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The Turnover Value Index during the first quarter of 2021 recorded decreases in the sectors of accommodation and food service activities (-41,2%), administrative and support service activities (-11,3%) and professional, scientific and technical activities (-5,3%), while an increase was recorded in the sector of information and communication (4,9%) compared to the corresponding quarter of 2020.

Methodological Information

Scope

The Turnover Value Index of Services reflects the short-term developments related to the turnover of the enterprises operating in the sectors of accommodation and food service activities (NACE I), information and communication (NACE J), professional, scientific and technical activities (NACE M) and administrative and support service activities (NACE N).

Data collection

The survey is carried out on a sample basis and concerns enterprises that are classified under the sectors mentioned above. The data collection is performed by telephone, fax or e-mail. The data are collected on a quarterly basis.

Compilation method

The turnover index is produced for the various divisions of the Statistical Classification of Economic Activities (NACE Rev. 2) that constitute the sector of Services. The base year for the index is 2015, meaning that it shows the changes in turnover of the reference period in relation with the average turnover of the year 2015. For the base year, the average of the quarterly indices is 100. The weights used are derived from the total sales of the enterprises in the base year (2015) and reflect the turnover of each division in relation to the total turnover of the sector.

The compilation of the Turnover Value Index of Services follows the provisions of the Council Regulation (EC) No. 1165/98 concerning short-term statistics.

For more information:

Statistical Service (CYSTAT) Website, subtheme Other Services

Contact
Panagiotis Lymperopoulos: Tel: +357 22605130, E-mail: plymperopoulos@cystat.mof.gov.cy

(IK/ECHR)