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Cyprus

Reference metadata describe statistical concepts and methodologies used for the collection and generation of data. They provide information on data quality and, since they are strongly content-oriented, assist users in interpreting the data. Reference metadata, unlike structural metadata, can be decoupled from the data.

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Turnover and volume of sales

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National Reference Metadata in Euro SDMX Metadata Structure (ESMS)

Compiling agency: Statistical Service of Cyprus (Cystat)

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Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles.

12 June 2025

The purpose of the Turnover Value Indices is to monitor short-term developments classified under Divisions 45, 46 and 47 of the Statistical Classification of Economic Activities of the European Union NACE Rev.2. Turnover comprises the total amounts invoiced by an enterprise during the reference period and this corresponds to the market sales of goods and services, excluding VAT but including other duties and taxes on the goods.

There are no discrepancies with the definition of variables laid down in the Commission Implementing Regulation 2020/1197.

Kind of Activity Unit (KAU).

The frame is the Business Register (as for SBS) classified in NACE Rev. 2 Divisions 45, 46 and 47.

Republic of Cyprus.

Month.

The Index is based on a sample survey, so errors from sampling are likely to occur. Coverage errors, measurement errors, non-response errors, processing errors are considered to be small but nevertheless actions are undertaken to reduce these different types of errors as much as possible. 

Index (2021=100).

A Laspeyres Index is compiled comparing the current period with the fixed period in the base year. In order to compile turnover indices at higher levels of NACE Rev. 2, the indices at the lowest level have to be aggregated. This aggregation is done by using weights based on the turnover share of each activity in the base year derived from the annual SBS survey (Wholesale and Retail Trade Survey 2021). The index is based on year 2021 (i.e. average 2021=100). Sample survey is used to cover 80% of turnover in each 3 digits level of Nace Rev. 2 for Divisions 45 and 46 and 80% of turnover in each 4 digits level of Nace Rev. 2 for Division 47.

The data are collected by survey. Around 650 kind of activity units are surveyed on a monthly basis.

Monthly (for Divisions 45, 46 and 47).

 

Provisional data flagged as free are disseminated to Eurostat 30 days after the end of the reference month for NACE Rev. 2 Division 47. For Divisions 45 and 46, provisional data flagged as confidential are disseminated to Eurostat 60 days after the end of the reference month. The final results for Divisions 45 and 46 are published two months and fifteen days after the end of the reference quarter.

It is possible to compare the national index with that of other European countries, as full compliance with the definitions of the variables laid down in the EBSR is achieved.The EBS Regulation and the EBS methodological guidelines are applied.

Indices are comparable over time. When significant changes are introduced (e.g. change of classification, base year or methodology), historical time series are recalculated as far back as it is reasonably possible. There are no breaks in series.