Statistical authority ELSTAT data shows production increased in 12 of the 24 industrial sectors in Greece during the first two months of 2014, compared to the same period last year.
This phenomenon is partly due to increased domestic demand, although industrial exports dipped slightly. ELSTAT reported manufacturing in Greece increased by 1.5% in the first two months of the year; 1% in January and 1.9% in February. However, the recession has squeezed industrial production down by 34% since 2005.
The industrial sectors that have reported recovery are the following: electronics and optical goods (up 107.3%); machine repair/installation (15.2%); vehicles (74%); machinery (14.3%); furniture (9.3%); plastics (7.3%); chemicals (5.1%); basic metals (4.8%); oil products (3.5%); paper (2.5%), printing and media reproduction (1.3%) and food (1.2%).
The remaining dozen industrial sectors in which production decreased in the first two months of 2014, compared to the same period in 2013, are timber (-32.7%); tobacco (-16.8%); electrical equipment (-16.7%); textile materials (-14.3%); metallic goods (-13.4%); leather and footwear (-13%); clothing (-7.7%); transport equipment (-6.3%) drinks (-4.2%); non-metallic ores (-3%); medication (-0.4%) and other products (-9.1%).
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