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Economy

Greek Economy Grew 2.1% in Q1

ATHENS – The Greek economy grew by 2.1% in the first quarter of 2023 compared with the corresponding period last year, but fell by 0.1% from the fourth quarter of 2022, Hellenic Statistical Authority said on Wednesday.

More specifically, the statistics service attributed the 2.1% increase in the Greek GDP to: a 2.3% increase in total consumption spending (household spending up 2.9% and general government spending up 1.4%), the growth of private investments by 8.2% (gross fixed capital investments), exports of goods and services rising 8.9% (goods up 10.6% and services up 6.2%, while imports of goods and services rose 5.6% (goods up 3.2% and services up 12.7%).

In a quarterly basis, consumption spending rose 1.4% (household up 1.4% and general government up 2.1%), private investments fell 1%, exports of goods and services rose 5.7% and imports fell 5.1% in the January-March period, compared with the October-December 2022 period.

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