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Greek businesses' revenues plunge 25% in 2Q

Christian Fernsby ▼ | October 17, 2020
Greek businesses and economic activity witnessed an over 25% annual decline in their revenues in the second quarter, data from the National Statistics Services or ELSTAT showed.
Greece
Revenues   Greece
Second quarter revenues amounted to 59.0 billion euros, while the steepest decline in revenue was observed in the section of accommodation and food services activities, -78.8%.

Topics: Greek

In contrast, “the smallest decrease in turnover, between the second quarter of 2020 and the second quarter of 2019, was recorded from the enterprises of section Public Administration and Defense; Compulsory Social Security (0.5%) and the section Agriculture, Forestry and Fishing (3.4),” ELSTAT said.

Enterprises, obliged to double-entry accounting bookkeeping, for which data are available on a monthly basis, experienced a 20% annual decline in revenues.

The 205,984 enterprises that were under suspension of operation, registered a 56% decline in their second quarter turnover to 3.2 billion euros.

The businesses that suspended operation experienced a 37% drop in August revenues.


 

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