Greece’s economy grew by 1.4% quarter-on-quarter in the final three months of 2022, extending the revised 0.4% growth in the previous period to book its fastest expansion since the first quarter of the year. Final consumption expenditure rebounded (1.2% vs -0.9% in Q3), as solid growth for household consumption (1.8% vs -0.4%) offset continued contraction for government expenditure (-0.3% vs -1.2%). In the meantime, gross fixed capital formation rose by 8.5% after the slower 0.9% increase in the third quarter, marking the sharpest increase since the first quarter of 2021. On the other hand, exports fell by 0.8% while imports jumped by 6.3%, having a negative effect on GDP growth. Considering the full 2022, the Greek economy expanded by 5.9%. The European Commission expects growth to slow to 1.2% this year amid deteriorating global economic conditions, while higher interest rates pressure Greece due to its large debt. source: National Statistical Service of Greece
GDP Growth Rate in Greece averaged 0.25 percent from 1995 until 2022, reaching an all time high of 5.30 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 March of 2023.
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. In the long-term, the Greece GDP Growth Rate is projected to trend around 0.70 percent in 2024 and 0.50 percent in 2025, according to our econometric models.