Greece's economy grew 1.9% in 2018
In Greece, the economy grew by 1.9 percent in 2018 compared to the previous year.
Greek Statistical Authority (ELSTAT), the 2018 season Adjusted Gross Domestic Product (GDP) announced that data.
Accordingly, the annual growth rate of 2 percent growth in economic growth. GDP in the country reached 190.8 billion euros.
Consumption expenditures increased 0.3 percent, while government spending declined by 2.5 percent year-on-year. In this period, exports increased by 8.7 percent and imports increased by 4.2 percent.
- Narrowing in the last quarter
On the other hand, in the fourth quarter of 2018, there was a 0.1 percent contraction compared to the previous quarter. The quarterly GDP growth, which continued for 2.5 years, ended with a 0.1 percent contraction in the last quarter of last year.
In the narrowing, consumption expenditures, which showed a decline of 0.2 percent and gross fixed capital formation, which decreased by 3.6 percent, were effective. In the said period, exports increased by 1.8 percent, while imports decreased by 7.8 percent.
In Greece, the government aimed to grow by 2 percent in 2018 and the EU Commission by 2.1 percent. During the economic crisis, the country contracted by about 25 percent.
- Unemployment rate declines
The unemployment rate fell to 18 percent in December 2018 on an annual and monthly basis. The number of unemployed people was recorded as 851 thousand.
