The Resilience of Greece’s Food and Drink Industry
Greece’s food and drink industry has maintained its position as the largest manufacturing sector in the country, even during times of crisis. This industry not only boasts the highest number of businesses and employees, but also contributes significantly to the overall gross added value of Greek manufacturing.
Investing in Innovation
Although Greek businesses lag behind the European average in research and development spending, the food and beverage sector stands out for its commitment to innovation. These industries are leading the way in investing in research and development, recognizing its importance for future growth and competitiveness.
A Leading Manufacturing Industry
Recent studies conducted by the Foundation for Economic and Industrial Research (IOBE) on behalf of the Association of Greek Food Industries reveal that food and drink companies make up 28.1% of all manufacturing businesses in Greece. With 56,604 enterprises in this sector, food and drink manufacturing takes the top spot, followed by metal products (13.9%) and machinery and equipment repair (8.2%).
The food and drink industry in Greece is dynamic and continues to grow, showcasing its resilience and importance to the country’s economy.
Manufacturing Sector Contribution to the Economy
The manufacturing sector plays a significant role in the economy, with a production value amounting to 24.4% of the total manufacturing value. This sector encompasses a wide range of industries, including basic metals, metal products, chemical products, and pharmaceuticals.
Investments in Research and Development
One of the key areas of focus within the manufacturing sector is investments in research and development. This is particularly evident in the pharmaceutical industry, where investments are being made in both the development of new drugs and the production process. These investments are crucial for driving innovation and maintaining competitiveness in the global market.
