Food & Beverages

Food industry becomes important part of Greek manufacturing sector

According to data released by the Foundation for Economic and Industrial Research (IOBE),the Greek food industry elevated the greatest share of organizations in manufacturing and has became the biggest employer while enjoying being second highest turnover in the country’s secondary sector.

The food industry comprises for 25 percent of all manufacturing companies in Greece, which is far ahead of metallurgical firms accounting to 13 percent and apparel companies which is at 12 percent. The Food corporations also provide employment to 28 percent of people who work in Greek manufacturing units, while metals producers account for 9 percent and apparel at just 6 percent.

The presence of food sector is essential for the economy of the country, as the value of its output is about 20 percent of the total in the manufacturing sector and gross added value is more than 26 percent. Food industry ranks second in turnover with 22 percent, which is behind fuel and other refinery products resting at 33 percent.

The food sector in Greece is ruled by small-scale companies, both in food (95 percent) and drinks (87 percent). Majority of these units are very small, employing no more than nine people. On the contrary, in terms of turnover, large companies that employ more than 250 people account for large shares of their respective sector which is 36 percent in food and 57 percent in drinks.

Number of these small units is about 13,000. Very small food companies are behind a significant 18.2 percent of annual turnover, while the same share in drinks firms comes to around 7.8 percent, given that they are just 661 in number.

When talking about total food production value and gross added value, the highest share of 36 percent goes to very large enterprises, large companies that employs between 50 and 249 people covering 33 percent, with 27 percent of employees. Very big food enterprises employ 29 percent of the sector’s staff, behind them are very small companies that employ 32 per cent of the staff. In the drinks sector 41 percent of employees work at very large companies and 28 percent at large companies.

Leave a comment