The Greek economy grew at a rate of 2.3% in 2023, according to revised ELSTAT data, compared to the 2% estimated in the first estimate in March.

According to ELSTAT, the second estimate was based on the available annual data from sources (such as the results of the Family Budget Survey, estimates of MCIEN, updated data on short-term indicators, ELSTAT's international trade in goods statistics, Bank of Greece balance of payments data, employment data, general government data, etc.).

In contrast, the first estimate of GDP in March 2024 was derived from the sum of the results of the quarters of 2023 (not seasonally adjusted), based on the production approach.

It is noted that the planned revision, which included a parallel change of base year, reference year and revision of years 1995-2022, mainly incorporated the following:

• methodological improvements, in the context of the cycle of verification of Gross National Income methods and sources,
• the results of the Population - Housing Census 2021, concerning employment and dwellings (housing stock),
• the results of the Business Structure Survey, with reference year 2021,
• updated General Government data for the whole time series,
• new and updated data from various sources