Press Releases

Increase in Value Added in the Industrial Sector by 7,2% 

According to the results of the Survey on Industrial Production 2022, employment in the broad industrial sector increased in 2022 by 3,0%, to 42,1 thousand compared to 40,9 thousand persons in 2021. In manufacturing employment reached 37,1 thousand, in mining and quarrying 0,6 thousand, in electricity supply 2,2 thousand and in water supply, sewerage and waste management also 2,2 thousand persons.

In the whole of the industrial sector, production value at current prices recorded an increase of 21,2% to €6.581,7 million in 2022 compared to €5.430,7 million in 2021. In manufacturing, production value increased by 12,7% to €4.509,7 million, in electricity supply by 52,1% to €1.437,2 million, in water supply, sewerage and waste management by 16,9% to €477,5 million and in mining and quarrying by 110,8% to €157,2 million.

Value added at current prices increased by 7,2% in the total of industry and reached €2.018,9 million in 2022 compared to €1.882,5 million in 2021. In manufacturing, value added increased by 3,7% to €1.472,5 million, in electricity supply by 25,4% to €303,0 million, in water supply, sewerage and waste management by 4,6% to €199,0 million and in mining and quarrying by 43,8% to €44,5 million.

* Annual percentage change of 2022 compared to 2021.

Methodological Information

Definitions

Employment: The average number of employees and self-employed persons during the year, in full time equivalent terms.

Production value: The value of goods produced, services rendered to others, net receipts from the sale of goods sold in the same condition as purchased, other income and changes in the value of work-in-progress at the end of the year.

Value added at current prices: Derived by deducting from the production value the aggregate costs of all materials used, other production expenses, administrative expenses and rents paid for buildings and machinery.

Coverage and collection of data

The Industrial Production Survey covers a sample of around 1.420 enterprises with main activity falling under sections B, C, D and E of the classification system of economic activities NACE Rev. 2 of the European Union.

The collection of data by the Statistical Service is done by personal interviews, by phone interviews, by email and using administrative sources.

For more information visit the CYSTAT Portal, subtheme Industry, Predefined Tables (Excel), Methodological Information or contact Mr Charalambos Alkiviadous: tel: 22602189, e-mail: calkiviadous@cystat.mof.gov.cy or Ms Evangelia Menelaou: tel.: 22602165, e-mail: emenelaou@cystat.mof.gov.cy.

(MS)