The Greek economy grew at a rate of 5.9% in 2022, according to Hellenic Statistical Authority-ELSTAT data.
Thus, the GDP in 2022 in terms of volume reached 192.1 billion euros against 181.3 billion euros in 2021, showing a growth of 5.9%. The increase is due to the individual changes recorded by GDP component.
Based on available seasonally adjusted data, Gross Domestic Product (GDP) in volume terms in Q4 2022 increased by 1.4% compared to Q3 2022, while compared to Q4 2021 it increased by 5.2%.
Growth rates of major macroeconomic aggregates based on seasonally adjusted data in volume terms are
as follows:
1. Quarter on quarter growth rates
o Total final consumption expenditure increased by 1.2% in comparison with the 3rd quarter of 2022.
o Gross fixed capital formation (GFCF) increased by 8.5% in comparison with the 3rd quarter of 2022.
o Exports of goods and services decreased by 0.8% in comparison with the 3rd quarter of 2022. Exports of goods decreased by 2.8% while exports of services decreased by 0.7%.
o Imports of goods and services increased by 6.3% in comparison with the 3rd quarter of 2022. Imports of goods increased by 4.5%, while imports of services increased by 11.1%.
2. Year on year growth rates
o Total final consumption expenditure recorded an increase of 2.4% in comparison with the 4th quarter of 2021.
o Gross fixed capital formation (GFCF) increased by 14.8% in comparison with the 4th quarter of 2021.
o Exports of goods and services decreased by 3.5% in comparison with the 4th quarter of 2021. Exports of goods decreased by 3.3%, and exports of services decreased by 5.1%.
o Imports of goods and services increased by 7.5% in comparison with the 4th quarter of 2021. Imports of goods increased by 4.8%, and imports of services increased by 12.9%.
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