Press Releases
31-05-2023 14:19
Turnover value index of services: 1st quarter 2023
The Turnover Value Index during the first quarter of 2023 recorded increases in the sectors of accommodation and food service activities (31,9%), of administrative and support service activities (19,1%), of professional, scientific and technical activities (8,5%) and of information and communication (1,1%) compared to the corresponding quarter of 2022.
| Table 1 | |||||
| Code NACE Rev. 2 | Sector of Economic Activity | Turnover Value Index (2015=100) | Percentage Change (%) | ||
| Q1 2022 | Q1 2023 | Q1 2023/2022 | 2022/2021 | ||
| I | Accommodation and food service activities (hotels & restaurants) | 63,4 | 83,7 | 31,9 | 39,3 |
| J | Information and communication | 220,9 | 223,3 | 1,1 | 22,0 |
| M | Professional, scientific and technical activities | 108,8 | 118,0 | 8,5 | 8,8 |
| N | Administrative and support service activities | 90,4 | 107,6 | 19,1 | 47,4 |
| Table 2 | |||
| Code NACE Rev. 2 | Division of Economic Activity | Percentage Change (%) | |
| Q1 2023/2022 | 2022/2021 | ||
| I 55 | Accommodation | 43,1 | 48,6 |
| I 56 | Food and beverage service activities | 29,5 | 32,7 |
| J 58 | Publishing activities | -11,2 | -11,3 |
| J 59 | Motion picture, video and television programme production, sound recording and music publishing act. | 1,7 | 29,7 |
| J 60 | Programming and broadcasting activities | 11,0 | 2,3 |
| J 61 | Telecommunications | -1,1 | 4,4 |
| J 62 | Computer programming, consultancy and related activities | 4,2 | 39,4 |
| J 63 | Information service activities | 10,4 | 1,4 |
| M 69 | Legal and accounting activities | 8,2 | 5,0 |
| M 70 | Activities of head offices; management consultancy activities | 6,5 | 14,4 |
| M 71 | Architectural and engineering activities; technical testing and analysis | 9,6 | 8,7 |
| M 73 | Advertising and market research | 9,3 | 11,3 |
| M 74 | Other professional, scientific and technical activities | 25,9 | 8,1 |
| N 78 | Employment activities | -9,3 | 12,4 |
| N 79 | Travel agency, tour operator reservation service and related activities | 166,5 | 271,2 |
| N 80 | Security and investigation activities | 9,2 | 7,7 |
| N 81 | Services to buildings and landscape activities | 11,8 | 16,1 |
| N 82 | Office administrative, office support and other business support activities | 10,1 | 2,8 |
Methodological Information
Scope
The Turnover Value Index of Services reflects the short-term developments related to the turnover of the enterprises operating in the sectors of accommodation and food service activities (NACE I), information and communication (NACE J), professional, scientific and technical activities (NACE M) and administrative and support service activities (NACE N).
Data Collection
The survey is carried out on a sample basis and concerns enterprises that are classified under the sectors mentioned above. The data collection is performed by telephone, fax or e-mail. The data are collected on a quarterly basis.
Compilation Method
The turnover index is produced for the various divisions of the Statistical Classification of Economic Activities (NACE Rev. 2) that constitute the sector of Services. The base year for the index is 2015, meaning that it shows the changes in turnover of the reference period in relation with the average turnover of the year 2015. For the base year, the average of the quarterly indices is 100. The weights used are derived from the total sales of the enterprises in the base year (2015) and reflect the turnover of each division in relation to the total turnover of the sector.
The compilation of the Turnover Value Index of Services follows the provisions of Regulation (EU) 2019/2152 on European business statistics.
For more information:
CYSTAT Portal, subtheme Services
CYSTAT-DB (Online Database)
Predefined Tables (Excel)
The Predefined Tables, available in Excel format, include data up to the fourth quarter of 2022. Data from the first quarter of 2023 onwards are available only in the CYSTAT-DB Online Database.
Contact:
Panagiotis Lymperopoulos: Tel: +357 22605130, E-mail: plymperopoulos@cystat.mof.gov.cy
(NG/ECR)
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