![ELSTAT: GDP Growth at 2.3% in Q2 2024](https://www.ot.gr/wp-content/uploads/2024/04/ot_nomoney2-768x450-1.png)
The Greek economy grew at a rate of 2.3% in the second quarter of 2024, even in the face of a more unstable geopolitical landscape and an uncertain global economy, according to the data released on Friday by the Hellenic Statistical Authority (ELSTAT).
Based on the available seasonally adjusted data, the Gross Domestic Product (GDP) in terms of volume increased by 1.1% in Q2 2024 compared to Q1 2024. When compared to Q2 2023, it showed a growth of 2.3%.
The available non-seasonally adjusted data indicate that GDP in volume terms increased by 2.7% in Q2 2024 compared to the same quarter in 2023.
The changes in major macroeconomic indicators in volume terms with seasonal adjustment in the Greek economy are as follows:
Quarterly Changes
Total final consumption expenditure rose by 0.3% compared to Q1 2024.
Gross fixed capital formation increased by 0.8% compared to Q1 2024.
Exports of goods and services grew by 2.5% compared to Q1 2024. Exports of goods rose by 5.2%, while exports of services increased by 1.0%.
Imports of goods and services increased by 6.1% compared to Q1 2024. Imports of goods were up by 7.8%, while imports of services rose by 2.2%.
Annual Changes
Total final consumption expenditure increased by 0.9% compared to Q2 2023.
Gross fixed capital formation rose by 3.9% in comparison to Q2 2023.
Exports of goods and services showed a 2.1% increase compared to Q2 2023. Exports of goods grew by 2.0%, while exports of services rose by 2.8%.
Imports of goods and services increased by 9.6% compared to Q2 2023. Imports of goods were up by 10.5%, while imports of services rose by 6.9%.
Source: tovima.com
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Tax Authorities in Greece Launch Sweeping Inspections](https://www.ot.gr/wp-content/uploads/2022/11/pay-768x387-1-600x302.jpg)
Tax Authorities in Greece Launch Sweeping Inspections
The audits primarily target cash registers and POS system interconnectivity to determine businesses that have not completed requisite integration or instances of pirated software
![National Bank of Greece Cuts Transaction Fees to Benefit Customers](https://www.ot.gr/wp-content/uploads/2024/09/NBG-Branch_3-scaled-1-600x214.jpg)
National Bank of Greece Cuts Transaction Fees to Benefit Customers
Reduction of the instant payment fee via internet and mobile banking for amounts up to 500 euros from 2.50 to 1.50 euros
![Greek Exports Struggle Amid Geopolitical and Domestic Challenges](https://www.ot.gr/wp-content/uploads/2024/09/exports-600x400.jpeg)
Greek Exports Struggle Amid Geopolitical and Domestic Challenges
Greek Exports Struggle Amid Geopolitical and Domestic Challenges
![Pink sand from Crete and Pebbles from Skiathos… from €2.99](https://www.ot.gr/wp-content/uploads/2024/09/lalaria_shutterstock_1134730076-2048x1121-1-600x328.jpg)
Pink sand from Crete and Pebbles from Skiathos… from €2.99
Ads for ‘souvenirs’ from famous Greek beaches make a splash on the Internet
![EC Confirms €1 BN Grants to Greece in Prelim. Assessment](https://www.ot.gr/wp-content/uploads/2024/09/ec-1-600x376.jpg)
EC Confirms €1 BN Grants to Greece in Prelim. Assessment
The preliminary assessment said that Greece had fulfilled all the prerequisites for the disbursement of €1 billion in grants as part of the Recovery and Resilience Facility (RRF)
![Aegean Airlines Enters into Strategic Partnership with Spanish Volotea](https://www.ot.gr/wp-content/uploads/2024/09/teli_kikloforias_2018-e1620406349668-768x478-1-600x373.jpg)
Aegean Airlines Enters into Strategic Partnership with Spanish Volotea
The deal will allow the two Mediterranean-based carrier partners to map out a course based on healthy finances amid an increasingly competitive industry in Europe
![Greek Retailers Shift Focus to Black Friday after Summer Sales](https://www.ot.gr/wp-content/uploads/2024/09/black-1-1-600x400.jpg)
Greek Retailers Shift Focus to Black Friday after Summer Sales
In recent years, the Black Friday craze has crossed Greek borders, with many consumers choosing to purchase their Christmas gifts well in advance, taking advantage of the discounts.
![Greece Opens Path for Citizens to Legally Acquire Squatted Public Properties](https://www.ot.gr/wp-content/uploads/2024/09/katapatimena-scaled-1-2048x1366-1-600x400.jpg)
Greece Opens Path for Citizens to Legally Acquire Squatted Public Properties
Citizens who submit a purchase application can pay the property price either in full or in 60, interest-free, equal monthly instalments, with a minimum instalment amount of 100 euros.
![Greece Cracks Down on Uninsured Vehicles](https://www.ot.gr/wp-content/uploads/2022/02/teli_kikloforias_2018-e1620406349668-768x478-1-600x373.jpg)
Greece Cracks Down on Uninsured Vehicles
Furthermore, the owners of vehicles declared as immobilized but are found on the road are to be faced with stricter penalties and fines.
![Alpha Bank Bond Issue Oversubscribed by 9.5 Times](https://www.ot.gr/wp-content/uploads/2024/09/euros-2048x1365-1-600x400.jpg)
Alpha Bank Bond Issue Oversubscribed by 9.5 Times
The AT1 issue was greeted with high demand by more some 250 international and domestic investors, with the amount offered reaching 2.9 billion euros