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Annual Change +2.6%
In January 2024, the Index of Industrial Turnover reached 121.1 points (base 2021=100), an increase of 2.6% compared to January 2023.
In the manufacturing sector, the index reached 116.6 points in January 2024, an increase of 7.3% compared to January 2023. The water supply and materials recovery sector also rose by 19.5% and mining and quarrying by 17.7%. A decrease was observed in electricity supply by 15.8%.
| Table |
[TR] [TD]
Code (NACE
Rev. 2)
[/TD] [TD]Economic Activity
[/TD] [TD]Index (2021=100)
[/TD] [TD] [TD]Percentage Change (%)
[/TD] [/TD] [/TR] [TR] [TD]Jan 2024
[/TD] [TD]Jan 2024/2023
[/TD] [TD]Jan-Dec 2023/2022
[/TD] [/TD] [/TR] [TR] [TD]B
[/TD] [TD]METALS AND STORAGE
[/TD] [TD]139,7
[/TD] [TD]
17,7
[/TD] [TD]18,1
[/TD] [/TR] [TR] [TD]C
[/TD] [TD]TRANSFORMATION
[/TD] [TD]116,6
[/TD] [TD]7,3
[/TD] [TD]8.0
[/TD] [/TD] [/TR] [TR] [TD]10+11+12
[/TD] [TD]Food Industry, Beverages and Tobacco Products
[/TD] [/TD] [TD]112.6
[/TD] [TD]3.0
[/TD] [TD]8.5
[/TD] [/TR] [TR] [TD]13+14+15
[/TD] [TD]Manufacture of textiles, Clothing and leather goods
[/TD] [/TD] [TD]98,1
[/TD] [TD]9,0
[/TD] [TD]8,9
[/TD] [/TR] [TR] [TD]16
[/TD] [TD]Manufacture of wood and articles of wood and cork, except furniture
[/TD] [/TD] [TD]119,9
[/TD] [TD]13,0
[/TD] [TD]8,0
[/TD] [/TR] [TR] [TD]17+18
[/TD] [TD]Manufacture of paper and paper products and printing
[/TD] [TD]103,6
[/TD] [TD]-11.5
[/TD] [TD]-1.5
[/TD] [/TD] [/TR] [TR] [TD]19+20+21
[/TD] [TD]Manufacture of refined petroleum products, chemical substances and products and pharmaceutical products and preparations
[/TD] [TD]116,3
[/TD] [TD]-7.5
[/TD] [TD]6.6
[/TD] [/TR] [TR] [TD]22
[/TD] [TD]Manufacture of rubber and plastic products
[/TD] [TD]111,4
[/TD] [TD]8,4
[/TD] [TD]0,2
[/TD] [/TR] [TR] [TD]23
[/TD] [TD]Manufacture of other non-metallic mineral products
[/TD] [TD]122,4
[/TD] [TD]5,2
[/TD] [TD]15,9
[/TD] [/TR] [TR] [TD]24+25
[/TD] [TD]Production of Basic Metals and Manufacture of Metal Products
[/TD] [TD]124.1
[/TD] [TD]21.3
[/TD] [TD]6,8
[/TD] [/TR] [TR] [TD]26+27
[/TD] [TD]Manufacture of electronic and optical products and electrical equipment
[/TD] [TD]83,7
[/TD] [TD]70,1
[/TD] [TD]13,8
[/TD] [/TD] [/TR] [TR] [TD]28+29+30
[/TD] [TD]Manufacture of machinery and equipment, motor vehicles and other transport equipment
[/TD] [/TD] [TD]164,9
[/TD] [TD]14.4
[/TD] [TD]15.7
[/TD] [/TD] [/TR] [TR] [TD]31+32+33
[/TD] [TD]Manufacture of Furniture, Other Manufacturing Activities and Repair and Installation of Machinery and Equipment
[/TD] [/TD] [TD]122,3
[/TD] [TD]24.5
[/TD] [TD]0.2
[/TD] [/TR] [TR] [TD]
D
[/TD] [TD]ELECTRICITY SUPPLY
[/TD] [TD]140,6
[/TD] [TD]-15.8
[/TD] [TD]-1,5
[/TD] [/TR] [TR] [TD]E
[/TD] [TD]WATER SUPPLY AND MATERIALS RECOVERY
[/TD] [TD]125.6
[/TD] [TD]19,5
[/TD] [TD]
-1.4
[/TD] [/TR] [TR] [TD]36
[/TD] [TD]Collection, Water Collection, Treatment and Supply
[/TD] [/TD] [TD]140.7
[/TD] [TD]39.9
[/TD] [TD]10.6
[/TD] [/TR] [TR] [TD]38.3
[/TD] [TD]Materials Recovery
[/TD] [TD]108.5
[/TD] [TD]-1.6
[/TD] [TD]-16,2
[/TD] [/TR] [TR] [TD]
B+C+D+E
[/TD] [TD]GENERAL FIGURE
[/TD] [TD]121.1
[/TD] [TD]2.6
[/TD] [TD]5,7
[/TD] [/TR] [TR] [TD][/TD] [TD]
Domestic
[/TD] [TD]124,7
[/TD] [TD]4,7
[/TD] [TD]6,1
[/TD] [/TR] [TR] [TD] [/TD] [TD]Export
[/TD] [TD]103.1
[/TD] [TD]-8.2
[/TD] [TD]3,8
[/TD] [/TD] [/TR]
Methodological Information
Purpose
The Industrial Turnover Index expresses the monthly change in turnover in the mining and quarrying industries, manufacturing, electricity supply, water supply and materials recovery, i.e. sectors B, C, D and E of the statistical classification of economic activities NACE Rev. 2 of the European Union. The indicator excludes waste water treatment, collection, treatment and disposal of waste and remediation activities, i.e. codes 37, 38.1, 38.2 and 39 of sector E. The total indicator is broken down into a domestic market indicator and an export indicator. An index is also compiled by main industrial groupings: intermediate goods, energy, capital goods, consumer durables and consumer non-durables.
Data collection
Data are collected by the Statistical Office either by telephone interviews, fax or e-mail. Collection starts five to ten days after the end of the period under consideration and is usually completed within two months. In the mining and quarrying sector the main quarrying products are covered, but not the supporting activities for gas extraction. In manufacturing, electricity supply and water supply and materials recovery all enterprises with an annual turnover of EUR 2 000 000 or more or employing 20 or more persons are covered and a sample of smaller enterprises is taken. For electricity supply and water collection, treatment and supply, data from administrative sources are also taken.
Method of calculation and publication practices
The Industrial Turnover Index has a base year of 2021, i.e. it shows the monthly change in turnover compared to the monthly average turnover in 2021. In the base year, the average of the Turnover Indices for the twelve months is 100.0. For example, if the Turnover Index for a given month is 112.4, this means that turnover for that month increased by 12.4% compared to the average monthly turnover in 2021. 2. The index is sent monthly to the Statistical Office of the European Union (Eurostat).
For more information, interested parties can visit the Statistical Office Portal, under Industry,Update on Base Year Change, CYSTAT-DB (Database), Predefined Tables (Excel) or contact Ms. Elizabeth Zenonos (tel.: 22602187, e-mail: ezinonos@cystat.mof.gov.cy) and Mr. Charalambos Alkiviados (tel.: 22602189, e-mail: calkiviadous@cystat.mof.gov.cy).
Data for the base year 2021=100 are only available in the CYSTAT-DB database.
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Views & opinions expressed are those of the author and/or PIO
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