According to ELSTAT, the available non-seasonally adjusted data indicate that in the 2 nd quarter of 2024 the Gross Domestic Product (GDP) in volume terms increased by 2.7% in comparison with the 2 nd quarter of 2023.
It is noted that as the seasonally adjusted figures are recalculated every time a new quarter is added in the
time series, the effect of the seasonal adjustment process, especially in periods of sharp fluctuations of the
underlying variables, is reflected in noteworthy revisions, especially in the most recent quarters of the time
series.
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 0.3% in comparison with the 1 st quarter of 2024.
- Gross fixed capital formation (GFCF) increased by 0.8% in comparison with the 1 st quarter of 2024.
- Exports of goods and services increased by 2.5% in comparison with the 1 st quarter of 2024. Exports of goods increased by 5.2% while exports of services increased by 1.0%.
- Imports of goods and services increased by 6.1% in comparison with the 1 st quarter of 2024. Imports of goods increased by 7.8%, while imports of services increased by 2.2%.
2. Year on year growth rates
- Total final consumption expenditure recorded an increase of 0.9% in comparison with the 2 nd quarter of 2023.
- Gross fixed capital formation (GFCF) increased by 3.9% in comparison with the 2 nd quarter of 2023.
- Exports of goods and services increased by 2.1% in comparison with the 2 nd quarter of 2023. Exports of goods increased by 2.0%, and exports of services increased by 2.8%.
- Imports of goods and services increased by 9.6% in comparison with the 2 nd quarter of 2023. Imports of goods increased by 10.5%, and imports of services increased by 6.9%.
