Greece's Q1 2026 GDP rises 2% as investment spikes and current‑account gap widens

Greece's economy grew 2 % in the first quarter of 2026, according to ELSTAT, while the current‑account balance recorded a €7 billion deficit. Exports of goods and services reached €20.584 billion, but imports rose to €27.317 billion, keeping the external gap wide. Fixed‑capital investment surged 12.1 % year‑on‑year, yet analysts stress that the quality of investment matters more than its volume, warning that heavy reliance on imported equipment could fuel further deficits. The European Commission highlighted the risk that strong import demand may persist, given Greece’s high import dependence for investment projects.

In the labour market, the hospitality and tourism sector absorbed the bulk of new hires. Over the first four months of 2026, 129 000 net positions—about 65 % of all net hires—went to restaurants, cafés, hotels and related occupations, up by roughly 20 000 from the same period a year earlier. This surge outpaced overall private‑sector job growth, which increased by 13 000 jobs, and helped offset employment losses in other industries, underscoring the sector’s role as a key driver of Greek employment.