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Annual Change +2.3%
The Industrial Production Index for December 2023 reached 136.1 points (base 2015=100), an increase of 2.3% compared to December 2022. In the period January-December 2023, the index showed an increase of 2.4% compared to the same period last year.
In the manufacturing sector, there was an increase of 0.8% compared to December 2022. Increases were also recorded in water supply and materials recovery (+27.7%), mining and quarrying (+5.3%) and electricity supply (+3.8%).
In the manufacturing sector, the most significant positive changes compared to December 2022 occurred in the following economic activities: manufacture of electronic and optical products and electrical equipment (+25.9%), basic metals and fabricated metal products (+13.7%) and manufacture of rubber and plastic products (+1.3%). The most significant negative changes were observed in the manufacture of furniture and repair/installation of machinery and equipment (-5.9%), the manufacture of textiles, wearing apparel and leather goods (-4.1%) and the manufacture of other non-metallic mineral products (-4.0%).
Comparing the rates of change for the period January - December 2023 with the corresponding period of the previous year, the most significant increases are observed in the manufacture of electronic and optical products and electrical equipment (+28,2%), in the manufacture of machinery and equipment, motor vehicles and other transport equipment (+11.5%), in the production of basic metals and fabricated metal products (+10.9%), in water collection, treatment and supply (+9.3%) and in materials recovery (+7.9%). The only activities in which there were decreases in production compared to the January-December 2022 period were those of the manufacture of furniture and repair/installation of machinery and equipment (-7.3%), electricity supply (-1.3%) and manufacture of rubber and plastic products (-0.1%).
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[TR] [TD]
Code
(NACE
Rev. 2)
[/TD] [TD]Economic Activity
[/TD] [TD]Index (2015=100)
[/TD] [TD]Percentage Change (%)
[/TD] [/TD] [/TR] [TR] [TD]Dec
2023
[/TD] [TD]Dec
2023/2022
[/TD] [TD]Jan-Dec
2023/2022
[/TD] [/TD] [/TR] [TR] [TD] [/TD] [TD][/TD] [TD]
[/TD] [TD]
[/TD] [TD]
[/TD] [/TR] [TR] [TD]
B
[/TD] [TD]Metaliaa
[/TD] [TD]228,5
[/TD] [/TD] [TD]5,3
[/TD] [/TD] [TD]7,0
[/TD] [/TD] [/TR] [TR] [TD][/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [/TR] [TR] [TD]
C
[/TD] [TD]Metapoi
[/TD] [/TD] [TD]146,4
[/TD] [/TD] [TD]0,8
[/TD] [/TD] [TD]3,0
[/TD] [/TR] [TR] [TD] [/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [TD][/TD] [/TR] [TR] [TD]
10+11+12
[/TD] [TD]Food Industry, Beverage and Tobacco Products
[/TD] [TD]127,4
[/TD] [TD]-0,2
[/TD] [TD]2,0
[/TD] [/TD] [/TR] [TR] [TD]13+14+15
[/TD] [TD]Manufacture of textiles, Clothing and leather goods
[/TD] [/TD] [TD]156.0
[/TD] [TD]-4,1
[/TD] [TD]6,6
[/TD] [/TD] [/TR] [TR] [TD]16
[/TD] [TD]Wood and wood products manufacturing, except furniture
[/TD] [/TD] [TD]123,2
[/TD] [TD]0,4
[/TD] [TD]1,9
[/TD] [/TD] [/TR] [TR] [TD]17+18
[/TD] [TD]Manufacture of paper and paper products and printing
[/TD] [TD]86,8
[/TD] [TD]0,2
[/TD] [TD]1,9
[/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] [TD]145,4
[/TD] [TD]1,0
[/TD] [TD]2,2
[/TD] [/TR] [TR] [TD]22
[/TD] [TD]Manufacture of rubber and plastic products
[/TD] [TD]124,2
[/TD] [TD]1,3
[/TD] [TD]-0,1
[/TD] [/TR] [TR] [TD]23
[/TD] [TD]Manufacture of other non-metallic mineral products
[/TD] [TD]207,1
[/TD] [TD]-4,0
[/TD] [TD]3,2
[/TD] [/TR] [TR] [TD]24+25
[/TD] [TD]Production of Basic Metals and Manufacture of Metal Products
