The rebalancing of the economy towards the internationally tradable sectors was facilitated by increases in the relative prices and net profit margins of tradable goods and services. It is worth underlining the fact that, in 2017, the estimated net profit margins of tradables were three times higher than those of non-tradables.
Thanks to improved economic conditions and to the reforms implemented, the unemployment rate, though still high, fell to 18.7% in the fourth quarter of 2018, from 27.8% at the end of 2013. 3. The Greek economy continues to face major challenges Despite the progress made so far, the Greek economy continues to face major challenges and crisis-related legacies.