Greece’s industrial production saw a 6.7% increase in May 2024, with manufacturing production rising by 4.4%, according to the country’s statistical authority, ELSTAT.
The overall Industrial Production Index (IPI) in May 2024 recorded an increase of 6.7% compared with May 2023. While the overall IPI in May 2023 had increased by 2.3% compared with the corresponding index in May 2022.
The average overall Industrial Production Index for the period from January to May 2024 recorded an increase of 5.8% compared with the average IPI of the period from January to May 2023.
The seasonally adjusted overall Industrial Production Index in May 2024 recorded a decrease of 3.4% compared with the corresponding index of April 2024.
The index of fabricated metal products, except the machinery and equipment division, showed the greatest percentage decrease, whereas the index of other transport equipment divisions recorded the greatest percentage increase in May 2024 compared with April 2024.
Comparing the indices of May 2024 with the corresponding indices of May 2023, the greatest percentage increase was recorded in electricity supply division, while the highest percentage decrease was recorded in mining of metal ores division
The 6.7% increase in Greece’s Industrial Production Index in May 2024, compared to May 2023, is attributed to significant changes in various industrial sectors, according to ELSTAT.
Key contributors include a 21.2% rise in the Electricity Supply Index, a 4.4% increase in the Manufacturing Index driven by gains in coke and refined petroleum products, other transport equipment, computers, electronic and optical products, beverages, and food, and a 3.5% increase in the Water Supply Index.
However, there was a 2.4% decline in the Mining and Quarrying Index, primarily due to drops in the mining of metal ores, coal and lignite, crude petroleum and natural gas extraction, and mining support activities.
