Greece GDP Growth Rate
The Gross Domestic Product (GDP) in Greece expanded 0.20 percent in the first quarter of 2011 over the previous quarter. GDP Growth Rate in Greece averaged 0.46 Percent from 2000 until 2011, reaching an all time high of 3.80 Percent in the first quarter of 2003 and a record low of -2.80 Percent in the fourth quarter of 2010. GDP Growth Rate in Greece is reported by the National Statistical Service of Greece.
||2000 - 2011
Greece has a service based economy and is one of the top tourist destinations in the world. Following the
entry to the European Union in 1980 and the Euro Area in 2000, the Greek economy had been recording high rates of growth. Yet, as this expansion had been fuelled mainly by the access to cheap credit and growth of public sector, in 2008 the budget deficit and sovereign debt had reached unsustainable levels. As a result, Greece faces the worst crisis since 1974 and tough reforms enforced by the IMF and the European Commission as part of the bailout programme are taking place. This page provides - Greece GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.