The Greek economy grew at a rate of 2.3% in the second quarter of 2024, even in the face of a more unstable geopolitical landscape and an uncertain global economy, according to the data released on Friday by the Hellenic Statistical Authority (ELSTAT).
Based on the available seasonally adjusted data, the Gross Domestic Product (GDP) in terms of volume increased by 1.1% in Q2 2024 compared to Q1 2024. When compared to Q2 2023, it showed a growth of 2.3%.
The available non-seasonally adjusted data indicate that GDP in volume terms increased by 2.7% in Q2 2024 compared to the same quarter in 2023.
The changes in major macroeconomic indicators in volume terms with seasonal adjustment in the Greek economy are as follows:
Quarterly Changes
Total final consumption expenditure rose by 0.3% compared to Q1 2024.
Gross fixed capital formation increased by 0.8% compared to Q1 2024.
Exports of goods and services grew by 2.5% compared to Q1 2024. Exports of goods rose by 5.2%, while exports of services increased by 1.0%.
Imports of goods and services increased by 6.1% compared to Q1 2024. Imports of goods were up by 7.8%, while imports of services rose by 2.2%.
Annual Changes
Total final consumption expenditure increased by 0.9% compared to Q2 2023.
Gross fixed capital formation rose by 3.9% in comparison to Q2 2023.
Exports of goods and services showed a 2.1% increase compared to Q2 2023. Exports of goods grew by 2.0%, while exports of services rose by 2.8%.
Imports of goods and services increased by 9.6% compared to Q2 2023. Imports of goods were up by 10.5%, while imports of services rose by 6.9%.
