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Greece

Greek economy records 16.2% growth in the second quarter of 2021

The GDP increased by 3.4% compared to the first quarter of this year

The Greek economy recorded substantial growth of 16.2% in the second quarter of 2021, driven by both consumption and private investment and exports, according to the Hellenic Statistical Authority (ELSTAT). As ELSTAT announced, based on the quarterly national accounts the GDP increased by 3.4% compared to the first quarter of this year.

In the first quarter of 2021 compared to the first quarter of 2020, GDP decreased by 2.3% despite the lockdown, resulting in growth in the first half of this year to about 7%.

  • Total final consumption expenditure increased by 12.1% (household consumption increased by 13.2% and that of the General Government by 6.1%).
  • Private investment (gross fixed capital formation) increased by 12.9%.
  • Exports of goods and services increased by 22.6% (exports of goods increased by 17.1%, while exports of services increased by 28.8%).
  • Imports of goods and services increased by 22.5% (imports of goods increased by 19.7% and imports of services increased by 35.2%).

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