ELSTAT: Greek companies managed through in Q1

Greek companies resisted the financial crisis due to the pandemic, as according to the data of the Hellenic Statistical Authority, they recorded a drop of only 5.4% in turnover in the first quarter. And this despite the universal lockdown due to the pandemic.

For all businesses and activities of the economy, the turnover in the first quarter 2021 amounted to 63,560,924 thousand euros, recording a decrease of 5.4% compared to the first quarter of 2020, which had reached 67,158,036 thousand euros .

The largest increase in turnover by 12.5%, between the first quarter of 2021 and the first quarter of 2020 was presented by companies in the sector of Agriculture, Forestry, and Fisheries.

The largest decrease in turnover by 70.4%, between the first quarter of 2021 and the first quarter of 2020 was shown in companies in the Arts and Entertainment sector, while the smallest decrease in turnover by 1.6% was presented by companies in the Constructions sector.

The picture in March

For all businesses in the economy with the obligation to maintain ledgers, for which data are available on a monthly basis, the turnover in March 2021 amounted to 19,925,062 thousand euros, an increase of 13.0% compared to March 2020, when it had amounted to 17,627,695 thousand euros.

The sector Activities Related to Human Health and Social Welfare recorded the largest increase in turnover by 35.6% in March 2021 compared to March 2020.

Companies in the Arts and Entertainment sector recorded the largest decrease in turnover by 56.0% in March 2021 compared to March 2020, while the smallest decrease in turnover by 3.0% was presented by companies in the Transport and Storage sector.

For the 210,217 companies that began operating in March 2020, the turnover in the first quarter of 2021 amounted to 2,773,843 thousand euros, recording a decrease of 39.1% compared to the first quarter of 2020, when it had reached 4,554,288 thousand euros.

Companies in the sector Architectural and Engineering Activities; Technical tests and Analyses registered an icrease in turnover by 21.7% between the first quarter of 2021 and the first quarter of 2020..

The largest decrease in turnover by 92.6%, between the first quarter of 2021 and the first quarter of 2020 was registered by companies in the production of film, video and television programs, recordings and music publications, while the smallest decrease in turnover by 4 , 1% was registered by companies in the sector Hospice activities without accommodation.

Companies under suspension due to the pandemic

For the companies that started activities in March 2020 with the obligation to maintain ledgers, for which data are available on a monthly basis, the turnover in March 2021 amounted to 500,658 thousand euros, recording a decrease of 20.2% compared to March 2020, when it had amounted to 627,165 thousand euros.

The largest increase in turnover by 102.8% in March 2021 compared to March 2020 was presented by companies in the sector sector Architectural and Engineering Activities; Technical tests and Analyses.

Companies in the production of film, video and television programs, recordings and music publications recorded the largest decrease in turnover by 88.8% in March 2021 compared to March 2020 was presented by, while the smallest decrease in turnover by 0.04 % presented by companies in the sector Retail trade, excluding motor vehicles and motorcycles.

Compared to the companies that began operation in March 2020, in November 2020 the companies belonging to the sector Activities of travel agencies, tour operators and booking services and related activities and companies belonging to the sector in the field Human health activities were also suspended.

Companies that were closed

According to ELSTAT data, the number of companies suspended in March 2020, based on the new identification framework amounted to 210,217 companies, which corresponds to 14.8% of all companies in the Greek Economy.

The largest percentage of companies in suspension was recorded in the sector of Education (89.3%) and then in the sector Activities of Accommodation Services and Catering Services (85.0%).

The corresponding lower percentages were recorded in the sector a Professional, Scientific and Technical Activities (0.2%) and in the Information and Communication sector (1.1%).

In the following sectors of economic activity there are no companies in mandatory suspension:

-Agriculture, Forestry and Fisheries

-Mining and Quarries

-Processing

-Supply of Electricity, Natural Gas, Steam, and Air Conditioning

-Water Supply, Sewage Treatment, Waste Management, and Remediation Activities

-Constructions

-Transportation and Storage

-Financial and Insurance Activities

-Real estate management

-Public Administration and Defense, Compulsory Social Security.