Greek economy expanded by 3.4 percent on quarter in the three months to June 2021, after an upwardly revised 4.5 percent growth in the previous quarter. Still, it was the fourth consecutive quarter of expansion, as gross fixed capital formation advanced 4.3 percent (vs 3.9 percent in Q1). At the same time, exports rose 2.9 percent (vs 5.8 percent in Q1), while imports grew 5 percent (vs 3.5 percent in Q1). On the other hand, both household consumption (-0.4 percent vs -0.7 percent) and government spending (-0.7 percent vs -3.6 percent) declined. Year-on-year, the economy grew at a record 16.2 percent, rebounding from a 2.3 percent contraction in the previous quarter, amid a low base effect from last year and the ongoing recovery. source: National Statistical Service of Greece

GDP Growth Rate in Greece averaged 0.21 percent from 1995 until 2021, reaching an all time high of 4.50 percent in the first quarter of 2021 and a record low of -12.90 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 September of 2021.

GDP Growth Rate in Greece is expected to be 3.80 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 0.50 percent in 2022 and 0.40 percent in 2023, according to our econometric models.

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Greece GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.40 4.50 4.50 -12.90 1995 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-12-04 10:00 AM Q3 2.3% -14.1% 8.5%
2021-03-05 10:00 AM Q4 2.7% 3.1% -1.2%
2021-06-04 09:00 AM Q1 4.4% 3.4% -1.6%
2021-09-07 09:00 AM Q2 3.4% 4.5% 1.2%
2021-12-06 10:00 AM Q3 3.4% 3.8%
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News Stream
Greek GDP Grows 3.4% in Q2
Greek economy expanded by 3.4 percent on quarter in the three months to June 2021, after an upwardly revised 4.5 percent growth in the previous quarter. Still, it was the fourth consecutive quarter of expansion, as gross fixed capital formation advanced 4.3 percent (vs 3.9 percent in Q1). At the same time, exports rose 2.9 percent (vs 5.8 percent in Q1), while imports grew 5 percent (vs 3.5 percent in Q1). On the other hand, both household consumption (-0.4 percent vs -0.7 percent) and government spending (-0.7 percent vs -3.6 percent) declined. Year-on-year, the economy grew at a record 16.2 percent, rebounding from a 2.3 percent contraction in the previous quarter, amid a low base effect from last year and the ongoing recovery.
2021-09-07
Greek GDP Growth Accelerates to 4.4%
Greece's gross domestic product advanced 4.4 percent on quarter in the three months to March of 2021, following an upwardly revised 3.4 percent expansion in the previous period. Gross fixed capital formation rose 3 percent, accelerating from a 1.8 percent increase in Q4; and foreign demand contributed positively to GDP as exports climbed 4 percent (vs 6.5 percent in Q4) while imports went up at a softer 2 percent (vs -2.8 percent in Q4). Also, household consumption dropped by a less 1.2 percent, after a 2.3 percent decline while government expenditure slowed (0.8 percent vs 1.9 percent). On a yearly basis, the Greek economy shrank 2.3 percent, easing from a 6.9 percent contraction in the previous three-month period.
2021-06-04
Greek Economy Grows 2.7% in Q4
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.
2021-03-05
Greek Economy Grows 2.3% in Q3
Greece's economy expanded by 2.3 percent in the three months to September 2020, partially recovering from a record 14.1 percent slump in the previous period. Household consumption grew sharply by 15.3 percent (vs -12.3 percent in Q2) and public spending advanced 0.9 percent (vs 0.7 percent in Q2), while fixed investment contracted 0.4 percent (vs 2.2 percent in Q2). At the same time, net external demand contributed negatively to the GDP as exports plunged 10.4 percent (vs -35.1 percent in Q2) and imports surged 9.6 percent (vs -13.5 percent in Q2). On a yearly basis, the economy shrank by 11.7 percent, easing from a 14.2 percent contraction in the previous three-month period.
2020-12-04

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.