Saturday

07-06-2025 Vol 19

Greek Economy Shows Stability in Q1, Maintaining Steady Growth According to Reuters AP Newsletters

The Greek economy experienced stagnation in the first quarter of 2025, marking the end of an 18-quarter period of growth. According to provisional seasonally adjusted data from the country’s statistics agency ELSTAT, there was no quarter-on-quarter increase in gross domestic product (GDP) from January to March 2025. This data is particularly significant as it follows a previously revised growth rate of 0.8% in the fourth quarter of 2024. The absence of growth in this latest quarter can be attributed primarily to a decline in investment and exports.

Gross fixed capital formation, which reflects investment in physical assets, saw a notable decrease of 6.1% compared to the previous quarter. In contrast, total final consumption expenditure experienced a modest increase of 1.2%. On an annual basis, however, Greece’s GDP recorded a 2.2% increase in the first quarter when compared to the same period in 2024. This suggests that while the quarterly performance has stalled, the economy is still growing year-on-year.

Exports, a crucial component of the economy, also suffered during this period. The total exports of goods and services, which notably include tourism revenues, declined by 0.9% quarter-on-quarter. This decline was influenced by a 2.0% drop in services exports and a 0.8% decrease in goods exports. On the other hand, imports rose by 0.7%, with a small decrease of 0.03% in goods imports contrasted by a 2.0% increase in services imports.

Overall, Greece’s economic performance in the first quarter of 2025 reflects a complex interplay of factors that have led to a period of stability amidst challenges in investment and trade.

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