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Greece: Growth of 16.2% in the second quarter recorded by ELSTAT

A very strong growth of 16.2% was recorded in the economy in the second quarter of this year, driven by consumption and private investment and exports. At the same time, GDP grew by 3.4% compared to the first quarter of this year, according to data released today by ELSTAT.

More specifically, in the first quarter of 2021 compared to the first quarter of 2020, GDP fell by 2.3% despite the stalemate, resulting in an increase in the first half of this year to about 7%.

In particular, as announced by ELSTAT with the national quarterly accounts, between the second quarter of 2021 and the second quarter of 2020:

* Total final consumption expenditures increased by 12.1% (household consumption increased by 13.2% and that of the General Government by 6.1%).

* Private investment (gross fixed capital formation) increased by 12.9%.

* Exports of goods and services increased by 22.6% (exports of goods increased by 17.1%, while exports of services increased by 28.8%).

* Imports of goods and services increased by 22.5% (imports of goods increased by 19.7% and imports of services increased by 35.2%).

Whereas, between the second quarter and the first quarter of 2021, the following were recorded:

* Total final consumption expenditures increased by 0.2% (household consumption decreased by 0.4% and that of General Government decreased by 0.7%).

* Private investment (gross fixed capital formation) increased by 4.3%.

* Exports of goods and services increased by 2.9% (exports of goods increased by 2.9%, while exports of services increased by 0.8%).

* Imports of goods and services increased by 5% (imports of goods increased by 3.8%, while imports of services increased by 19.8%) ./ ibna

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