Strong growth of 13.4% was recorded in the third quarter of this year, on an annual basis, in the Greek economy. This increase in GDP, according to the quarterly national accounts of ELSTAT, is due to the increase in consumption (due to tourism), private investment and exports.
It is noted that after the revision by ELSTAT of the data for the first two quarters of 2021, the GDP decreased in the first quarter of this year by 1.9% and increased (after the improvement in the revision) by 16.6% in the second quarter this year.
In particular, the third quarter of this year in relation to the corresponding quarter of 2020:
-The total final consumption expenditure increased by 7.3% (household consumption increased by 8.6% and that of the General Government by 5.7%).
-Private investments (gross fixed capital formation) increased by 18.1%.
Exports of goods and services increased by 48.6% (exports of goods increased by 9.2%, while exports of services increased by 84.6%).
Imports of goods and services increased by 21.7% (imports of goods increased by 10.1% and imports of services increased by 58.1%).
Compared to the second quarter of this year, GDP increased by 2.7%, with the main figures being as follows:
-Total total consumption expenditure increased by 0.9% (household consumption increased by 1.1% and that of General Government decreased by 0.1%).
-Private investments (gross fixed capital formation) increased by 3.9%.
Exports of goods and services increased by 12.6% (exports of goods increased by 1.4%, while exports of services increased by 29%).
Imports of goods and services increased by 7.3% (imports of goods increased by 3.7%, while imports of services increased by 18.7%).
Staikouras: Strong economic recovery
“For the 9 months of 2021, the growth rate is now over 9.3%. Therefore, the strong recovery of the Greek economy is confirmed and the goal for 2021 becomes completely achievable, since it is realistic, perhaps even conservative. A recovery based on, among other things, the significant strengthening of investments and net exports “, said the Minister of Finance, Christos Staikouras.
He added that this development, together with the reduction of unemployment and the improvement of the disposable income of the citizens, is another proof of the correctness and effectiveness of the government’s economic policy.
“It is up to all of us – state and society – to harness the momentum that has been created, to overcome new, mainly external, challenges and to intensify our efforts, so that the present strong recovery gives the baton to a high, sustainable and inclusive development, for the benefit of all citizens – and above all the new generation “, he concluded.
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