Annual Change +3.4%
The Industrial Production Index for February 2022 reached 124.9 points (base 2015=100), an increase of 3.4% compared to February 2021. In the period January - February 2022, the index showed an increase of 4.1% compared to the same period last year.
The manufacturing sector saw an increase of 0.8% compared to February 2021. Increases were also recorded in water supply and materials recovery (+22.6%) and electricity supply (+12.6%). The mining and quarrying sector showed a decrease of 3.1% compared to February 2021.
In the manufacturing sector, the most significant positive changes compared to February 2021 occurred in the following economic activities: production of textiles, clothing and leather goods (+40.2%); manufacture of electronic and optical products and electrical equipment (+6.7%); manufacture of rubber and plastic products (+2.9%); manufacture of food, beverages and tobacco products (+2.5%); and production of refined petroleum products, chemicals/products and pharmaceuticals and preparations (+2.4%). The only negative changes were observed in wood and manufacture of wood and cork products except furniture (-10.6%), manufacture of other non-metallic mineral products (-4.4%) and basic metals and fabricated metal products (-1.6%).
Comparing the rates of change for January to February 2022 with the corresponding period of the previous year, the most significant increases are observed in the economic activities of water collection, treatment and supply (+49.4%), manufacture of textiles, wearing apparel and leather goods (+47.9%), manufacture of electronic and optical products and electrical equipment (+20.3%), electricity supply (+16.8%) and manufacture of furniture and repair/installation of machinery and equipment (+8.2%). The activities that saw the most significant decreases in output compared to the January-February 2021 period were those of nonmetallic mineral products manufacturing (-13.2%), wood and wood and cork products manufacturing, except furniture (-12.1%), materials recovery (-11.9%), mining and quarrying (-6.9%) and basic metals and fabricated metal products manufacturing (-6.1%).
[TR] [TD]
Code (NACE Rev. 2)
[/TD] [TD]Economic Activity
[/TD] [TD]Index (2015=100)
[/TD] [TD]Percentage Change (%)
[/TD] [/TD] [/TR] [TR] [TD]
Feb 2022
[/TD] [TD]
Feb 2022/
Feb 2021
Jan-Feb 2022/ Jan-Feb 2021
[/TD] [/TD] [/TR] [TR] [TD]B
[/TD] [TD]METALS AND STORAGE
[/TD] [TD]186,3
[/TD] [TD]-3,1
[/TD] [TD]-6,9
[/TD] [/TR] [TR] [TD]C
[/TD] [TD]TRANSFORMATION
[/TD] [TD]132,1
[/TD] [TD]0,8
[/TD] [TD]
0,0
[/TD] [/TR] [TR] [TD]10+11+12
[/TD] [TD]Food industry, Beverages and Tobacco Products
[/TD] [/TD] [TD]109.4
[/TD] [TD]2.5
[/TD] [TD]1,4
[/TD] [/TR] [TR] [TD]13+14+15
[/TD] [TD]Manufacture of textiles, wearing apparel and leather goods
[/TD] [TD]118.3
[/TD] [TD]40.2
[/TD] [TD]47,9
[/TD] [/TR] [TR] [TD]16
[/TD] [TD]Manufacture of wood and cork products, except furniture
[/TD] [TD]126,3
[/TD] [TD]-10,6
[/TD] [TD]-12,1
[/TD] [/TR] [TR] [TD]17+18
[/TD] [TD]Manufacture of paper and paper products and printing
[/TD] [TD]70.9
[/TD] [TD]0.9
[/TD] [TD]-5,1
[/TD] [/TR] [TR] [TD]19+20+21
[/TD] [TD]Production of refined petroleum products, chemical substances and products and pharmaceutical products and preparations
[/TD] [TD]135.1
[/TD] [TD]2.4
[/TD] [TD]2,5
[/TD] [/TR] [TR] [TD]22
[/TD] [TD]Manufacture of rubber and plastic products
[/TD] [TD]129,2
[/TD] [TD]2,9
[/TD] [TD]2,0
[/TD] [/TR] [TR] [TD]23
[/TD] [TD]Manufacture of other non-metallic mineral products
[/TD] [TD]181,3
[/TD] [TD]-4,4
[/TD] [TD]-13,2
[/TD] [/TD] [/TR] [TR] [TD]24+25
[/TD] [TD]Production of Basic Metals and Manufacture of Metal Products
[/TD] [/TD] [TD]162,0
[/TD] [TD]-1.6
[/TD] [TD]-6.1
[/TD] [/TD] [/TR] [TR] [TD]26+27
[/TD] [TD]Manufacture of electronic and optical products and electrical equipment
[/TD] [TD]192.8
[/TD] [TD]6,7
[/TD] [TD]20.3
[/TD] [/TR] [TR] [TD]28+29+30
[/TD] [TD]Manufacture of machinery and equipment, motor vehicles and other transport equipment
[/TD] [/TD] [TD]122,5
[/TD] [TD]1,2
[/TD] [TD]5,6
[/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]147,5
[/TD] [TD]0,1
[/TD] [TD]8,2
[/TD] [/TR] [TR] [TD]
D
[/TD] [TD]ELECTRICITY SUPPLY
[/TD] [TD]
102,6
[/TD] [TD]
12,6
[/TD] [TD]16,8
[/TD] [/TR] [TR] [TD]E
[/TD] [TD]WATER SUPPLY AND MATERIALS RECOVERY
[/TD] [TD]110,2
[/TD] [TD]22,6
[/TD] [TD]29,0
[/TD] [/TD] [/TR] [TR] [TD]36
[/TD] [TD]Collection, Water Collection, Treatment and Supply
[/TD] [/TD] [TD]113.6
[/TD] [TD]42.4
[/TD] [TD]49.4
[/TD] [/TR] [TR] [TD]38.3
[/TD] [TD]Materials Recovery
[/TD] [TD]100.5
[/TD] [TD]-15.3
[/TD] [TD]-11,9
[/TD] [/TR] [TR] [TD]
B+C+D+E
[/TD] [TD]GENERAL FACTOR
[/TD] [TD]124,9
[/TD] [TD]3,4
[/TD] [TD]4 [/TD] [TD]
4,1
[/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, waste collection, treatment and disposal and remediation activities, i.e. codes 37, 38.1, 38.2 and 39 of sector E.
Data collection
Data collection is carried out 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.
Method of calculation and publication practices
The Industrial Production Index is based on 2015, i.e. it shows the monthly change in production relative 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 more information:
Statistical Office Portal, Industry sub-topic CYSTAT-DB (Database) Predefined Tables (Excel)
Contact
Georgia Andreou: +357 22602148, Tel. PO Box: gandreou@cystat.mof.gov.cy Haralambos Alkiviados: Tel: +357 22602189, Email. calkiviadous@cystat.mof.gov.cy
(MB/IK)
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