Greece posts steepest annual decline in Q3 GDP among EU states in SEE - Eurostat

Greece posts steepest annual decline in Q3 GDP among EU states in SEE - Eurostat

Greece’s economy contracted by an annual 11.7% in the third quarter of 2020 - the sharpest decline among EU member states in Southeast Europe (SEE), the EU's statistical office said.

Compared to the previous quarter, Greece's gross domestic product (GDP) rose by 2.3%, however, this was the lowest increase among EU-27, Eurostat said in a statement earlier this week.

Croatia's GDP fell 10% year-on-year in the July-September period of 2020, well below the EU average of 4.2% contraction. The country reported a 6.9% increase in GDP on a quarterly comparison basis.

Romania followed with a contraction of 6% on an annual comparison basis and a 5.6% increase compared to the second quarter of this year.

Bulgaria's third-quarter GDP shrank by 5.2% compared to the same period of 2019 and added 4.3% compared to the second quarter of 2020.

Slovenia's economy contracted the least on an annual comparison basis in the third quarter among EU member states in SEE - by 2.9%. At the same time, the country saw its GDP grow by 12.4% quarter-on-quarter.

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