Industrial Statistics report for 2004 issued
Nicosia, Oct 12 (CNA) - Detailed statistical data on the developments in the broad industrial sector covering manufacturing, mining and quarrying, electricity and water, are given in the annual report ''Industrial Statistics 2004'' of the Statistical Service, that makes a comparison between the years 2004 and 2003.
In 2004 manufacturing sector presented a small increase, due mainly to an increase in local demand of manufacture goods. Value added of the sector increased by 0.9% in real terms compared to an increase of 2.2% in 2003.
The increase of the construction sector enables the group of other non-metallic mineral products to increase and become the second largest group in the manufacturing sector.
The price index of domestically produced manufactured goods rose by 6.5% over 2003, compared to a 2.5% increase in the previous year. This is attributed to an increase of 7.3% in local market prices and 1.5% in export prices.
Industrial exports increased in 2004. Exports to European Union countries amounted to 49.5% while the share absorbed by Middle Eastern countries fell to 19.2% in 2004.
Expenditure on fixed assets in the sector during 2004 increased too. Machinery and equipment accounted for 55.6% of total investment, new buildings and works for 30.3% and transport equipment for the remaining 14.1%.
Employment in manufacturing remained at roughly the same level as in the previous year and accounted for about 40.1 thousand. The percentage share of unemployment in the sector to total unemployment in the economy is estimated at 12.5% with the average unemployment reaching 1,586 persons in 2004 compared to 1,684 in 2003.
During 2004 there was a slowdown in the rate of economic growth in the sector of electricity and water, estimated at 3.3%, compared to 7.3% in 2003.
Generation transmission and distribution of electric energy is by far the most important industry of the sector and in 2004 contributed 80.5% to the sectoral value added.
The highest increases were recorded in the construction and public administration and defence. 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 1.7%, for water pumping purposes by 3.7% and for public lighting decreased by 0.9%.
Regarding the mining and quarrying sector, it increased in 2004 by 2.1% compared to the previous year.