ELSTAT: By 2% GDP increased in 2023 – 1.6% reduction in exports of goods

Less than the initial forecasts were the expansion of Gross National Product ( ) in 2023, as according to the Greek Statistical Office ( ) the rate rose to 2%, compared with the 2.4% government estimate contained in the budget report. Thus, according to ELSTAT’s new estimate, GDP in 2023 amounted to EUR 194.5 billion compared to EUR 190.7 billion in 2022. Changes in data leading to the above measurement result from exports of goods and services which increased by 2.1% compared to the 4th quarter of 2022, mainly based on services, as exports of goods decreased by 1.6%, while exports of services increased by 4.7%. In the same direction, as an analysis of the Pan-Hellenic Exporters Association and the Export Research and Studies Centre (CEC), reports on the provisional ElSTAT data, exports, for January – December 2023, are reduced by a total of 4.71 billion euros or by -8.5% and came down to 50.41 billion euros from 55.12 billion euros in 2022. As the ELSTAT report points out, imports of goods and services increased by 0.03% compared to the 4th quarter of 2022. Imports of goods increased by 1.6% and imports of services decreased by 4.0%. As regards final consumer spending, it increased by 1.8% compared with the 4th quarter of 2022. Overall and in terms of volume, Gross Domestic Product at current prices in 2023 amounted to EUR 220.3 billion compared to EUR 206.6 billion in 2022 with an increase of 6.6%. On a quarterly basis, based on the seasonally corrected data available, GDP in the 4th quarter of 2023 increased by 0.2%, compared to the 3rd quarter of 2023, and compared to the 4th quarter 2022 it increased by 1.2%. On the basis of the non-seasonally corrected data, GDP in terms of volume, during the 4th quarter 2023 experienced an increase of 1.1% compared to the 4th quarter 2022. It should be noted that, in addition to the downturn in growth rates from 2.4% to 2%, ELSTAT’s last estimate is also less than the Commission’s corresponding estimate for 2.2%.