The Cyprus Statistical Service has announced that it has published the annual report “Industrial Statistics 2005”. 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 2005 compare to 2004 were as follows.
Mining and quarrying up by 9%
The mining and quarrying sector in 2005 increased by 9.0% compare to the previous year. It is estimated that the value added of the sector in real terms increased from CYP 22.0 mln in 2004 to CYP 24.0 mln in 2005.
Manufacturing
In 2005 manufacturing sector presented a small increase, due mainly to an increase in local demand of manufactured goods. Value added of the sector increased by 0.8% in real terms compared to an increase of 0.9% in 2004.
Food, beverages and tobacco, which is traditionally the largest group and in 2005 contributed 39.5% to the manufacturing value added, registered an increase of 1.5% in volume of production.
The increase of the construction sector enabled 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 CYP 92.1 mln in 2004 to CYP 97.8 mln in 2005.
The price index of domestically produced manufactured goods rose by 4.2% over 2004, compared to a 6.5% increase in the previous year.
This is attributed to an increase of 4.3% in local market prices and 3.7% in export prices.
Industrial exports decreased from CYP 182.4 mln in 2004 to CYP 180.1 mln in 2005. Exports to European Union countries amounted to 48.6% while the share absorbed by Middle Eastern countries fell to 17.3% in 2005.
CYP 82 mln spent on fixed assets
Expenditure on fixed assets in the sector during 2005 decreased to CYP 81.5 mln compared to CYP 92.6 mln in 2004. Machinery and equipment accounted for 51.2% of total investment, new buildings and works for 33.0% and transport equipment for the remaining 15.8%.
Employment in manufacturing decreased to 37.7 thousand people compared to 38.0 thousand in 2004. The percentage share of unemployment in the sector to total unemployment in the economy is estimated at 12.2% with average unemployment reaching 1,602 persons in 2005 compared to 1,586 in 2004.
Electricity and Water
During 2005 there was an increase in the rate of economic growth in the sector. estimated at 5.3%, compared to 3.5% in 2004.
Generation transmission and distribution of electric energy is by far the most important industry of the sector and in 2005 contributed 80.0% to the sectoral value added. Sales of electricity rose by 5.4% and reached 3.930.7 mln kWh in 2005 from 3.729.3 mln kWh in 2004.
The highest increases were recorded in the construction and health and social work.
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 8.9%, for water pumping purposes by 2.9% and for public lighting by 13.9%.
The report is available for sale from the Government Printing Office at the price of CYP 8.00. It is also available free of charge from the website of the Statistical Service under the section, Publications.
