Index of Industrial Production (Base year 2000)

Methodological note on the Index of Industrial Production
Scope
The Index of Industrial Production reflects the monthly changes of the volume of production in the branches of mining and quarrying, manufacturing and electricity, gas and water supply.
Data Collection The collection of data for the sub-sectors of mining and quarrying and manufacturing is conducted by the Statistical Service by telephone enquiries or by fax or by email. The data collection starts approximately
five to ten days after the end of the reference period and is normally completed within one and a half month. For mining and quarrying all enterprises are covered. For manufacturing all enterprises with production value 1 million Cyprus Pounds and over or with 20 or more employees are included in the survey and a sample is selected from enterprises employing less than 20 persons. The Electricity Authority of Cyprus, as the only electricity producing enterprise, provides production data, while data are
also collected from water distribution, desalination and purification companies.
Compilation method and dissemination practices The Index of Industrial Production is using 2000 as base year, meaning that it shows the monthly changes in production in relation with the monthly average production of the year 2000. In the base year, the average of the production indices for the twelve months is 100,0. For example, a
monthly production index of 103,4 implies that the production for the specific month has increased by 3,4% in relation to the average monthly production of 2000. The aggregated Index of Industrial Production is a weighted average of the production indices of the various sub-sectors of Industry, as these are classified in the classification system of economic activities NACE Rev. 1.1 of the European Union. The weights used are derived from the value
added of the enterprises in the base year (2000) and reflect the value added of each sub-sector in relation to the total value added of the Industrial sector. The Index of Industrial Production follows the provisions of the Council Regulation (EC) No 1165/98 concerning short-term statistics, amended by Regulation (EC) No 1158/2005. The index is published at national level in its gross form (neither seasonally nor working day adjusted). Working day
adjusted data are transmitted every month only to Eurostat.
Contact person For more information: Nicos Pavlou