Cyprus pharmaceuticals lead industrial exports

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Industry declined in real terms for a second year in a row in 2010, according to the Statistical Service’s annual report entitled Industrial Statistics. 2010.
On the basis of provisional estimates, real valued added declined by 0.5% in 2010, compared with a decrease of 4.6% in 2009 and an increase of 2.1% in 2008.
The report provides detailed data on the broad industrial sector. It covers manufacturing, mining and quarrying, electricity supply, water supply, sewerage, waste management and remediation activities.

Manufacturing

Manufacturing constitutes the largest part of the industrial sector.
Gross manufacturing output at current market prices dropped by 2.1% to EUR 3,253.9 mln in 2010 compared with EUR 3,322.2 mln in 2009.
Value added in manufacturing recorded a decrease of 3.6% to EUR 1,167.8 mln compared with EUR 1,211.0 mln in 2009.
Employment in the sector decreased to 34.6 thousand compared with 35.6 thousand in 2009.
Expenditure on fixed assets in manufacturing dropped by 10.3% to EUR 242.0 mln in 2010 compared with EUR 269.7 mln in 2009.
Machinery and equipment accounted for 67.7% of the total manufacturing investment, construction work for 26.7% and transport equipment for the remaining 5.6%.

Pharmaceuticals lead the way

Exports of domestically produced industrial products reached EUR 475.4 mln in 2010 compared with EUR 393.9 mln in 2009, recording an increase of 20.7%.
The most important categories of industrial products exported by order of size were pharmaceutical products, food and beverages, electronics, recycled products, machinery and equipment, basic metals and chemical products.
The largest increases compared with 2009 were recorded in the exports of recycling products, electronics, food products, pharmaceutical products, basic metals and furniture.
The largest decreases were recorded in the exports of wearing apparel, leather products and accessories for motor vehicles.

Mining and quarrying

In mining and quarrying. gross output at current market prices reached EUR 90.4 mln in 2010, rising by 9.0% compared with 2009.
Value added in this sector also increased by 9.7% to EUR 55.5 mln.
However, it is a tiny sector with employment reaching just 585 persons, down 0.5% from the previous year.
Expenditure on fixed assets decreased to EUR 16.3 mln compared with EUR 19.1 mln in 2009.

Electricity supply

Gross output at current market prices of electricity supply rose by 25.5% in 2010, reaching EUR 815.2 mln.
Value added in this sector rose to EUR 327.0 mln, registering an increase of 21.3%. Employment is estimated to have increased by 2.3% to 1,507 persons, while expenditure on fixed assets increased significantly (by 66.6%), reaching EUR 439.9 mln compared with EUR 264.1 mln in 2009.
Sales of electricity rose by 2.7% and reached 4,782.0 mln kWh in 2010 from 4,655.7 mln kWh in 2009.

Water supply et al

In the sector of “water supply, sewerage, waste management and remediation activities” gross output at current market prices rose by 17.3% to EUR 310.9 mln in 2010.
Value added also increased by 16.5% and reached EUR 139.3 mln.
Expenditure on fixed assets decreased slightly to EUR 127.9 mln from EUR 128.2 mln in 2009, while employment increased by 8.0% to 1,406 persons.

Consumption of water in the urban regions is provisionally estimated to have increased by 4.4% to 32.1 mln tonnes compared with 30.8 mln tonnes in (the drought year of) 2009.