Chemical products-Pharmaceuticals-Cosmetics

Chemical Products

The Chemical Industry has a strong presence in Greece, with over 1.000 companies being active in this sector, with the majority being located in Attica and Central Macedonia. This sector has a large range of products, such as petrochemicals, fertilizers, synthetic fibres, plastics and paints, and thus influences the activity and development of intermediate and finished products of technologically more advanced industries of the economy. Of equal importance is also the production of consumer chemicals. The export of chemical products is one of the most important in Greece, ranking in 2016 4th with 5.1% of the total value of Greek exports. About 2/3 of Greek exports of chemicals and products go to European Union (EU) countries.

 

Pharmaceuticals

One of the most significant sectors, who also contribute significantly to the development of the National Economy, is the Greek Pharmaceutical Industry. This sector is employing 53.000 people, including many sectors related to the Pharmaceutical Industry, as they are also indirectly supported. According to the Foundation For Economic & Industrial Research, every 1 Euro spent on Greek medicine, strengthens GDP by 3.42 Euros, making this multiplier one of the highest in comparison to other traditional powerful sectors of the economy, such as tourism and maritime.

In addition to the contribution to the national economy, this industry also has strong exporting activity. According to the Panhellenic Association of the Pharmaceutical Industry, Greek medicines are constantly evolving in collaboration with domestic and foreign Universities and Research Institutes. Greek pharmaceuticals are exported to more than 85 countries, including the United States of America, Canada, Australia and EU countries. Pharmaceutical exports have increased in recent years, ranking in 2018 second among the 100 most important exportable products in Greece. Despite the hardships of the pandemic of Covid-19, the pharmaceutical industry was one the sectors that hasn't seen their production and exports plummet.

 

Cosmetics

The cosmetics industry plays one of the most important roles in improving the quality of life and the products of this sector are essential for health and wellness. Every year, the cosmetics industry launches thousands of products such as deodorants, shampoos, soaps, toothpastes and sunscreens, with a new improved composition. The industry remains competitive and improves the efficiency and safety standards of its products for humans by innovating continuously. In 2019 the exports of the sector rose in comparison to 2018, with makeup products, skin care products and sunscreens at the top of the list. According to data from the Hellenic Statistical Authority (ELSTAT), the value of exports in cosmetics amounted to 289 million Euros in 2019, 257 million Euros in 2018 and 241 million Euros in 2017.

Greek companies: