Ministry of Finance, Statistical Service



12/10/2005
NEW PUBLICATION: INDUSTRIAL STATISTICS, 2004
12/10/2005


The Statistical Service announces that it has published the annual report “Industrial Statistics 2004”.

The report provides detailed statistical data on the developments in the broad industrial sector covering manufacturing, mining and quarrying, electricity and water.

The major developments within each sector during 2004 compare to 2003 were:

Mining and Quarrying

The mining and quarrying sector in 2004 increased by 2,1% compare to the previous year. It is estimated that the value added of the sector in real terms increased from C£18,9 million in 2003, to C£19,3 million in 2004.

Manufacturing

In 2004 manufacturing sector presented a small increase, due mainly to an increase in local demand of manufacture goods. Value added of the sector increased by 0.9% in real terms compared to an increase of 2,2% in 2003.

Food, beverages and tobacco, which traditionally is the largest group and in 2004 contributed 39,0% to the manufacturing value added, registered a 0,1% increase in volume of production. The increase of the construction sector enables the group of other non-metallic mineral products to increase and become the second largest group in the manufacturing sector. Its contribution to the value added increased from C£75,9 million in 2003 to C£83,4 million in 2004.

The price index of domestically produced manufactured goods rose by 6,5% over 2003, compared to a 2,5% increase in the previous year. This is attributed to an increase of 7,3% in local market prices and 1,5% in export prices.

Industrial exports, increased from C£172,7 million in 2003 to C£182,4 million in 2004. Exports to European Union countries amounted to 49,5% while the share absorbed by Middle Eastern countries, fell to 19,2% in 2004.

Expenditure on fixed assets in the sector during 2004 increased to C£84,2 million compared to C£76,0 million in 2003. Machinery and equipment accounted for 55,6% of total investment, new buildings and works for 30,3% and transport equipment for the remaining 14,1%.

Employment in manufacturing remained at roughly the same level as in the previous year and accounted for about 40,1 thousands. The percentage share of unemployment in the sector to total unemployment in the economy is estimated at 12,5% with average unemployment reaching 1.586 persons in 2004 compared to 1.684 in 2003.

Electricity and Water

During 2004 there was a slowdown in the rate of economic growth in the sector, estimated at 3,3%, compared to 7,3% in 2003.

Generation transmission and distribution of electric energy, is by far the most important industry of the sector and in 2004 contributed 80,5% to the sectoral value added. Sales of electricity rose by 2,0% and reached 3.729,3 million kWh in 2004 from 3.656,0 million kWh in 2003. The highest increases were recorded in the construction and public administration and defence. In the manufacturing sector, the largest increases in the usage of electricity were recorded in chemical and chemical products and metal products industries. Decreases were observed in the clothing and refined petroleum products industries. Consumption of electricity by households rose by 1,7%, for water pumping purposes by 3,7% and for public lighting decreased by 0,9%.

The report is available for sale from the Government Printing Office at the price of C£8,00. It is also available free of charge in electronic form, at the website of the Statistical Service.










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