ELSTAT: Greek economy contracted by 9.0 pct in 2020

The Greek economy contracted by 9.0 pct last year, deeper than an 8.2 pct estimate made in March, with the country’s GDP reaching 167.077 billion euros, from 183.640 billion in 2019, says Hellenic Statistical Authority.

More specifically, final consumption spending fell 5.5 pct (household consumption down 8 pct and general government consumption up 2.6 pct), from a 3.4 pct decline announced in the first estimate in March. Imports of goods and services fell 7.6 pct (6.8 pct the first estimate), exports of goods and services dropped 21.5 pct (-21.7 pct the first estimate), while private investments (gross fixed capital formation) fell 0.3 pct.