Industry turnover up by 33% in 2022 – 19.5% in the EU

The course for the turnover in industry in 2022 proved to be particularly positive, something that is also reflected in a special report by Foundation for Economic & Industrial Research-IOBE.

As recorded in this report, last year there was a rise in the industry turnover index of 33% in 2022 in Greece compared to 19.5% in the EU, which shows that the picture was much better in Greece.

It is worth noting that there was a 20.1% improvement in the fourth quarter of 2022 compared to a year ago at the domestic level, compared to a 15.9% increase in the European Union of 27.

ELSTAT – 23.6% increase in the General Index of Import Prices in Industry in December 2021

According to the data, with regard to the individual sectors, there was an increase in turnover in 2022 compared to a year ago for Tourism, and in fact to 58.8% from 58.9% in 2021. There was also a significant increase for Arts and entertainment (44.3% from 15.2% in 2021) and Manufacturing (40.5% from 25.9% a year ago).

Administrative activities and Transportation and storage followed, rising by 36.2% and 35.5%, respectively, in 2022, up from 26.1% and 29.3%, respectively, a year ago.

At slightly lower levels were Education and Construction, with an increase of 33.3% and 26.7%, respectively, against a rise of 15.5% and 9.5%, respectively in 2021.

Other service activities saw a boost of 22.8% in 2022 versus 14.3% a year ago.

Increase in turnover for the Wholesale & Retail trade and the Primary sector, both in the region of 20%, following a rise of 14.1% and 15.6%, respectively, a year ago.

Total business saw a 35.5% improvement in 2022 versus a milder 19.7% increase a year earlier.

Excluding refined petroleum products

Within the industrial sectors, and excluding refined petroleum products, the highest annual increase in turnover in 2022 stood out to Base Metals, with a rise of 78% following a rise of 44.2% a year earlier.

Transport Equipment followed, up 49%, from a milder boost of 7.4% in 2021.

An improvement in turnover was recorded in Machinery Repair, by 33.6% following a rise of 12.6% a year ago.

At lower levels were found Chemicals and Paper Products with a rise in turnover for both in the region of 27.3%  in 2022, from a rise of 17% and 11.6%, respectively, in 2021.

In the Industry as a whole, the rise in turnover exceeded 40% in the previous year from 25.6% in 2021.