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.