Greece records 2.3% GDP growth in 1Q 2018

According to the statistics agency, the available seasonally adjusted data indicated that in the 1st quarter of 2018 the Gross Domestic Product (GDP) in volume terms increased by 0.8 pct in comparison with the 4th quarter of 2017, and 2.3 pct in comparison with the 1st quarter of 2017.

The available non-seasonally adjusted data indicated that GDP in the 1st quarter of 2018 in volume terms increased by 2.4 pct in comparison with the 1st quarter of 2017, the press release said.

The seasonally adjusted figures are recalculated every time a new quarter is added in the time series; therefore the seasonal adjusted data are revised every quarter.

Growth rates of major macroeconomic aggregates based on seasonally adjusted data in volume terms are as follows:

1. Quarter on quarter growth rates

- Total final consumption expenditure increased by 0.1 pct in comparison with the 4th quarter of 2017.

- Gross fixed capital formation (GFCF) decreased by 28.1 pct in comparison with the 4th quarter of 2017.

- Exports of goods and services increased by 1.4 pct in comparison with the 4th quarter of 2017. Exports of goods increased by 5.1 pct while exports of services decreased by 1.9 pct.

- Imports of goods and services decreased by 2.7 pct in comparison with the 4th quarter of

2017. Imports of goods decreased by 4.6 pct while imports of services increased by 7.3 pct.

2. Year on year growth rates

- Total final consumption expenditure recorded a decrease of 0.3 pct in comparison with the 1st quarter of 2017.

- Gross fixed capital formation (GFCF) decreased by 10.4 pct in comparison with the 1st quarter of 2017.

- Exports of goods and services increased by 7.6 pct in comparison with the 1st quarter of 2017. Exports of goods increased by 10.5 pct, and exports of services increased by 3.8 pct.

- Imports of goods and services decreased by 2.8 pct in comparison with the 1st quarter of 2017. Imports of goods decreased by 6.1 pct, and imports of services increased by 13.0 pct.