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. source: National Statistical Service of Greece
GDP Growth Rate in Greece averaged 0.18 percent from 1995 until 2021, reaching an all time high of 4.40 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 August of 2021.
GDP Growth Rate in Greece is expected to be 1.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Greece to stand at 0.60 in 12 months time. 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.