrated network of agents, third party outbound and inbound logistics (3PL) services are provided through PHOENIX warehouses. Stock turn and stock cover indices are reported on the basis of provided annual demand forecasts, grouped items are classified on basis of ABC analysis on criteria of monetary unit value and annual usage, whilst safety stocks are monitored for 90%, 95% and 99% “on shelf availability”. The vast majority of the cargo receiving logistics services represents finished goods and very small proportion raw materials. Physical distribution is performed to the metropolitan areas of Athens/Piraeus and Thessaloniki, as well as to other major Greek cities, industrial parks and trade zones. Physical distribution is performed to the metropolitan areas of Athens/Piraeus and Thessaloniki, as well as to other major Greek cities, industrial parks and trade zones. ▶ AEO Compliant services ▶ ISO-9001 Quality certified ▶ ISO Environmental Protection and Management ▶ Import service ▶ Export service ▶ Handling ▶ Storage short term ▶ Storage long term ▶ Counting ▶ Tallying ▶ Grouping & consolidating ▶ Packaging ▶ Labeling ▶ Palletizing & de-palletizing ▶ Sorting by product, order, lot, ageing list ▶ Customized reporting ▶ Order picking ▶ Order assembly ▶ Dispatch ▶ Cargo insurance ▶ Security service ▶ Electronic documentation ▶ Physical distribution

11 11 Extensive service regions PHOENIX service also extends to the Balkan countries (Albania, Kosovo, FYRO Macedonia, Bulgaria, Serbia and Montenegro). Greece due to it’s geographic position is a natural gateway to access the Balkan markets. The most common practice for serving such markets from the East and West is to ship the cargo to the port of Thessaloniki and then arrange for road or rail transportation to the Balkan country of interest. Daily service on-carriage in transit to adjacent Balkan countries offered. Extensive service regions PHOENIX service also extends to the Balkan countries (Albania, Kosovo, FYRO Macedonia, Bulgaria, Serbia and Montenegro). Greece due to it’s geographic position is a natural gateway to access the Balkan markets. The most common practice for serving such markets from the East and West is to ship the cargo to the port of Thessaloniki and then arrange for road or rail transportation to the Balkan country of interest. Daily service on-carriage in transit to adjacent Balkan countries offered. ▶ Ocean freight route from the Americas ▶ Ocean freight route from India, China and Far East ▶ PHOENIX road carriage extensive service ▶ Ocean freight route from the Americas ▶ Ocean freight route from India, China and Far East ▶ PHOENIX road carriage extensive service

12 12 Greece and its Economy The economy of Greece is the 42 nd or 45 th largest in the world at US$ 249 billion or US$ 278 billion by nominal gross domestic product or purchasing power parity respectively, according to World Bank statistics for the year As of 2012, Greece is the thirteenth largest economy in the 27-member European Union. In terms of per capita income, Greece is ranked 36th or 40th in the world at $22,055 and $24,667 for nominal GDP and purchasing power parity respectively. A developed country, the economy of Greece mainly revolves around the service sector (85.0%) and industry (12.0%), while agriculture makes up 3.0% of the national economic output. Important Greek industries include tourism (with 17 million international tourists in 2013, it is ranked as the 7th most visited country in the European Union and 16th in the world by the United Nations World Tourism Organization and merchant shipping (at 16.1% of the world's total capacity, the Greek merchant marine is the largest in the world), while the country is also a considerable agricultural producer (including fisheries) within the union. With an economy larger than all the Balkan economies combined, Greece is the largest economy in the Balkans, and an important regional investor. Since the turn of the millennium, Greece saw high levels of GDP growth above the Eurozone average, peaking at 5.9% in 2003 and 5.5% in The subsequent Great Recession and Greek government-debt crisis, a central focus of the wider Eurozone crisis, plunged the economy into a sharp downturn, with nominal GDP growth rates of −0.9% in 2009, −3.9% in 2010, −6.1% in 2011 and −7.1% in 2012 and real GDP growth rates of -0.2% in 2008, -3.1% in 2009, -4.9% in 2010, -7.1% in 2011 and -6.4% in In 2012, the country's public debt reached € billion (170.3% of nominal GDP). After negotiating the biggest debt restructuring in history with the private sector, Greece reduced its sovereign debt burden to €280.4 billion (136.5% of GDP) in the first quarter of Unemployment in 2013 was over 28% and between 2009 and 2013 it is estimated the country lost 25% of its GDP. Greece and its Economy The economy of Greece is the 42 nd or 45 th largest in the world at US$ 249 billion or US$ 278 billion by nominal gross domestic product or purchasing power parity respectively, according to World Bank statistics for the year As of 2012, Greece is the thirteenth largest economy in the 27-member European Union. In terms of per capita income, Greece is ranked 36th or 40th in the world at $22,055 and $24,667 for nominal GDP and purchasing power parity respectively. A developed country, the economy of Greece mainly revolves around the service sector (85.0%) and industry (12.0%), while agriculture makes up 3.0% of the national economic output. Important Greek industries include tourism (with 17 million international tourists in 2013, it is ranked as the 7th most visited country in the European Union and 16th in the world by the United Nations World Tourism Organization and merchant shipping (at 16.1% of the world's total capacity, the Greek merchant marine is the largest in the world), while the country is also a considerable agricultural producer (including fisheries) within the union. With an economy larger than all the Balkan economies combined, Greece is the largest economy in the Balkans, and an important regional investor. Since the turn of the millennium, Greece saw high levels of GDP growth above the Eurozone average, peaking at 5.9% in 2003 and 5.5% in The subsequent Great Recession and Greek government-debt crisis, a central focus of the wider Eurozone crisis, plunged the economy into a sharp downturn, with nominal GDP growth rates of −0.9% in 2009, −3.9% in 2010, −6.1% in 2011 and −7.1% in 2012 and real GDP growth rates of -0.2% in 2008, -3.1% in 2009, -4.9% in 2010, -7.1% in 2011 and -6.4% in In 2012, the country's public debt reached € billion (170.3% of nominal GDP). After negotiating the biggest debt restructuring in history with the private sector, Greece reduced its sovereign debt burden to €280.4 billion (136.5% of GDP) in the first quarter of Unemployment in 2013 was over 28% and between 2009 and 2013 it is estimated the country lost 25% of its GDP.


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