The Hellenic Statistical Authority announced growth of 2.3% in the first quarter of 2018 on Monday morning, relying mainly on exports that moved upwards in contrast to imports, consumption and investment which all fell.
According to provisional seasonally adjusted data, the Gross Domestic Product (GDP) in the first quarter of 2018 showed an increase of 0.8% compared to the fourth quarter of 2017, while in comparison to the first quarter of 2017 it was up by 2.3%.
On the basis of the annual changes, ie the difference in the first quarter of 2018 from the first quarter of 2017:
– Total final consumption expenditure decreased by 0.3% compared to the first quarter of 2017.
– Gross fixed capital formation decreased by 10.4% compared to the first quarter of 2017.
– Exports of goods and services increased by 7.6%. Exports of goods increased by 10.5% while exports of services increased by 3.8%.
– Imports of goods and services decreased by 2.8% compared to the first quarter of 2017. Imports of goods declined by 6.1% and imports of services increased by 13.0%.