Greece's growth rate showed an increase of 2.3% in the second quarter of 2024, compared to the corresponding period of 2023, according to the data announced by the Hellenic Statistical Authority (ELSTAT). On a quarterly basis, GDP rose by 1.1%.
In the first quarter, Greece's GDP had increased by 2.1% on an annual basis and by 0.8% on a quarterly basis.
According to ELSTAT's announcement, consumption, investments and exports had a significant impact on GDP growth. Specifically, consumption rose by 0.9% on an annual basis and 0.3% on a quarterly basis, while the increase in investments was even higher (3.9% and 0.8%, respectively). Exports of goods increased by 2% year-on-year and by 5.2% compared to the first quarter of 2024, and exports of services by 2.8% and 1%, respectively).
On the other hand, imports of both goods and services recorded greater increases than exports.
Quarterly changes, relative to the first quarter of 2024:
- Total final consumer spending rose by 0.3%
- Gross fixed capital investment increased by 0.8%
- Exports of goods and services showed an increase of 2.5%
- Imports of goods and services rose by 6.1%.
Annual changes relative to the second quarter of 2023:
- Total final consumer spending up 0.9%
- Gross fixed capital increased by 3.9%.
- Exports of goods and services rose 2.1%.
- Imports of goods and services up 9.6%.
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