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. source: National Statistical Service of Greece
GDP Growth Rate in Greece averaged 0.23 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 July 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.