Cyprus manufacturing worth EUR 3.3 bln in 2009

388 views
2 mins read

The manufacturing sector was worth EUR 3.3 bln in 2009, according to the latest Statistical Service publication, “Industrial Statistics, 2009”.
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 2009 registered a negative growth rate in real terms, after the positive growth rates recorded in the two previous years.
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 4.6% in 2009, compared with an increase of 3.7% in 2008 and 2.6% in 2007.
The major developments during 2009 were as follows.
In manufacturing, which constitutes the largest part of the industrial sector, gross output at current market prices reached EUR 3,328.8 mln in 2009 compared with EUR 3,669.1 mln in 2008, registering a decrease of 9.3%.
Value added recorded a decrease of 8.1% to EUR 1,148.9 mln compared with EUR 1,249.8 mln in 2008. Employment decreased to 35,400 compared with 36,200 in 2008.
Expenditure on fixed assets amounted to EUR 230.5 mln in 2009 compared with EUR 250.3 mln in 2008, recording a decrease of 7.9%.
Machinery and equipment accounted for 62.9% of the total investment, construction work for 27.7% and transport equipment for the remaining 9.4%.

Mining and quarrying

In mining and quarrying, gross output at current market prices reached EUR 83.9 mln in 2009, registering a decrease of 21.2% compared with 2008, while value added also decreased by 21.1% to EUR 51.7 mln.
Employment reached 601 persons, registering a decrease of 4.9%, while expenditure on fixed assets increased to EUR 15.4 mln compared with EUR 11.9 mln in 2008.

Electricity supply

In the activity of electricity supply, the gross output at current market prices recorded a decrease of 14.2% in 2009, reaching EUR 650.0 mln.
On the contrary, value added rose to EUR 277.0 mln, registering an increase of 9.2%.
Employment is estimated to have increased by 3.2% to 1,473 persons, while expenditure on fixed assets increased significantly (by 67.5%), reaching EUR 266.2 mln compared with EUR 158.9 mln in 2008.
Sales of electricity rose by 2.2% and reached 4,655.7 mln kWh in 2009 from 4,555.8 mln kWh in 2008.

Water supply, sewerage, waste management and remediation activities

In this part of the industrial sector, the gross output at current market prices rose to EUR 258.7 mln in 2009, registering an increase of 3.3%.
Value added also increased by 6,0% and reached EUR 118.2 mln.
Expenditure on fixed assets decreased to EUR 109.7 mln from EUR 133.5 mln in 2008, while employment increased by 3.4% to 1,247 persons.
Consumption of water in the urban regions is provisionally estimated to have increased by 1.8% to 30.8 mln tonnes, compared with 30.2 mln tonnes in 2008.

Exports of industrial products

Exports of domestically produced industrial products reached EUR 393.9 mln in 2009 compared with EUR 426.3 mln in 2008, recording a decrease of 7.6%.
The most important categories of industrial products exported by order of importance were pharmaceutical products, food and beverages, electronics, recycled products, machinery and equipment, basic metals and chemical products.
The largest increases compared with 2008 were recorded in the exports of dairy products, tobacco products, cement and machinery, while the largest decreases were recorded in the exports of basic metals, sporting boats, recycled products and pharmaceutical products.
An electronic version of the report can be downloaded free of charge from the website of the Statistical Service.