Greece's economy shrank 0.9 percent year-on-year in the first quarter of 2020, following a 1 percent expansion in the previous month. It was the sharpest contraction since the second quarter of 2016, amid the coronavirus crisis.

GDP Annual Growth Rate in Greece averaged 0.92 percent from 1996 until 2020, reaching an all time high of 6.80 percent in the fourth quarter of 2003 and a record low of -10.30 percent in the first quarter of 2011. This page provides the latest reported value for - Greece GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Greece GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.

GDP Annual Growth Rate in Greece is expected to be -12.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Greece to stand at -2.60 in 12 months time. In the long-term, the Greece GDP Annual Growth Rate is projected to trend around 6.20 percent in 2021 and 2.20 percent in 2022, according to our econometric models.

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Greece GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.90 1.00 6.80 -10.30 1996 - 2020 percent Quarterly
Constant Prices 2010, SA


Calendar GMT Actual Previous Consensus TEForecast
2019-09-04 09:00 AM Q2 1.9% 1.1% 1.5%
2019-12-05 10:00 AM Q3 2.3% 2.8% 2.1%
2020-03-06 10:00 AM Q4 1% 2.3% 2.1%
2020-06-04 09:00 AM Q1 -0.9% 1% -2.8%
2020-09-04 09:00 AM Q2 -0.9% -12.5%
2020-12-04 10:00 AM Q3 -9.7%


Greece GDP Annual Growth Rate
In Greece, household consumption is the main component of GDP and accounts for 72 percent of its total use, followed by government expenditure (20 percent) and gross fixed capital formation (12 percent). Exports of goods and services account for 33 percent of GDP while imports account for 35 percent, subtracting 2 percent of total GDP.