The pandemic-fuelled recession in Greece caused a GDP reduction of 11.7 percent in Q3 2020, compared with the same quarter of 2019, according to Greece’s statistical authority, EL.STAT.
Figures for the preceding two quarters were also revised, with Q2 recording a 14.2-percent reduction, slightly less than the previously announced 15.2 percent.
The first trimester of 2020, a period before the first Covid-19 lockdown, posted a recessionary figure of 0.4 percent, rather than the previous estimate of a reduction of 0.5 percent.
The quarter-to-quarter comparison for exports in Q3 witnessed a dramatic slump, down by 44.9 percent compared to Q3 2019, with services down by a catastrophic 80 percent.
