Gross Domestic Product (GDP) grew by 2.3% in the second quarter of the year, on an annual basis. Compared to the first quarter of 2024, it grew by 1.1%. On a year-on-year basis, consumption showed a 0.9% increase and investment rose by 3.9%.

It is noted that for the full year, the Stability Programme forecasts a growth rate of 2.5%, while the Bank of Greece expects a rate of 2.2%. 

According to ELSTAT, based on non-seasonally adjusted data, the Gross Domestic Product in terms of volume, in Q2 2024 showed an increase of 2.7% compared to Q2 2023. 

Quarterly changes

• Total final consumption expenditure increased by 0.3% compared to Q1 2024.
•  Gross fixed capital formation increased by 0.8% compared to Q1 2024.
• Exports of goods and services increased by 2.5% compared to Q1 2024. Exports of goods increased 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 increased by 7.8%, while imports of services increased by 2.2%.

Annual changes

• Total final consumption expenditure increased by 0.9% compared to Q2 2023.
• Gross fixed capital formation increased by 3.9% compared to Q2 2023.
• Exports of goods and services increased by 2.1% compared to Q2 2023. Exports of goods increased by 2.0%, while exports of services increased by 2.8%.
• Imports of goods and services increased by 9.6% compared to Q2 2023. Imports of goods increased by 10.5% and imports of services increased by 6.9%.