BUSINESS

German investments in Greece rise 3.5 bln euros

TAGS: Business, Economy

German investments in Greece rose by 3.5 billion euros last year and accounted for around 3 percent of the country's gross domestic product with an annual turnover of 7.7 billion euros, data from the Hellenic-German Chamber of Industry and Commerce published on Monday show.

According to the chamber, German firms also employed 27,000 workers in Greece last year.

“Productive investments are the only way for the country to turn a page,” the chamber's president, Michalis Mailis, was quoted by the Athens-Macedonian News Agency as saying on Monday.

German interest, the chamber said, seems to be concentrated in the sectors of agriculture and food, renewable energy sources, waste management and recycling, tourism, logistics, technology, organized retail and insurance.

“The German investor presence is boosted year by year, thus bolstering Greece's overall effort to keep the economy's pace of growth on a steady trajectory,” Mailis said.

Trade between Greece and Germany also saw a slight rise in 2018, reaching a value of around 8 billion euros, the chamber's figures show. 

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