{
  "title": "External Sector Dynamics and Firms’ Competitiveness in Greece",
  "publication": "Selected Issues Papers, July 27, 2026",
  "sourceUrl": "https://www.imf.org/en/publications/selected-issues-papers/issues/2026/07/27/external-sector-dynamics-and-firms-competitiveness-in-greece-578161",
  "canonical": "https://www.imf.org/en/publications/selected-issues-papers/issues/2026/07/27/external-sector-dynamics-and-firms-competitiveness-in-greece-578161",
  "overlayPath": "/en/publications/selected-issues-papers/issues/2026/07/27/external-sector-dynamics-and-firms-competitiveness-in-greece-578161/index.md",
  "summary": "Greece’s external sector has undergone significant transformation over the past decades. Pre-crisis imbalances—including large fiscal deficits, household overinvestment, and elevated labor costs—have largely been corrected.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Greece’s external sector has undergone significant transformation over the past decades.\n- Pre-crisis imbalances—including large fiscal deficits, household overinvestment, and elevated labor costs—have largely been corrected.\n- The current account deficit remains sizable, reflecting persistent challenges such as subdued private saving, low value added in exporting sectors, and high external debt.\n- Advancing supply-side reforms would help strengthen international competitiveness and raise productivity, supporting higher domestic value-added and saving.\n- Maintaining prudent fiscal policy remains essential to further reduce external debt."
    },
    {
      "heading": "Key findings and sector dynamics",
      "content": "- Pre-crisis drivers of imbalance corrected: large fiscal deficits, household overinvestment, elevated labor costs.\n- Persistent challenges:\n  - Subdued private saving.\n  - Low value added in exporting sectors.\n  - High external debt.\n- Policy levers to improve external sector outcomes:\n  - Supply-side reforms to strengthen international competitiveness and raise productivity.\n  - Fiscal prudence to reduce external debt over time."
    },
    {
      "heading": "Policy recommendations",
      "content": "- Advance supply-side reforms to:\n  - Strengthen international competitiveness.\n  - Raise productivity.\n  - Support higher domestic value-added and saving.\n- Maintain prudent fiscal policy to further reduce external debt."
    },
    {
      "heading": "Publication and metadata",
      "content": "- Author: Tomohide Mineyama\n- Publication date: July 27, 2026\n- Series: Selected Issues Paper No. 2026/071\n- Issue: 071\n- Volume: 2026\n- Pages: 22\n- DOI: https://doi.org/10.5089/9798229056014.018\n- Stock No: SIPEA2026071\n- ISBN: 9798229056014\n- ISSN: 2958-7875\n- Format citation (Chicago): Tomohide Mineyama. \"External Sector Dynamics and Firms’ Competitiveness in Greece\", Selected Issues Papers 2026, 071 (2026), accessed 9/18/2026, https://doi.org/10.5089/9798229056014.018\n\nSource: IMF Selected Issues Paper — \"External Sector Dynamics and Firms’ Competitiveness in Greece\" (July 27, 2026).\n\n---\n\n Content in this bundle\n\n- Sipea2026071\n  - Sipea2026071 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Sipea2026071 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/selected-issues-papers/issues/2026/07/27/external-sector-dynamics-and-firms-competitiveness-in-greece-578161"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/selected-issues-papers/issues/2026/07/27/external-sector-dynamics-and-firms-competitiveness-in-greece-578161/index.md)",
    "[Structured JSON version](/en/publications/selected-issues-papers/issues/2026/07/27/external-sector-dynamics-and-firms-competitiveness-in-greece-578161/index.json)",
    "[Bundle manifest](/en/publications/selected-issues-papers/issues/2026/07/27/external-sector-dynamics-and-firms-competitiveness-in-greece-578161/bundle-manifest.json)",
    "Authors: Tomohide Mineyama",
    "Published: July 27, 2026",
    "Series: Selected Issues Papers",
    "DOI: https://doi.org/10.5089/9798229056014.018",
    "Greece’s external sector has undergone significant transformation over the past decades.",
    "Pre-crisis imbalances—including large fiscal deficits, household overinvestment, and elevated labor costs—have largely been corrected.",
    "The current account deficit remains sizable, reflecting persistent challenges such as subdued private saving, low value added in exporting sectors, and high external debt.",
    "Advancing supply-side reforms would help strengthen international competitiveness and raise productivity, supporting higher domestic value-added and saving.",
    "Maintaining prudent fiscal policy remains essential to further reduce external debt.",
    "Pre-crisis drivers of imbalance corrected: large fiscal deficits, household overinvestment, elevated labor costs.",
    "Persistent challenges:",
    "Policy levers to improve external sector outcomes:",
    "Advance supply-side reforms to:",
    "Maintain prudent fiscal policy to further reduce external debt.",
    "Author: Tomohide Mineyama",
    "Publication date: July 27, 2026",
    "Series: Selected Issues Paper No. 2026/071",
    "Issue: 071",
    "Volume: 2026",
    "Pages: 22",
    "DOI: https://doi.org/10.5089/9798229056014.018",
    "Stock No: SIPEA2026071",
    "ISBN: 9798229056014",
    "ISSN: 2958-7875",
    "Format citation (Chicago): Tomohide Mineyama. \"External Sector Dynamics and Firms’ Competitiveness in Greece\", Selected Issues Papers 2026, 071 (2026), accessed 9/18/2026, https://doi.org/10.5089/9798229056014.018",
    "**Sipea2026071**"
  ],
  "related": [
    {
      "title": "Sipea2026071",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/selected-issues-papers/2026/english/sipea2026071.pdf",
      "summary": {
        "path": "/-/media/files/publications/selected-issues-papers/2026/english/sipea2026071.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/selected-issues-papers/2026/english/sipea2026071.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/selected-issues-papers/issues/2026/07/27/external-sector-dynamics-and-firms-competitiveness-in-greece-578161/index.md",
    "json": "/en/publications/selected-issues-papers/issues/2026/07/27/external-sector-dynamics-and-firms-competitiveness-in-greece-578161/index.json",
    "bundleManifest": "/en/publications/selected-issues-papers/issues/2026/07/27/external-sector-dynamics-and-firms-competitiveness-in-greece-578161/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-20T22:48:52.475Z"
}