Greece’s Industrial Production Rises 5.8% in December

Industrial production in Greece recorded a 5.8% increase in December 2024 compared to the same month in 2023, with the manufacturing sector specifically growing by 3.6%, according to data released by the Hellenic Statistical Authority (ELSTAT). This rise outpaced the 4.5% increase observed in December 2023 compared to December 2022.

For the entire year, the average General Index of Industrial Production increased by 5.2% in comparison to the corresponding period in 2023. Meanwhile, the seasonally adjusted index for December 2024 rose by 2.4% compared to November 2024, highlighting a steady upward trend in industrial output.

Among individual sectors, the manufacturing of motor vehicles, trailers, and semi-trailers recorded the highest percentage increase on a monthly basis. In contrast, the leather and leather goods industry experienced the sharpest decline.

When comparing December 2024 to December 2023, the production of computers, electronics, and optical products showed the most significant growth, while the leather industry again saw the largest contraction.

The overall increase in industrial output was driven primarily by a 16.4% surge in electricity supply, a 5.7% rise in water supply, and a 3.6% boost in manufacturing.

Notable contributors within the manufacturing sector included a remarkable 61.7% growth in the production of computers and electronics, a 32.7% rise in tobacco products, a 25.7% increase in motor vehicle production, a 14.7% uptick in basic metal manufacturing, and a 14.5% expansion in other manufacturing activities.

On the other hand, mining and quarrying were the only industrial segments to decline, with a 4.3% drop compared to the previous year.

The data confirms a sustained recovery in industrial activity, with key manufacturing industries showing resilience and expansion despite sectoral disparities.