Industry – Strong rise in exports – Declining business expectations

Increasing the volume of exports of industry, slightly higher increase of fixed investments, but also decline of business expectations are the trends that stand out in the “Bulletin of Developments in Industry” published by the Foundation for Economic and Industrial Research (IOBE).

In particular, according to the IOBE bulletin for industry:

• Unemployment continued to decline in October (y-o-y), mainly due to rising employment.
• A slight decline in the economic climate in December and a weakening of consumer confidence.
• Marginal decline of business expectations in Industry, at 109.1 units. in December, from 110.2 units. In November.
• Industrial production fell 1.2% in November compared to October. Significant increase of 8.0% (y-oy) in Greece, compared to a marginal increase of 0.3% in the EU27.
• Significant increase in industry exports 11.8% in October (y-o-y). Trade deficit increase to € 2.9 billion, from € 1.7 billion a year ago.
• New increase in electricity costs in November, by 16.1% compared to the previous month.
• Increase in the export volume of industry 4.9% in October 2021 compared to a year ago. An increase of 6.6% in the first eight months of 2021 compared to the corresponding period of 2020.
• At product level, the highest increase in the volume of exports of Organic Chemicals (28.3%) and Minerals (26.3%). Significant increase for leading industrial products, in Iron and Steel (12.4%), Plastics in primary forms (10%), as well as Aluminum, 9.8%.