ECONOMY

Greek GDP jumps 13.4% in Q3

greek-gdp-jumps-13-4-in-q3

The Greek economy grew strongly in the third quarter of the year, with the Gross Domestic Product rising 13.4% year-on-year, Hellenic Statistical Authority (ELSTAT) said on Monday. ELSTAT attributed the figure to a rise in consumption, private investments and exports.
 
The statistics service revised GDP data for the first two quarters of 2021, with the GDP falling by 1.9% in the first quarter and growing by 16.6% in the second quarter.
 
Total final consumption spending grew 7.3% in the third quarter (household consumption rose 8.6% while general government consumption was up 5.7%). 

Private investments (gross fixed capital investments) rose 18.1%, exports of goods and services jumped 48.6% (exports of goods rose 9.2% while exports of services soared 84.6%) and imports rose 21.7% (imports of goods rose 10.1% and imports of services jumped 58.1%).
 
On a quarterly basis, the Greek GDP grew 2.7%, reflecting a 0.9% increase in total final consumption spending (household up 1.1% and general government off 0.1%), private investments up 3.9%, exports up 12.6% and imports up 7.3%. [AMNA]