Stournaras: Manufacturing is a growth lever for the Greek economy

Greece tin transform manufacturing into a driving unit for growth, employment and technological upgrading, with targeted policies and reforms, Bank of Greece Governor Yannis Stournaras underlined successful a conference.

Stournaras stated that contempt the important advancement of caller years, Greek manufacturing continues to lag down the European average, which highlights the request for a much targeted and coherent strategic framework.

“Manufacturing has historically been 1 of the main pillars of the Greek economy, demonstrating singular resilience against the successive crises of caller years,” said the Governor of the Bank of Greece, citing caller information that corroborate the affirmative people and betterment successful the competitiveness of the manufacturing sector, arsenic its publication to GDP accrued from 7.8% successful 2019 to 9.1% successful 2024. At the aforesaid time, successful 2024, Greek manufacture recorded 1 of the astir affirmative performances successful caller years, contributing much than immoderate different assemblage to the summation successful Gross Added Value.

Strengthening concern activity

“In caller years, concern enactment successful manufacture has been importantly strengthened, contributing to the upgrading of the accumulation base. In the play 2018-24, cumulative investments of implicit 36 cardinal euros were made, of which much than fractional was directed to manufacturing, while the stock of manufacture successful total investments accrued to 18.8% successful 2024, from single-digit percentages earlier the crisis,” noted the Governor of the Bank of Greece.

At the aforesaid time, arsenic helium said, “industrial exports strengthened importantly successful the play 2017-2024, besides expanding their stock successful total exports of goods and broadening the export predisposition of manufacturing. In particular, concern exports accrued from astir 28 cardinal euros successful 2017 to astir 49 cardinal euros successful 2024, with their stock successful total exports reaching 71% (from 67%).

“In addition, the concern accumulation scale shows a steady upward trend, with awesome resilience against the successive crises of the caller period. More specifically, the scale recovered strongly aft 2020, signaling affirmative yearly changes for astir quarters from 2021 onwards, arsenic manufacturing benefited from the betterment successful request and exports, though a mild slowdown is observed successful 2025 owed to precocious vigor costs,” Stournaras underlined, among different things.

ANA-MPA