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02-06-2023 14:42

Industrial Turnover Index: March 2023

Annual Change +13,7%

In March 2023, the Industrial Turnover Index reached 196,7 units (base 2015=100), recording an increase of 13,7% compared to March 2022. For the period January – March 2023, the index recorded an increase of 15,2% compared to the corresponding period of the previous year.

In manufacturing, the Industrial Turnover Index for March 2023 reached 191,1 units, recording an increase of 14,1% compared to March 2022. Increases were also noted in the sectors of mining and quarrying (+42,0%) and electricity supply (+13,6%). The water supply and materials recovery sector recorded a decrease of 2,5% compared to March 2022.

Table
Code (NACE Rev. 2)	Economic Activity	Index (2015=100)	Percentage Change (%)
Code (NACE Rev. 2)	Economic Activity	Mar2023	Mar2023/ Mar2022	Jan-Mar2023/ Jan-Mar2022
Β	MINING AND QUARRYING	300,4	42,0	36,8
C	ΜANUFACTURING	191,1	14,1	14,8
10+11+12	Manufacture of Food Products, Beverages and Tobacco Products	168,3	19,6	19,8
13+14+15	Manufacture of Textiles, Wearing Apparel and Leather Products	157,1	15,9	10,3
16	Manufacture of Wood and Products of Wood and Cork, except furniture	246,1	8,2	4,8
17+18	Manufacture of Paper and Paper Products and Printing	116,6	21,2	21,4
19+20+21	Manufacture of Refined Petroleum Products, Chemicals and Chemical Products and Pharmaceutical Products and Preparations	192,7	14,4	14,0
22	Manufacture of Rubber and Plastic Products	186,4	12,9	3,6
23	Manufacture of Other Non-Metallic Mineral Products	258,3	28,6	28,7
24+25	Manufacture of Basic Metals and Fabricated Metal Products	293,5	5,3	6,2
26+27	Manufacture of Electronic and Optical Products and Electrical Equipment	129,6	43,2	-20,2
28+29+30	Manufacture of Machinery and Equipment, Motor Vehicles and Other Transport Equipment	163,3	13,2	27,9
31+32+33	Manufacture of Furniture, Other Manufacturing and Repair and Installation of Machinery and Equipment	193,9	-17,3	1,3
D	ELECTRICITY SUPPLY	219,8	13,6	19,4
Ε	WATER SUPPLY AND MATERIALS RECOVERY	179,7	-2,5	-3,0
36	Water Collection, Treatment and Supply	146,9	-0,1	-7,3
38.3	Materials Recovery	227,6	-4,7	1,2
B+C+D+E	GENERAL INDEX	196,7	13,7	15,2
	Local	199,2	14,6	16,2
	Export	183,3	8,5	10,0

Methodological Information

Scope
The Industrial Turnover Index reflects the monthly changes of turnover in the branches of mining and quarrying, manufacturing, electricity supply, water supply and materials recovery, that is, sections B, C, D and E of the statistical classification of economic activities NACE Rev. 2 of the European Union. The index does not include sewerage, waste collection, treatment and disposal and remediation activities, which are codes 37, 38.1, 38.2 and 39 of section E. The aggregated index is broken down to local market and export market index. The index is also compiled by main industrial groupings: intermediate goods, energy, capital goods, durable consumer goods and non-durable consumer goods.

Data Collection

The collection of data is conducted by the Statistical Service by telephone enquiries, fax or e-mail. The data collection starts five to ten days after the end of the reference period and is normally completed within two months. The mining and quarrying sector covers all major quarrying products but not the support activities for the extraction of natural gas. For manufacturing, all enterprises with turnover 1.700.000 Euros and over or with 20 or more employees are included in the survey and a sample is selected from enterprises employing less than 20 persons. The Electricity Authority of Cyprus provides sales data, while data are also collected from water distribution and desalination enterprises.

Compilation Method and Dissemination Practices

The Industrial Turnover Index is using 2015 as base year, meaning that it shows the monthly changes in turnover in relation with the monthly turnover average of the year 2015. In the base year, the average of the turnover indices for the twelve months is 100,0. For example, a monthly turnover index of 112,4 means that the turnover for the specific month has increased by 12,4% in relation to the average monthly turnover of 2015.
The aggregated Industrial Turnover Index is a weighted average of the turnover indices of the various sub-sectors of Industry, as determined in the statistical classification of economic activities NACE Rev. 2. The weights used are derived from the total sales of the enterprises in the base year (2015) and reflect the turnover of each sub-sector in relation to the total turnover of the Industrial sector.
The compilation of the Industrial Turnover Index follows the provisions of Regulation (EU) 2019/2152 on European business statistics. The Index is transmitted every month to the Statistical Office of the European Union (Eurostat).

For more information:

CYSTAT Portal, subtheme Industry

CYSTAT-DB (Online Database)

Predefined Tables (Excel)

The Predefined Tables, available in Excel format, include data up to December 2022. Data from January 2023 onwards are available only in the CYSTAT-DB Online Database.

Contact:

Elisavet Zinonos: Tel.: +357 22602187, Email: ezinonos@cystat.mof.gov.cy

Charalambos Alkiviadous: Tel.: +357 22602189, Email: calkiviadous@cystat.mof.gov.cy

(NG/ECHR)

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