Zimbabwe and Greece economy compared. Here are the facts

This week, more and more the media is mentioning Zimbabwe’s name when discussing Greece’s economic problems and the debt crisis that’s risking it being forced out of the Eurozone. Yesterday’s Bloomberg headline had:

Greece Misses $1.7 Billion IMF Payment, Joining Zimbabwe’s Ranks

For many, it has raised the question: How exactly do the two economies compare? Which is (or has seen) a worse crisis? Here are some facts we put together:

 

1. Population.

Both are very small countries with Zimbabwe slightly larger.

greece-zim-population

2. Unemployment Percentage:

Greece: 24.6%
Zimbabwe: Around 80%

zimbabwe-vendors

3. Corruption

Greece: Ranked  69/175 globally.
Zimbabwe: Ranked  156/179 globally.

greece-zimbabwe-corruption-index

4. GDP

Measures a country’s economic performance. Calculated by either adding up everyone’s income during the period or by adding the value of all final goods and services produced in the country during the year.

greece-zimbabwe-gdp

 

5. GDP Per Capita

Used as an indicator of standard of living, with higher per capita GDP being interpreted as having a higher standard of living. Greece’s GDP per capita is larger by a huge margin.
greece-zim-gdp-per-capita

6. GDP Growth

Generally the growth rate of the country over the years. Zimbabwe has generally grown faster than Greece in recent years, but this was the case in the period between 1997 and 2009.
gdpgrowthrate

 

 

All figures are 2013 figures and as supplied by the World Bank.
images credit: oregonlive and msszainab

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