According to ELSTAT, the Greek economy registered a growth rate of 2.1% in the first quarter of the year. On a quarterly basis, i.e. compared to the fourth quarter of 2022, the Greek economy shrank by 0.1%.

On a non-seasonally adjusted basis, GDP increased by 2.3% compared to the first quarter of 2022.

The figures show strong investment growth of 8.2% and exports of 8.9%. At the same time, consumption increased by 2.3% and imports by 5.6%.

The main changes in detail

On an annual basis:

-The total final consumption expenditure showed an increase of 2.3% compared to the first quarter of 2022.
-Gross fixed capital investment increased by 8.2% compared to the first quarter of 2022.
-Exports of goods and services showed an increase of 8.9% compared to the first quarter of 2022. Exports of goods increased by 10.6%, while exports of services increased by 6.2%.
-Imports of goods and services showed an increase of 5.6% compared to the first quarter of 2022. Imports of goods increased by 3.2% and imports of services increased by 12.7%.

At quarterly level:

-Total final consumer spending increased by 1.4% compared to the fourth quarter of 2022.
-Gross fixed capital formation decreased by 1.0% compared to the fourth quarter of 2022.
-Exports of goods and services showed an increase of 5.7% compared to the fourth quarter of 2022. Exports of goods increased by 9.5%, while exports of services increased by 4.5%.
-Imports of goods and services decreased by 5.1% compared to the fourth quarter of 2022. Imports of goods decreased by 5.0%, while imports of services decreased by 5.5%.