Press Releases

 Total Supply and Use at Purchasers’ Prices for the year 2020 balanced at €65.212,0 mn

The Statistical Service announces the publication of the Supply, Use and Input-Output tables of Cyprus for the year 2020, in current prices and in previous year prices. It is noted that the data for the years 2018-2019 has been revised.

For the year 2020, total supply and use at purchasers’ prices are balanced at €65.212,0 mn. Business services account for 45,2% of total supply, followed by manufacturing products 25,4% and distribution & transport services 10,4%. The share of other services in total supply is 10,0%, of construction works 7,3% and of agriculture, forestry & fishing products 1,7%.

The table below presents an aggregated version of the 2020 Supply table at current prices. Total domestic production in basic prices is €45.227,6 mn in 2020, total imports €17.568,6 mn and net taxes on products €2.415,8 mn.

The domestic production accounts for 69,4% of total supply, imports for 26,9% and net taxes for 3,7%. Imports have a particularly large share (45,6%) of total supply of manufacturing products. Net taxes on products have a higher share in the supply of manufacturing products (9,3%) and construction works (6,3%) than in the other product categories.

The following table presents an aggregated version of the 2020 Use table at current prices. Total intermediate consumption is €25.556,9 mn in 2020. Total final consumption is €17.721,7 mn, gross capital formation is valued at €4.629,1 mn and total exports at €17.304,3 mn.

Intermediate consumption has the largest share (39,2%) in total use. The second largest share of total use is final consumption (27,2%), followed by exports (26,5%) and gross capital formation (7,1%). Intermediate consumption makes up the majority of total use of agriculture, forestry and fishing products (51,5%) and business services (46,1%). Final consumption is the main use of manufacturing products (38,2%) and other services (88,7%), with the rest distributed mostly between intermediate consumption and exports. The supply of construction works is mostly used as gross capital formation (54,4%), closely followed by intermediate consumption (44,0%). Distribution and transport services are mostly exported (49,7%) with their next most important use being intermediate consumption (43,2%).

The Gross Value Added (GVA) at basic prices is calculated by deducting intermediate consumption at purchasers’ prices from domestic production at basic prices. To reach the Gross Domestic Product (GDP) at market prices, taxes less subsidies on products are added to GVA at basic prices.

Methodological Information

General Information

The Supply, Use and Input-Output Tables are an important part of the System of National Accounts as they provide detailed information for the analysis of the transactions of goods and services by industries and consumers in the economy. The tables are matrices by product type and industry, describing how domestic production and imports are used for intermediate consumption and final uses.

The tables are published annually, no later than three years after the end of the reference year, in accordance with the provisions of Regulation (EU) No 549/2013.

Data Coverage and Collection

The tables cover the entire economy, including all institutional sectors, all products and types of economic activity. The economic operations with the rest of the world are also recorded.

The production of the SUIOT is based mainly on the results of the annual economic surveys of the Statistical Service of Cyprus, administrative sources, Government Finance Statistics and any data adjustments according to the European System of Accounts 2010 (ESA 2010).

For more information visit the CYSTAT Portal, subtheme National Accounts, CYSTAT-DB (Online Database), Methodological information, or contact Mr Michalis Charalambous at 22602136 or via email: micharalambous@cystat.mof.gov.cy, and Mr Demetris Ioannou at 22605128 or via email: dioannou@cystat.mof.gov.cy.

(GS/EP)