Greece GDP Growth Rate

Last Release

Dec 31, 2022

Actual

1.4

Units In

-0.5

Frequency

Quarterly

Next Release

Sep 05, 2025

Time to Release

2 Months 28 Days 2 Hours

Highest	Lowest	Average	Date Range	Source
5.6 Sep 2020	-14.2 Jun 2020	0.26 %	1995-2022	National Statistical Service of Greece

Greece has a service based economy and is one of the top tourist destinations in the world. Following the entry to the European Union in 1980 and the Euro Area in 2000, the Greek economy had been recording high rates of growth. Yet, as this expansion had been fueled mainly by the access to cheap credit and growth of public sector, in 2008 the budget deficit and sovereign debt reached unsustainable levels. As a result, Greece faced the worst crisis since 1974 and tough reforms enforced by the IMF and the European Commission as part of the bailout programme are taking place.

Latest Updates

Greece’s economy stalled on a quarterly basis in the first quarter of 2025, following a downwardly revised 0.8% expansion in the previous three-month period. The stagnation was largely attributed to a negative contribution from net external demand, as exports declined by 0.9% (vs +0.3% in Q4 2024), while imports increased by 0.7% (vs a -1.7%). Additionally, fixed investments contracted sharply by 6.1% (vs 3.7%), and government spending also dropped by 1.1% (vs +1.1%). Meanwhile, household consumption showed signs of recovery, rising 1.3% following a 0.1% decline in the previous quarter. On an annual basis, Greece’s GDP grew by 2.2% in Q1 2025, slowing from a downwardly revised 2.5% expansion in the preceding quarter.