Crisis: Greece, recession continues in Q3, GDP down 6.9%

Exports increased 3.2% in comparison with the 3rd quarter 2011

12 December, 13:54

    (ANSAmed) - ATHENS, DECEMBER 12 - In the 3rd quarter of 2011, Greece's Gross Domestic Product (GDP) decreased by 5.0% in comparison with the 3rd quarter of 2010, reaching 6.9% at the end of the 9-month period (-8.3% in Q1, -7.4% in Q2 and -5.0% in Q3), according to figures from the Greek statistics service (ELSTAT) reported by ANA news agency. Total final consumption expenditure recorded a decrease of 5.1% in comparison with the 3rd quarter of 2010. Gross fixed capital formation (GFCF) decreased by 15.2% in comparison with the 3rd quarter of 2010.

    External trade deficit decreased significantly by 71.4%, contributing positively to the GDP percent change. Exports increased by 3.2% in comparison with the 3rd quarter of 2010.

    Exports of goods increased by 9.3% while exports of services decreased by 0.4%. Imports decreased by 4.3% in comparison with the 3rd quarter of 2010. Imports of goods decreased by 2.3% and imports of services by 11.4%. (ANSAmed).

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