Olive and olive oil Productions is of immense socio-economic importance in the Mediterranean basin. In the European Union, there are estimated 2 million companies related to olive and olive oil Productionss. Approximately 80% of the World Productions of olive oil is produced by Spain, Greece and Italy. In Spain, the main World producer, there are more than 1900 olive oil mills, and 200 extraction mills producing 30% of World Productions and generating more than 2000 million Euros per year.
Olive Productions varies yearly, mainly because of fluctuating weather conditions. Olive Productions in the Mediterranean basin for 1998, from the FAOSTAT database, is shown below.