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Economy

Greek Enterprises Lost 4.2 Billion Euros in Turnover due to the Pandemic

September 17, 2020

ATHENS — Greek enterprises with an obligation to double-entry bookkeeping suffered losses in turnover of around 4.2 billion euros, or 17.5 pct, in July 2020 because of the pandemic, in comparison with July 2019, Hellenic Statistical Authority said on Thursday. The biggest hit was suffered by enterprises in the hospitality sector (-71.4 pct), while the enterprises in the mining sector recorded the biggest increase (11.4 pct).

The statistics service said that accumulated turnover fell to 19.832 billion euros in July this year from 24.026 billion in the same month in 2019. Enterprises that have suspended operations under state order saw their turnover falling 41.1 pct by 1.388 billion euros in July from 2.358 billion in July last year, with the accommodation sector recording the biggest decline (-76.8 pct) and the gambling and betting sector reporting a 6.5 pct increase in turnover.

The statistics service said that overall, enterprises hit by the pandemic saw their turnover falling 25.1 pct in the second quarter of 2020 to 58.988 billion euros, from 78.800 billion in the same period last year, with the accommodation sector recording a 78.8 pct decline. In the same period, enterprises suspending operations by state order saw their turnover falling 55.9 pct to 3.233 billion euros from 7.329 billion in 2019, with the accommodation sector recording a 94.7 pct drop in turnover.

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