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Economy

Greek Economy Grew 8.3% in 2021

ATEHNS – The Greek economy grew by 8.3% in 2021 with the country’s Gross Domestic Product rising to 181 billion euros from 167.1 billion in 2020, Hellenic Statistical Authority said on Friday. More specifically, the Greek GDP grew by 7.7% in the fourth quarter of 2021 compared with the same period in 2020 and grew by 0.4% in comparison with the third quarter of the year.

On an annual basis, GDP growth reflected an 8.8% increase in final consumption spending (household spending up 9.7% while general government spending eased 0.8%), private investments (gross fixed capital investments) jumped 24.1%, exports of goods and services rose 24.1% (goods up 4.1%, services up 63.2%) and imports rose 33.2% (goods up 29.8% and services up 43.4%).

On a quarterly basis, GDP growth reflected an 1.9% increase in final consumption spending (household up 2% and government down 2.3%), private investments rose 1.8%, exports of goods and services rose 7.3% and imports were up 5.8%.

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