Worsening expectations in Greek Industry

In its current report, the Foundation for Economic & Industrial Research (IOBE) sees worsening of expectations in Industry, which in June stood at 103.9 points, from 111.4 points in May, .

It also reports that there was a 2.6% improvement in industrial production in May compared to April. A rise of 3.2% (y-o-y) in Greece, against a rise of 2.3% in the EU27, but also a new rise in industrial exports of 16.4% in April (y-o-y). Trade deficit widened to €3.5 billion, from €2.3 billion a year ago.

Beyond that, the report states that the lowering of electricity costs continued in May, by 9.2% compared to the previous month, however, remaining at higher levels than other European markets.

Food industry

Furthermore, the food-beverage Industry‘s contribution to manufacturing is seen as important, with an added value of €3.4 billion, or 29% of the total of the manufacturing sector in 2019, marginally strengthened compared to the previous year.

It is worth noting that the Food and Beverage Industry is the largest employer in Greek manufacturing, with the number of employees exceeding 137.7 thousand, a 15% increase compared to 2020.

Exports of the food-beverage Industry amounted to 12.1% of all goods exports in 2021