​​​​​​​​A rally in the economy with manufacturing, trade and tourism as a vehicle

By Giorgos Lampiris

The contribution of sectors such as manufacturing, wholesale and retail trade and tourism in shaping the turnover of businesses in Greece is strong, as can be seen from the data of the Hellenic Statistical Authority.

According to ELSTAT, in the second quarter of 2022 the turnover for all businesses and economic activities reached 111.26 billion euros, being increased by 39.3% compared to the corresponding period of 2021. when turnover was at 79.86 billion euros.

The impact by sector and the role of manufacturing, trade and tourism

Decisive is the effect it has on the economy – due to the overall economic footprint – wholesale and retail trade including car and motorcycle repair activities.

In the second quarter of 2022, it had a turnover increase of 21.9% compared to that of 2021, reaching 42 billion euros from 34.47 billion euros in 2021. It contributed drastically to the image of the Greek economy in the second quarter of the current year and manufacturing with a turnover increase of 45.2% to €26.26 billion from €18.08 billion last year.

The largest increase in turnover was recorded by accommodation and catering

In this year’s financial data, the largest change is shown by the Accommodation Services and Catering Services sector, which showed the largest increase in turnover by 128.8% compared to the second quarter of 2021. In particular, the turnover in the second quarter of 2022 it was 3.98 billion euros from 1.74 billion euros it was in 2021.

The smallest increase in turnover in the second quarter of 2022 compared to the second quarter of 2021 was shown by information and communication businesses by 14.4%, while the largest decrease was recorded by businesses in the sector related to human health and social care, by 4.2%.

The image of June

During June for all businesses in Greece that are required to keep double-entry books per month, the turnover was 34.31 billion euros, increased by 45.1% compared to last June which was 23.65 billion euros . The turnover of manufacturing increased by 49.6% in the same month to 9.07 billion euros from 6.06 last year and the wholesale – retail trade and repair of cars – motorcycles by 24.1% to 11.5 billion, from 9.2 billion which was in June 2021.

And in this case, as in the entire semester, the largest increase in turnover was presented by accommodation and catering with a percentage of 141.4% (from 509.2 million euros in June ’21 to 1.22 billion euros in June of 2022). On the contrary, the smallest increase in turnover comparing the months of June 2022 to June 2021 was recorded by mines and quarries with 0.5%, while the largest decline was seen by businesses related to human health and social care with 31 .5%.