Up 1.5% year on year but 16.8% month on month, trade turnover index in industry in March 2023, which is largely due to increased product prices but also in the recovery seen in industrial production after the “numbness” caused in the previous period by the energy crisis, which even led to the cancellation of orders in 2022.

According to data released yesterday Hellenic Statistical Office (ELSTAT), the total industry turnover index (total domestic and foreign market) for March 2023 compared to the corresponding index for March 2022 showed an increase of 1.5% compared to an increase of 38.4% recorded in the corresponding comparison in 2022 Since 2021, the sector-wide trade turnover index for March 2023 compared with the corresponding indicator for February 2023 showed an increase of 16.8%. The average overall index for the 12 months from April 2022 to March 2023 compared to the index for the 12 months from April 2021 to March 2022 showed an increase of 25.9% compared to an increase of 34.6%, recorded when comparing the corresponding previous twelve months.

The increase of 1.5% year on year is due to the fact that the individual turnover index of quarry mines increased by 48.1%, while the turnover index in the manufacturing industry strengthened only by 1.1%. It is also worth noting that the domestic market turnover index strengthened year on year by 2.7%, and the external market turnover index by only 0.3%, which is interpreted as follows: a slowdown in the receipt of orders from abroad and mainly the preservation of product prices sold outside of Greece at a more competitive level so as not to “lose” foreign markets.

The 16.8% increase in the index in March 2023 compared to February 2023 is due to an increase in the mining industry turnover index by 23.8% and a 16.7% increase in the manufacturing industry turnover index. However, the growth in both the foreign market and the domestic market had a much smaller difference. In particular, the turnover of the foreign market increased on a monthly basis by 17.7%, and the corresponding indicator of the domestic market – by 16.3%.