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02-11-2022 12:24 |
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In August 2022, the Industrial Turnover Index reached 163,8 units (base 2015=100), recording an increase of 23,2% compared to August 2021. For the period January-August 2022, the index recorded an increase of 22,7% compared to the corresponding period of the previous year.  In manufacturing, the
Industrial Turnover Index for August 2022 reached 140,0 units, recording an
increase of 12,1% compared to August 2021. Increases were also noted in the
sectors of electricity supply (+57,1%), mining and quarrying (+45,4%) and
water supply and materials recovery (+36,4%).
METHODOLOGICAL
INFORMATION
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. 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) Contact Elisavet Zinonos: Tel.: +357
22602187, Email: ezinonos@cystat.mof.gov.cy Charalambos Alkiviadous: Tel.:
+357 22602189, Email: calkiviadous@cystat.mof.gov.cy |
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