The Hellenic Statistical Authority has released the latest data on the Turnover Index in Industry, revealing a positive growth trend for the month of March 2023. Based on provisional data, the Overall Turnover Index in Industry (including both the Domestic and Non-Domestic Market) experienced a 1.5% increase compared to the corresponding index in March 2022.
The March 2022 Overall Turnover Index in Industry had shown a significant surge of 38.4% compared to March 2021, indicating a remarkable growth trajectory in the sector. This year-on-year increase of 1.5% signifies the continuation of the industry’s positive performance (Table 1).
Moreover, the Overall Turnover Index in Industry for March 2023 exhibited a substantial month-on-month growth, recording a significant increase of 16.8% compared to February 2023 (Table 6). This noteworthy boost further reinforces the positive momentum witnessed in the industry.
Analyzing the data for the 12-month period from April 2022 to March 2023, the average Overall Turnover Index in Industry showcased a robust growth of 25.9% compared to the corresponding index from the previous year (Table 13). In contrast, the average index for the period from April 2021 to March 2022 experienced a growth rate of 34.6% when compared to the same period from the year before. These figures indicate a continued upward trend, albeit at a slightly slower pace.
The growth observed in the Overall Turnover Index in Industry during March 2023 can be attributed to several factors. Firstly, within the industrial sections, the Turnover Index in Mining and quarrying demonstrated a remarkable increase of 48.1%. This rise was primarily driven by the annual changes in sub-indices such as mining of metal ores, mining of coal and lignite, extraction of crude petroleum and natural gas, and mining support service activities (Table 1).
Secondly, the Turnover Index in Manufacturing exhibited a positive growth of 1.1%. This increase was mainly influenced by the annual changes in sub-indices such as tobacco products, other non-metallic mineral products, beverages, basic pharmaceutical products, and pharmaceutical preparations, as well as food (Table 1).
Further analyzing the data, the Turnover Index in Industry in the Domestic Market experienced a significant upturn of 2.7% (Table 2). This growth was driven by the annual changes in the sub-indices of mining and quarrying, particularly in mining of coal and lignite, extraction of crude petroleum and natural gas, and mining support service activities, as well as other mining and quarrying products. Additionally, the Turnover Index in Manufacturing within the Domestic Market displayed a positive growth of 2.5%, influenced by sub-indices such as electrical equipment, other non-metallic mineral products, beverages, and food (Table 2).
Conversely, the Turnover Index in Industry in the Non-Domestic Market witnessed a marginal decrease of 0.3% (Table 3). This decline can be attributed to the annual changes in the sub-indices of manufacturing, specifically electrical equipment, coke and refined petroleum products, and basic metals. However, it is worth noting that the Turnover Index in Mining and quarrying within the Non-Domestic Market experienced a notable increase of 68.3%, primarily driven by the annual change in the sub-index of mining of metal ores (Table 3).