Household disposable income increased by 4.5% in 2024, as according to Hellenic Statistical Authority (ELSTAT) data released on Thursday it stood at 158.6 billion euros, from €151.7 billion in 2023.
Final consumption expenditure of households and non-profit institutions serving households increased by 4.6% in 2024 compared to 2023, i.e. from €155.4 billion euros to €162.6 billion euros.
This means that last year consumers in Greece spent €4 billion more than they earned, either by resorting to their savings or through the illegal economy.
The household savings rate (gross savings to gross disposable income) was negative in 2024, at -2.5% compared to -2.4% in 2023.
Furthermore, according to ELSTAT data, the evolution of the investment rate of the non-financial corporations sector – defined as the ratio of gross fixed capital formation to gross value added – was 25.2% in 2024 compared to 25.1% in 2023.
Also, in 2024 there was a deficit recorded in the external balance of goods and services amounting to €13.1 billion, compared to a deficit of €10.8 billion in 2023.