Industry revenue of »retail sale of hardware, paints and glass« in Greece 2011-2023

Building completing and finishing activities in Greece, which include activities such as joinery installation, painting and glazing, floor and wall covering and plastering to name a few, have declined drastically post 2008, owing to the high unemployment rate coupled with low consumer spending and tepid construction activity. This has not augured well for the hardware, paints and glass retail industry, with revenues declining from 2.6 billion U.S. dollars in 2011 to 526 million U.S. dollars in 2019. Additionally, with the rising national debt levels and low business and consumer confidence levels, many manufacturers are ceasing production activity or shifting to other low cost and profitable bases. As a result, the industry is expected to be defunct in the medium term, relying solely on imports.

Some of the other industries that are expected to be defunct in the short to medium term include the motor vehicles and trailers manufacturing industry and the coke and refined petroleum products manufacturing industry.