Greek economy grows 2.1% in third quarter

The Greek economy grew by 2.1% in the third quarter of 2023 compared with the same period last year, with the country’s GDP rising by 0.02% between the third and second quarter of 2023, the Hellenic Statistical Authority said on Wednesday.

Greece’s GDP grew 1.9% in the first quarter and 2.6% in the second quarter of the year compared with the same periods in 2022, and by 0.1% and 1.1% on a quarterly basis, the independent statistics service ELSTAT said on Wednesday.

The statistics service attributed the 2.1% rise in the GDP to a 1% increase in final consumption spending, a 4.9% rise in private investments (gross fixed capital investments), a 1% rise in exports of goods and services (goods fell 1.1% and services rose 2.9%) and a 2.9% increase in imports of goods and services (goods rose 3.4% and services increased 0.8%).

On a quarterly basis, final consumption spending fell 0.5%, private investments fell 1.8%, exports eased 0.7% and imports rose 2%.