The Greek economy grew by 2.1% in the first quarter of the year, the Hellenic Statistical Authority (ELSTAT) said on Wednesday.
The statistics service attributed the first quarter reading to investments and exports, which showed a significant increase compared to a year earlier, while consumption also proved resilient, despite high prices.
The available seasonally adjusted data indicate that in the first quarter of 2023 the Gross Domestic Product (GDP) in volume terms decreased by 0.1% in comparison with the fourth quarter of 2022, while in comparison with the first quarter of 2022, it increased by 2.1%.
Quarter on quarter growth rates:
– Total final consumption expenditure increased by 1.4% in comparison with the 4th quarter of
2022.
– Gross fixed capital formation (GFCF) decreased by 1.0% in comparison with the 4
th quarter of 2022.
– Exports of goods and services increased by 5.7% in comparison with the 4th 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% in comparison with the 4th quarter of 2022.
– Imports of goods decreased by 5.0%, while imports of services decreased by 5.5%.
Year on year growth rates:
– Total final consumption expenditure recorded an increase of 2.3% in comparison with the 1st
quarter of 2022.
– Gross fixed capital formation (GFCF) increased by 8.2% in comparison with the 1st quarter of
2022.
– Exports of goods and services increased by 8.9% in comparison with the 1st quarter of 2022.
– Exports of goods increased by 10.6%, and exports of services increased by 6.2%.
– Imports of goods and services increased by 5.6% in comparison with the 1st quarter of 2022.
– Imports of goods increased by 3.2%, and imports of services increased by 12.7%.
