Cyprus - Real Net Exports




Cyprus: Real Net Exports

Mnemonic NETEX$.ICYP
Unit Mil. Ch. 2010 EUR, SA
Adjustments Seasonally Adjusted
Quarterly 98 %
Data 2022 Q3 -9.8
2022 Q2 -490.8

Series Information

Source Statistical Service of the Republic of Cyprus (CYSTAT)
Release Quarterly National Accounts
Frequency Quarterly
Start Date 3/31/1995
End Date 9/30/2022

Cyprus: Trade

Reference Last Previous Units Frequency
Balance of Goods Nov 2022 -666,220 -494,018 Ths. EUR, NSA Monthly
Exports of Goods Nov 2022 317,281 416,024 Ths. EUR, NSA Monthly
Imports of Goods Nov 2022 983,501 910,042 Ths. EUR, NSA Monthly
Current Account Balance 2022 Q3 -438,781,458 -1,104,597,546 USD, NSA Quarterly
Exports of Goods and Services 2022 Q3 6,350 6,028 Mil. EUR, SA Quarterly
Imports of Goods and Services 2022 Q3 6,435 6,494 Mil. EUR, SA Quarterly
Net Exports 2022 Q3 -84.58 -466.71 Mil. EUR, SA Quarterly
Real Exports of Goods and Services 2022 Q3 5,755 5,519 Mil. Ch. 2010 EUR, SA Quarterly
Real Imports of Goods and Services 2022 Q3 5,765 6,010 Mil. Ch. 2010 EUR, SA Quarterly
Real Net Exports 2022 Q3 -9.8 -490.8 Mil. Ch. 2010 EUR, SA Quarterly

Release Information

Description

For Cyprus, quarterly national accounts since 1995 in euros including GDP, GVA, expenditures, final consumption, and gross capital formation.

Properties

  • National accounts framework: ESA 2010
  • Activity classification: NACE Rev. 2
  • Measurements:
    • Millions of euros at chained year-2010 prices (Mil. Ch. 2010 EUR)
    • At current prices (Mil. EUR)
    • Percent change year-over-year (% Y/Y)
    • Percent change quarter-over-quarter (% Q/Q)
  • Adjustments:
    • Seasonally adjusted (SA)
    • Not seasonally adjusted (NSA)
  • Native frequencies: Quarterly, annual
  • Start date: 1995Q1

Methodology

The framework changed from ESA 95 to ESA 2010 in October 2014.

The Statistical Service of the Republic of Cyprus (CYSTAT) reports the following:

  • Growth rates of GDP at constant prices
  • GDP, with GVA by industry (aggregates of NACE Rev.1 economic activities)
  • GDP by category of expenditure
  • Final consumption expenditure
  • Gross capital formation

Figures are reported in nominal and real terms.  Real figures use chain-linking.  All quarterly figures are reported both unadjusted and seasonally adjusted (NSA and SA).

Presentation

CYSTAT's system of national accounts presentation includes four tables (for each of current/constant and SA/NSA), which together comprise two alternative breakdowns of GDP:

Gross domestic product (GDP) equals:

  • Gross value added (GVA)
    • By industry: Six aggregates of NACE Rev.1 divisions A to P
  • Less: FISIM (financial intermediation services indirectly measured)
  • Import duties
  • VAT (value-added tax)

GDP alternately equals:

  • Final consumption expenditure
    • Households
    • NPISHs (non-profit institutions serving households)
    • Government
  • Gross capital formation
    • Gross fixed capital formation (GFCF)
      • By investment product: Six P1 to P6
    • Change in inventories
  • Exports
  • Less: Imports

Classifications

Industries (NACE Rev. 1 economic activities):

  • A = Agriculture, hunting and forestry
  • B = Fishing
  • C = Mining and quarrying
  • D = Manufacturing
  • E = Electricity, gas and water supply
  • F = Construction
  • G = Wholesale and retail trade
  • H = Hotels and restaurants
  • I = Transport, storage and communication
  • J = Financial intermediation
  • K = Real estate, renting and business activities
  • L = Public administration and defense
  • M = Education
  • N = Health and social work
  • O = Other community, social and personal services
  • P = Private households with employed persons

Investment product categories in gross capital formation:

  • P1 = Products of agriculture, fisheries and aquaculture
  • P2 = Equipment: Metal products and machinery
  • P3 = Transportation equipment
  • P4 = Residential construction
  • P5 = Non-residential construction
  • P6 = Other products

Changes in methodology

During the COVID-19 pandemic (2020 to 2021), the source wrote:

Due to this unprecedented situation, the Statistical Service had to make some imputations for the short-term indicators used. These imputations were based on information collected from sources other than those used for the usual production of the GDP Estimate (such as the weekly credit cards transactions and the preliminary results of the Labour Force Survey). As the problems anticipated were common to all members of the European Union, they were tackled by applying the same methodologies under the supervision and the guidance of European Statistical Office (Eurostat).

Revisions

Yes.

The growth rates are reported in "flash" vs. "final" phases, and the source sometimes reports them with one decimal place of precision vs. full precision, respectively. Since we synchronize to the full as-reported history each time, you'll see fluctuation in this respect, apart from intentional revisions.

The flash growth rate is revised over the past four quarters.

Final growth rates are revised over the past 12 quarters.

Quarterly and annual accounts are revised in a four-phase pattern over the course of a year.

Large revisions ("major" or "benchmark") are conducted every five years in September.

Notes