ATHENS: European Commission study revealed that the organized crime in Greece generates a little under €3.6 billion per year, with contraband products playing a major part.
In Greece, organized crime generates €3.6 billion each year, corresponding to 1.6 percent in GDP (in 2010). Cigarette smuggling in Greece brings €455 million per year, as tobacco consumption is at 40 percent while tobacco products carry 87.5 percent taxation, the highest in Europe.
Drug trafficking in Greece brings organized crime much less in revenues: €54 million per year in heroin sales, €35 million in ecstasy sales, €28 million from cannabis and €16 million from cocaine. Despite the fact that Greece is a central transit point, illegal narcotics sales are low in proportion.
However, the biggest profits crime organizations come from counterfeit products, estimated at €1.5 billion. Close behind, come bootleg or smuggled products with a little under €1.5 billion in lost value added tax each year.
The overall figures on illicit revenues may be very conservative since some illicit markets, such as human trafficking, extortion, illegal gambling and some types of fraud lack estimates for most of the 28 European Union member states.
