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Coronavirus pandemic sends Greece business revenues down 3% in 1Q

Christian Fernsby ▼ | July 20, 2020
Most sectors of the Greek economy continued to see a contraction in their revenues in May as the the shutdown under coronavirus lockdown measures took its toll.
Athens
Sectors   Greek factories
Some business sectors witnessing a drop in their revenues of as high as 15% in the first quarter, data from the National Statistics Services or ELSTAT showed.

Enterprises and activities of the economy as a whole, first quarter turnover declined 3% to 65.0 million euros.

“Τhe largest decrease in turnover, between the first quarter of 2020 and the first quarter of 2019 was recorded from the enterprises of the section Arts, Entertainment and Recreation (14.9%),” ELSTAT said.

In contrast, the enterprises of the section Water Supply; Sewerage, Waste Management and Remediation Activities, and the enterprises of the section of Agriculture, Forestry and Fishing, recorded the largest increase in turnover, 5.8% and 5.3% respectively, in the first quarter of 2020 compared with the first quarter of 2019.

Among enterprises, obliged to double-entry accounting bookeeping, that suspended operation, .the largest decrease in turnover, between the first quarter of 2020 and the first quarter of 2019 was recorded from the enterprises of the Accommodation activity class (19.1%), while the respective smallest decrease in turnover was recorded from the enterprises in the activity class Creative Arts and Entertainment Activities (3.5%).

Enterprises under suspension of operations, obliged to double-entry accounting bookkeeping, for which data are available on a monthly basis, the turnover in May amounted to 709,442K euro, recording a decrease of 55.8% in comparison with May 2019.


 

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