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Greek businesses' revenues plunge 25% in 2Q

Christian Fernsby |
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.

Topics: GREEK   

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%.

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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