Press Releases

The Statistical Service announces that all short-term indicators will soon start to be presented with 2021 as a new base year (instead of 2015). This change will take effect with the publication of data for the first reference period of 2024 for each index.

The change of base year at regular intervals is usual practice worldwide that aims at better reflecting changes in the structure of an economy over time. This procedure implies updating the weights used to calculate the indices and changing the sample of the enterprises followed.

The change of base year usually takes place over five-year periods, in years ending in “0” or “5”. This time, however, the change is exceptionally taking place at six years, since the regular rebasing had to be postponed due to the introduction of the new legal base for European business statistics, Regulation (EU) 2019/2152, which took effect on the 1^st January 2021. Moreover, the Covid-19 pandemic rendered the year 2020 as atypical for rebasing the indices.

The indices with the new base year 2021=100 will be calculated for all years as from 2021 onwards. The indices with the previous base years will continue to be available on the web portal of the Statistical Service, either in Predefined Tables (in MS Excel) or in the online database CYSTAT-DB.

The provisional release dates of the various indicators with the new base year are presented in the table below. For confirming the final release dates, users are advised to regularly consult the Release Calendar.

For more information visit theCYSTAT Portal, subthemes Industry, Construction, Trade, Services, CYSTAT-DB (Online Database), Predefined Tables (Excel) or contact Ms Evi Kalogirou Demetriou: tel: +357 22602168, e-mail: ekalogirou@cystat.mof.gov.cy.

(NG/AP)