Greece's gross domestic product grew 2.7 percent on quarter in the three months to December 2020, following a revised 3.1 percent expansion in the previous period and a record 13.4 percent slump in the second quarter. Gross fixed capital formation advanced 1.0 percent (vs -0.3 percent in Q3) and government spending rose 1.9 percent (vs 1.1 percent in Q3). In addition, net external demand contributed positively to the GDP, as exports jumped 31.8 percent and imports dropped 3.6 percent. By contrast, household consumption fell 2.2 percent, after a 13.3 percent growth in the third quarter. On a yearly basis, the Greek economy shrank 7.9 percent, easing from a 10.5 percent contraction in the previous three-month period. source: National Statistical Service of Greece
GDP Growth Rate in Greece averaged 0.13 percent from 1995 until 2020, reaching an all time high of 3.30 percent in the first quarter of 2006 and a record low of -13.40 percent in the second quarter of 2020. This page provides the latest reported value for - Greece GDP Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Greece GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
GDP Growth Rate in Greece is expected to be -1.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Greece to stand at 1.10 in 12 months time. In the long-term, the Greece GDP Growth Rate is projected to trend around 0.50 percent in 2022 and 0.40 percent in 2023, according to our econometric models.