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The plastics industry in Greece: Contribution to the Greek economy, challenges and growth outlook
 
Category: Microeconomic Analysis
SubCategory: Others
Date: 10/12/2019
 
The main objectives of the study are to assess and highlight the contribution of the plastics industry to the Greek economy, to assess its competitiveness and the factors that influence it and to formulate proposals on initiatives in the direction of its sustainable growth. The plastics industry is one of the largest branches of manufacturing in Greece. In particular, the manufacture of plastic products is ranked fifth among the three-digit NACE Rev. 2 branches, accounting for 4.3% of the gross value added of domestic manufacturing. The total contribution (direct, indirect and induced) of the broader sector is estimated at €3 billion or 1.6% of the country's GDP in 2018. In employment terms, the total contribution is estimated at about 67,200 jobs or 1.8% of total employment in the country, while public revenues from taxes and contributions exceed €900 million. The biggest challenges for the industry are related to legislative initiatives on restricting the use of plastics and the shift of some consumers to alternative products. The sector's prospects depend to a great extent on its potential to participate actively and constructively in the transition to a circular economy model. The disappointing situation in the waste management system in the country is not conducive to this transition. Interventions are needed so that plastic waste can be transformed into a resource that can be utilised by the domestic plastics industry, maintaining and strengthening both its competitiveness and its contribution to the Greek economy.
 

 
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