Ministry of Finance, Statistical Service



21/11/2003
NEW PUBLICATION: INDUSTRIAL STATISTICS, 2002

The Statistical Service announces that it has published the annual report "Industrial Statistics 2002".

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 2002 compared to 2001 were:

Mining and Quarrying

The mining and quarrying sector in 2002 increased by 10,8% compared to the previous year. It is estimated that the value added of the sector in real terms increased from C£15.874 thousand in 2001, to C£17.586 thousand in 2002.

Manufacturing

During 2002 the manufacturing sector remained at about the same level as in 2001 due mainly to domestic demand and to the fact that there was not an increase in exports of manufactured products. Value added of the sector increased by 0,5% in real terms compared to decrease of 0,2% in 2001.

Food, beverages and tobacco, which traditionally is the largest group and in 2002 contributed 38,8% to the manufacturing value added, registered a 1,0% increase in volume of production. This was mainly due to the increase of domestic demand. The contribution of other non-metallic mineral products to the manufacturing value added increased to K£66,5 million compared to K£62,2 million in 2001. This enables the sub-sector to become the second largest group in the manufacturing sector.

The price index of domestically produced manufactured goods rose by 1,9% over 2001, compared to a 2,0% rise in the previous year. This is attributed to an increase of 2,6% in local market prices and decrease 3,3% in export prices.

Industrial exports, rose from C£187,2 million in 2001 to C£191,6 million in 2002. Exports to European Union countries rose to 48,0% in 2002 from 39,3% in 1987 and 26,6% in 1982, while the share absorbed by Arab countries, fell to 25,6 % in 2002 from 45,1% in 1987 and 62,2% in 1982.

Expenditure on fixed assets in the sector during 2002 rose to C£75,4 million compared to C£97,2 million in 2001. Machinery and equipment accounted for 64,6% of total investment, new buildings and works for 22,5% and transport equipment for the remaining 12,9%.

Employment in manufacturing increased from 37,7 thousand persons in 2001 to 37,9 thousand in 2002. The percentage share of unemployment in the sector to total unemployment in the economy is estimated at 15,7% with average unemployment reaching 1.657 persons in 2002 compared to 1.540 in 2001.


Electricity and Water

During 2002 there was an increase in the rate of economic growth in this sector, estimated at 10,2%, compared to 8,9% in 2001.

Generation, transmission and distribution of electric energy, is by far the most important industry of the sector and in 2002 contributed 81,4% to the sectoral value added. Sales of electricity rose by 8,8% to 3.401,1 million kWh in 2002 from 3.124,8 million kWh in 2001. The highest increases were recorded in the consumption by electricity, gas and water supply and wholesale and retail trade. In the manufacturing sector, the largest increases in the usage of electricity were recorded in food and metal products industries. Decreases were observed in the clothing industries. Consumption of electricity by households rose by 11,0%, for public lighting by 2,7% and for water pumping purposes by 9,0%.

The report is available for sale from the Government Printing Office at the price of C£8,00.










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