Greek GDP Up by 2.3% in 2024: ELSTAT

The Greek economy grew by 2.3% in 2024, according to initial estimates from the Hellenic Statistical Authority (ELSTAT), with Q4 GDP running at 2.6%.

According to the available seasonally adjusted data, Greece’s Gross Domestic Product (GDP) in volume terms increased by 0.9% in the fourth quarter of 2024 compared to the third quarter of the same year. On an annual basis, GDP grew by 2.6% compared to the fourth quarter of 2023.

Based on non-seasonally adjusted data, GDP in volume terms recorded a 2.7% increase in the fourth quarter of 2024 compared to the corresponding period in 2023.

As part of the completion of the first estimate for GDP in 2024, the components of all quarters of the current year have been revised, both in current and constant prices, incorporating the latest available information for each sector and product. The provisional estimates for the Greek economy were compiled using the best available data sources.

It is also noted that since seasonally adjusted figures are recalculated each time a new quarter is added to the time series, the process of seasonal adjustment—particularly in periods of significant fluctuations—can lead to noticeable revisions, especially in the most recent quarters of the series.

Aggregate consumer spending recorded a 0.3% decline compared to Q4 in 2023, while fixed gross assets investments recorded a 9.0%rise compared to the 2023 Q4.

Goods and services exports were up by 3.6% in comparison to the fourth quarter of last year, with goods exports up by 1.6% and services exports up by 5.9%.

Source: Tovima.com