HistoryCivilizationTravellingIn FocusGallery
HistoryContemporary MacedoniaThe post-war periodEconomy (1949-1960)

Economy (1949-1960)

The transformation of the economy
Industrial development

Images on this page

Thessaloniki International Trade Fair
View of the buildings of the Thessaloniki International Trade Fair, which has grown into one of the largest exhibition centres in Greece in the postwar period, 1926-1994.

Breakdown of the Gross Domestic Product
Diagram showing the evolution of the breakdown of the Gross Domestic Product of Macedonia, by the main sectors of production, 1913-1974.

PreviousUpNext The transformation of the economy (1960-1994)

Thessaloniki International Trade Fair

Technological progress and industrialisation, and the consequent fall in demand for labour, brought about the continuation of emigration until the 1970s; as a result, for some years there even was a decline in Macedonia's population.

Another problem that had become evident since the 1950s involved tobacco exports, as the oriental varieties grown in Greek-Macedonia were gradually ousted from the world market by American ones. Tobacco has now been supplanted by other produce, such as fruit, as the region's main export.

Thus, despite a substantial increase in agricultural production, the development of industry and services -- particularly after Greece's entry in the EEC in 1981 -- transformed the country's economy, especially that of Greek-Macedonia, which now acquired the characteristics of the economy of Western Europe.

Since 1991, however, the on-going Yugoslav crisis has disrupted land communications between Greece and Western Europe, posing serious problems for Greek-Macedonia's exports.

Breakdown of the Gross Domestic Product

See Also
History - Economy and Society (1914-1923)
The economy in the inter-war period
Industrial development (1957-1994)

Macedonian Heritage
Content courtesy Ekdotike Athenon S.A.