Investor Presentaiton
Economic activity remained resilient against rising global headwinds in 1H22, with tourism heading to a new all-
time high, sustaining the upward trend in domestic demand and favorable labor market conditions
NATIONAL BANK
OF GREECE
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Key indicators point to resilient growth in 2Q22
International arrivals at AIA close to their pre-Covid level
40
40
2.5
2.5
y-o-y
mn persons
30
30
2.0
2.0
20
20
10
10
1.5
1.5
0
0
1.0
-10
-10
10
1.0
10
-20
-20
0.5
May-22
Manufacturing production (2M m.avg.)
Goods exports (excluding oil & ships, nominal)
Retail trade (volume, y-o-y)
Unemployment to 12-year low & employment up by 10.9%
in 4M22, with further acceleration in hiring in May-June
16y-o-y
12
62840
0
-4
-8
-12
-16
Apr-12
Dec-12
Aug-13
Apr-14
Dec-14
Aug-15
Employment growth (left axis)
National Bank of Greece 2Q22 results
00
0.0
2019
2020
յոր
2021
0.5
per month
0.0
Monthly evolution of non-oil goods exports and tourism
receipts per annum – strong turnaround in services exports
-
30
6.0
%
€bn
25
5.0
20
4.0
10
15
3.0
10
2.0
5
Apr-22
1.0
Apr-16
Dec-16
Aug-17
Apr-18
Dec-18
Aug-19
Apr-20
Dec-20
Aug-21
Unemployment rate (right axis)
Sources: ELSTAT, Bank of Greece, European commission, Athens International Airport, Eurocontrol
Macro
2019
2020
2021
S
2022
2022
6.0
5.0
4.0
3.0
2.0
1.0
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