This chapter analyses one of the most significant problems of the Greek economy, that is the low competitiveness it faces. The main purpose of this chapter is to present a comparative analysis of the competitiveness of the Greek economy over time by examining the economic and competitiveness indicators. The study focuses on the factors that determine price competitiveness, as well as the factors related to so-called structural competitiveness. Finally, the study investigates whether and to what extent the evolution of the real weighted exchange rate contributed to the increase in the export performance of the Greek economy or, on the contrary, to the deterioration of its imbalances.