Losses of 1.82 billion euros in business turnover in February

Greek companies recorded losses of 1.82 billion euros in their turnover in the month of February 2021, as shown by the data of Hellenic Statistical Authority ELSTAT.

In particular, for all enterprises of the economy  mandatory bookkeeping, for which data are available on a monthly basis, the turnover in February this year amounted to 17,231,465 thousand euros, a decrease of 9.6% compared to February 2020, which had amounted to 19,052,382 thousand euros.

The largest decrease (62%) was presented by the companies in the sector “Arts, entertainment and leisure” and the smallest (0.1%) by the companies in the sector “Electricity, gas, steam and air conditioning”. On the other hand, the largest increase (6.9%) was presented by the companies in the sector “Water supply, wastewater treatment, and waste management and reclamation activities”.

Businesses οn suspension

Regarding the companies that were put on suspension of operation in March 2020 with, for which data are also available on a monthly basis, the turnover in February 2021 amounted to 582,886 thousand euros, a decrease of 47.7% compared to February last year, which had amounted to 1,115,479 thousand euros.

The largest decrease (95.2%) was presented by the companies in the sector “Production of films, videos and television programs, recordings, and music publications” and the smallest (2.9%) by the companies in the sector “Sports activities and entertainment activities”. In contrast, the largest increase (34.7%) was presented by the companies in the sector “Architectural and engineering activities, technical tests and analyses”.

According to ELSTAT, compared to the companies that were put into suspension of operation in March last year, in November 2020, companies belonging to the sector “Activities of travel agencies, organized travel agencies and reservation services and related activities” and companies that belonging to the sector “Human health activities were also suspended.

15.1% of businesses suspended

The number of companies suspended in March 2020, based on the new identification framework, amounted to 219,283 companies, which corresponds to 15.1% of all companies in the Greek economy. The largest percentage of companies in suspension was recorded in the sector of “Education” (89.9%) and then in the sector “Activities of accommodation services and food services” (84.4%). The lowest percentages were recorded in the sector “Professional, scientific, and technical activities” (0.2%) and in the section “Information and communication” (1.1%).

While, in the following sectors of economic activity there are no companies in mandatory suspension of operation: “Agriculture, forestry and fisheries”, “Mines and quarries”, “Processing”, “Electricity, gas, steam, and air conditioning”, “Water supply, Sewage treatment, Waste management and reclamation activities “,” Construction “,” Transport and storage “,” Financial and insurance activities “,” Real estate management “and” Public administration and defense, compulsory social security “.