Ministry of Finance, Statistical Service



26/11/2015
New Publication: Industrial Statistics, 2014

The Statistical Service announces the publication of the annual report “Industrial Statistics, 2014”. The report provides detailed data on the broad industrial sector, covering manufacturing, mining and quarrying, electricity supply, water supply, sewerage, waste management and remediation activities.

The industrial sector in 2014 registered a negative growth rate in real terms for a fourth year in a row. On the basis of provisional estimates, this rate (as measured in terms of value added at constant market prices of 2005 by the chain linking method) for the whole of the sector recorded a decrease of 1,6% in 2014, compared to a decrease of 6,5% in 2013 and 8,2% in 2012. Specifically, according to provisional figures, manufacturing recorded a decrease of 2,0%, mining and quarrying 11,7%, electricity supply 0,6%, while water supply, sewerage and waste management registered a marginal increase of 0,1%.

The gross output of the industrial sector at current market prices decreased in 2014 by 6,6% and reached €3.568,7 million, compared to €3.822,6 million in 2013. Value added at current market prices is estimated to have reached €1.263,2 million compared to €1.335,9 million in 2013, recording a decrease of 5,4%. The contribution of the sector to the G.D.P. at current market prices reached 8,0%, from 8,1% in 2013.

Employment in the whole of the sector is estimated to have decreased to 31,4 thousand from 32,9 thousand in 2013 and accounted for 8,8% of the gainfully employed population. The number of persons registered as unemployed decreased from 4.968 in 2013 to 4.713 in 2014.

The major developments during 2014 were:

Manufacturing

In manufacturing, which constitutes the largest part of the industrial sector, gross output at current market prices reached €2.451,4 million in 2014 compared to €2.541,6 million in 2013, registering a decrease of 3,5%. Value added recorded a decrease of 3,0% to €807,1 million compared to €832,0 million in 2013. Employment decreased to 27,2 thousand compared to 28,5 thousand in 2013. Expenditure on fixed assets amounted to €39,0 million in 2014 compared to €35,8 million in 2013, recording an increase of 9,1%. Machinery and equipment accounted for 71,0% of the total investment, construction work for 21,9% and transport equipment for the remaining 7,1%.

Mining and Quarrying and Electricity Supply

In these activities, gross output at current market prices reached €847,6 million in 2014, registering a decrease of 14,4% compared to 2013, while value added also decreased by 11,1% to €318,3 million from €358,0 million in 2013. Employment is estimated to have decreased by 6,4% to 2.572 persons, while expenditure on fixed assets decreased significantly by 64,8%, reaching €88,9 million compared to €253,0 million in 2013.

Sales of electricity increased by 0,7% and reached 3.915,5 million kWh in 2014 from 3.889,8 million kWh in 2013.

Water Supply, Sewerage, Waste Management and Remediation Activities

In this part of the industrial sector, the gross output at current market prices rose to €269,7 million in 2014, registering a decrease of 7,3%. Value added decreased by 5,5% and reached €137,8 million. Expenditure on fixed assets decreased by 51,9% and reached €43,5 million from €90,5 million in 2013. Employment decreased by 2,8% to 1.609 persons.

Consumption of water in the urban regions is estimated to have decreased by 2,5% to 31,0 million tonnes, compared to 31,7 million tonnes in 2013.

Exports of Industrial Products

Exports of domestically produced industrial products reached €536,9 million in 2014 compared to €529,2 million in 2013, recording an increase of 1,5%. The most important categories of industrial products exported by order of importance were pharmaceutical products, food products, non-metallic mineral products, recycled products, basic metals and machinery and equipment.

Large increases compared to 2013 were recorded in the exports of dairy products and cement, while significant decreases were recorded in the exports of basic metals and recycled products.

An electronic version of the report can be downloaded free of charge from the website of the Statistical Service. Within the coming days, the paper publication will also be made available for sale from the Government Printing Office in Nicosia at the price of €13,50 per copy.


STATISTICAL SUBTHEME

INDUSTRY










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