Greece's GDP grew 5.9% in 2022

growth economy

Greece's GDP grew by 5.9% in 2022, after a 5.2% growth rate recorded in the fourth quarter of last year, compared with the same period in 2021, Hellenic Statistical Authority said on Tuesday. The statistics service said these were provisional and non-seasonally adjusted data in volume terms.

In volume terms, the country's gross domestic product totaled 192.1 billion euros in 2022, from 181.3 billion in 2021. In the fourth quarter, GDP grew by 1.4% from the third quarter of 2022.

More specifically, final consumption spending grew 5.5% (households up 7.8% and general government down 1.6%), private investments (gross capital formation) jumped 21.7%, exports of goods and services rose 4.9% and imports of goods and services fell 10.2%.

The 5.2% GDP growth rate in the fourth quarter reflected a 2.4% increase in final consumption spending (households 4.2% and general government down 1.9%), a 14.8% rise in private investments, a 3.5% decline in exports and a 7.5% rise in imports.

On a quarterly basis, the country's GDP grew by 1.4% in the fourth quarter from the third quarter of 2022, reflecting an 1.2% rise in final consumption spending (households up 1.8% and general government down 0.7%), an 8.5% increase in private investments, a 0.8% decline in exports and a 6.3% rise in imports.

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