Greece’s gross domestic product expanded 0.2 percent on quarter in the first quarter of 2019, recovering from a 0.1 percent contraction in the previous three-month period. Both household consumption (0.2 percent from -0.2 percent in Q4) and gross fixed capital formation (8.1 percent from -2.2 percent) rebounded whereas government spending declined 5 percent, after a 1.2 percent rise in the prior period. Also, net foreign demand contributed negatively to growth, as exports slumped 2.1 percent (from 1.4 percent in Q4) and imports surged 5 percent (from -7.6 percent in Q4). On a yearly basis, the economy advanced 1.3 percent, slowing from a downwardly revised 1.5 percent growth in the last quarter of 2018. GDP Growth Rate in Greece averaged 0.22 percent from 1995 until 2019, reaching an all time high of 3.20 percent in the first quarter of 2006 and a record low of -4.80 percent in the first quarter of 2009.

GDP Growth Rate in Greece is expected to be 0.30 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 0.30 in 12 months time. In the long-term, the Greece GDP Growth Rate is projected to trend around 0.40 percent in 2020, according to our econometric models.

Greece GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-03 09:00 AM GDP Growth Rate QoQ Q2 0.2% 0.9% 0.4%
2018-12-04 10:00 AM GDP Growth Rate QoQ Q3 1% 0.4% 0.3%
2019-03-07 10:00 AM GDP Growth Rate QoQ Q4 -0.1% 1% 0.5%
2019-06-04 09:00 AM GDP Growth Rate QoQ Q1 0.2% -0.1% 0.6%
2019-09-04 09:00 AM GDP Growth Rate QoQ Q2 0.2% 0.3%
2019-12-05 10:00 AM GDP Growth Rate QoQ Q3 0.4%


Greece GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.20 -0.10 3.20 -4.80 percent [+]
GDP Annual Growth Rate 1.30 1.50 6.80 -10.20 percent [+]
GDP 218.03 203.09 354.46 4.45 USD Billion [+]
GDP Constant Prices 43999.00 47811.90 64999.80 36552.30 EUR Million [+]
Gross Fixed Capital Formation 5488.00 4981.44 17204.14 4766.16 EUR Million [+]
GDP per capita 23558.10 23053.00 30054.90 6779.90 USD [+]
GDP per capita PPP 25140.70 24601.70 32074.00 20600.50 USD [+]
GDP From Agriculture 1722.49 1946.04 2120.17 1282.17 EUR Million [+]
GDP From Construction 1085.79 2381.65 4414.46 678.92 EUR Million [+]
GDP From Mining 4801.01 4931.90 7566.45 4306.65 EUR Million [+]
GDP From Public Administration 9016.11 9169.67 11582.86 7607.63 EUR Million [+]
GDP From Services 7499.95 8592.63 17098.91 6899.10 EUR Million [+]


Greece GDP Growth Rate

Greece has a service based economy and is one of the top tourist destinations in the world. Following the entry to the European Union in 1980 and the Euro Area in 2000, the Greek economy had been recording high rates of growth. Yet, as this expansion had been fueled mainly by the access to cheap credit and growth of public sector, in 2008 the budget deficit and sovereign debt reached unsustainable levels. As a result, Greece faced the worst crisis since 1974 and tough reforms enforced by the IMF and the European Commission as part of the bailout programme are taking place. 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 - actual data, historical chart and calendar of releases - was last updated on August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.20 -0.10 3.20 -4.80 1995 - 2019 percent Quarterly
Constant Prices 2010, SA




Country Last Previous
Indonesia 4.20 Jun/19
United States 2.10 Jun/19
China 1.60 Jun/19
India 1.60 Dec/18
Turkey 1.30 Mar/19
South Korea 1.10 Jun/19
Saudi Arabia 1.07 Dec/18
Switzerland 0.60 Mar/19
Netherlands 0.50 Jun/19
Spain 0.50 Jun/19
Australia 0.40 Mar/19
Japan 0.40 Jun/19
Euro Area 0.20 Jun/19
France 0.20 Jun/19
Canada 0.10 Mar/19
Mexico 0.10 Jun/19
Italy 0.00 Jun/19
Germany -0.10 Jun/19
Argentina -0.20 Mar/19
Brazil -0.20 Mar/19
United Kingdom -0.20 Jun/19
Russia -0.40 Mar/19
South Africa -3.20 Mar/19
Singapore -3.30 Jun/19


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