[/TD] [TD]190.9
[/TD] [TD]13.7
[/TD] [TD]10,9
[/TD] [/TR] [TR] [TD]26+27
[/TD] [TD]Manufacture of electronic and optical products and electrical equipment
[/TD] [TD]97,6
[/TD] [TD]25.9
[/TD] [TD]28.2
[/TD] [/TD] [/TR] [TR] [TD]28+29+30
[/TD] [TD]Manufacture of machinery and equipment, Motor Vehicles and Other Transport Equipment
[/TD] [/TD] [TD]138.8
[/TD] [TD]-1.1
[/TD] [TD]11.5
[/TD] [/TR] [TR] [TD]31+32+33
[/TD] [TD]Manufacture of Furniture, Other Manufacturing and Repair and Installation of Machinery and Equipment
[/TD] [/TD] [TD]183.1
[/TD] [TD]-5.9
[/TD] [TD]-7,3
[/TD] [/TR] [TR] [TD] [/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [/TR] [TR] [TD]D
[/TD] [TD]ELECTRICITY SUPPLY
[/TD] [TD]98,1
[/TD] [TD]
3,8
[/TD] [TD]-1,3
[/TD] [/TR] [TR] [TD] [/TD] [TD] [/TD] [TD][/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [/TD] [/TR] [TR] [TD]
E
[/TD] [TD]WATER SUPPLY AND MATERIALS RECOVERY
[/TD] [TD]152,3
[/TD] [TD]
27.7
[/TD] [TD]8,9
[/TD] [/TD] [/TR] [TR] [TD][/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [/TR] [TR] [TD]
36
[/TD] [TD]Collection, Water Collection, Treatment and Supply
[/TD] [/TD] [TD]154.9
[/TD] [TD]37.6
[/TD] [TD]9.3
[/TD] [/TR] [TR] [TD]38.3
[/TD] [TD]Materials Recovery
[/TD] [TD]145.0
[/TD] [TD]4.7
[/TD] [TD]7,9
[/TD] [/TR] [TR] [TD]
B+C+D+E
[/TD] [TD]GENERAL FACTOR
[/TD] [TD]136,1
[/TD] [TD]2,3
[/TD] [TD]2,4
[/TD] [/TR] [/TR]
Methodological Information
Purpose
The Industrial Production Index expresses the monthly change in the volume of production in the mining and quarrying sectors, 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.
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 a month and a half. In the mining and quarrying sector, the main quarrying products are covered, but not the supporting activities for gas extraction. In manufacturing, all enterprises with a production value of EUR 1 700 000 or more or employing 20 or more persons are covered and a sample of smaller enterprises is taken. The Cyprus Electricity Authority provides production data, while data are also taken from the Water Supply Boards and desalination plants.
Calculation Method and Publication Practices
The Industrial Production Index has a base year of 2015, i.e. it shows the monthly change in production compared to the monthly average production in 2015. In the base year, the average of the Production Indices for the twelve months is 100.0. For example, if the Production Index for a given month is 103.4, this means that production for that month increased by 3.4% compared to the average monthly production in 2015.
To compile the total Industrial Production Index, the weighted average of the individual indicators is calculated for the various branches of industry as defined in the statistical classification of economic activities NACE Rev.2. The index is sent monthly to the Statistical Office of the European Union (Eurostat) and in a corrected form (seasonally corrected and corrected for the number of working days). No corrections are made for publication at national level.
For further information:
For further information, interested parties can visit the Statistics Office Portal, under Industry, CYSTAT-DB (Database), Predefined Tables (Excel) or contact Ms. Elizabeth Zenonos at 22602187 or at ezinonos@cystat.mof.gov.cy, or Mr. Charalambos Alkiviados at 22602189 or at calkiviadous@cystat.mof.gov.cy.
The Predefined Tables in Excel format include data up to December 2022. For January 2023 and thereafter, the update is done only in the CYSTAT-DB Database.
(AF/NZ)
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