Greece's economy advanced by 1.2% on quarter in the second quarter of 2022, decelerating from an upwardly revised 2.9% expansion in the previous period. Household consumption slowed (2.2% vs 2.7% in Q1) and fixed investment decreased (-1% vs 3.7%). Additionally, net external demand contributed negatively to the GDP, as exports (2.5% vs -2%) rose less than imports (5.8% vs -4.9%). Meanwhile, government spending increased faster (1.4% vs 0.7%). Year-on-year, the GDP rose 7.7%, following an upwardly revised 8% growth in the previous period. The Bank of Greece has recently revised up growth predictions for 2022 to 4.2% from an earlier estimate of 3.2% on the back of higher tourism revenue, but lowered projections for 2023 to 3.1% from 4.1%. source: National Statistical Service of Greece

GDP Growth Rate in Greece averaged 0.24 percent from 1995 until 2022, reaching an all time high of 5.40 percent in the third quarter of 2020 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 November of 2022.

GDP Growth Rate in Greece is expected to be -0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Greece GDP Growth Rate is projected to trend around 0.40 percent in 2023, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Greece GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-06-07 09:00 AM Q1 2.3% 0.8% 0.2%
2022-09-07 09:00 AM Q2 1.2% 2.9% 0.9%
2022-12-07 10:00 AM Q3 1.2% -0.6%


Related Last Previous Unit Reference
GDP Growth Rate 1.20 2.90 percent Jun 2022
GDP Annual Growth Rate 7.70 8.00 percent Jun 2022
GDP Constant Prices 47744.50 44311.70 EUR Million Jun 2022
Gross Fixed Capital Formation 6225.14 6284.96 EUR Million Jun 2022
GDP from Services 11242.88 8689.50 EUR Million Jun 2022
GDP from Public Administration 7784.27 7942.80 EUR Million Jun 2022
GDP from Mining 6893.64 6439.40 EUR Million Jun 2022
GDP from Construction 948.75 1022.18 EUR Million Jun 2022
GDP from Agriculture 1666.73 1588.50 EUR Million Jun 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
1.20 2.90 5.40 -13.30 1995 - 2022 percent Quarterly
SA

News Stream
Greek GDP Growth Slows to 1.2% in Q2
Greece's economy advanced by 1.2% on quarter in the second quarter of 2022, decelerating from an upwardly revised 2.9% expansion in the previous period. Household consumption slowed (2.2% vs 2.7% in Q1) and fixed investment decreased (-1% vs 3.7%). Additionally, net external demand contributed negatively to the GDP, as exports (2.5% vs -2%) rose less than imports (5.8% vs -4.9%). Meanwhile, government spending increased faster (1.4% vs 0.7%). Year-on-year, the GDP rose 7.7%, following an upwardly revised 8% growth in the previous period. The Bank of Greece has recently revised up growth predictions for 2022 to 4.2% from an earlier estimate of 3.2% on the back of higher tourism revenue, but lowered projections for 2023 to 3.1% from 4.1%.
2022-09-07
Greek GDP Growth Quickens in Q1
Greece's economy expanded by 2.3 percent on quarter in the first three months of 2022, accelerating from an upwardly revised 0.8 percent rise in the previous period. Growth was driven by household consumption (2.5 percent vs 2.9 percent in Q4), government spending (1.8 percent vs -1.6 percent) and fixed investment (3.7 percent vs 2 percent). At the same time, net foreign demand contributed positively to growth as exports (-3.6 percent vs 7.2 percent in Q4) fell less than imports (-5.6 percent vs 5.6 percent). Year-on-year, the GDP rose 7 percent, following an upwardly revised 8.1 percent expansion in the prior quarter. The government projects growth of 3.1 percent this year and 4.8 percent in 2023.
2022-06-07
Greece Q4 GDP Growth Slows Markedly
Greece's economy expanded 0.4 percent quarter-over-quarter in the last three months of 2021, slowing markedly from a downwardly revised 2.0 percent advance in the third quarter. Household consumption remained the main driver of growth at the end of 2021, rising at the same pace as in Q3 (2.0 percent). Foreign demand also boosted aggregate expenditure growth, although at a much smaller rate, with exports rising 7.3 percent (vs 15.9 percent in Q3) against a 5.8 percent increase in imports (vs 8.5 percent in Q3). Finally, gross fixed investment growth slowed (1.8 percent vs 4.1 percent) and government spending fell faster (-2.3 percent vs -0.4 percent). Year-on-year, GDP grew 7.7 percent, following a downwardly revised 11.4 percent expansion in the prior quarter. Considering 2021 as a whole, the economy expanded 8.3 percent.
2022-03-04