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Turnover value Index of transport and storage drops by 33.3%

22/02/2021 13:46

The Turnover Value Index of Transport and Storage for the fourth quarter of 2020 reached 79.8 units (base year 2015=100), recording a decrease of 33.3% compared to the corresponding quarter of 2019, according to Cyprus Statistical Service. During the entire year the annual drop was 30.4%.

By economic activity, decreases relative to the fourth quarter of the previous year were observed in air transport by 78.7%, in water transport by 55.2%, in land transport by 36.4% and in warehousing and support activities for transportation by 31.2%, while an increase of 1.9% was recorded in postal and courier activities.

During the period January-December 2020, the Turnover Value Index of Transport and Storage recorded a decrease of 30.4% compared to the corresponding period of 2019.

The Turnover Value Index of Transport and Storage reflects the short-term developments related to the turnover of the enterprises operating in the divisions of land transport and transport via pipelines, water transport, air transport, warehousing and support activities for transportation and postal and courier activities.

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

The turnover index is produced for the five divisions of the Statistical Classification of Economic Activities (NACE Rev. 2) that constitute the sector of Transport and Storage.

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.