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.
Statistical Service of Cyprus, Michael Karaolis Str, CY-1444, Nicosia, CYPRUS.
1.6. Contact email address
Confidential because of GDPR
1.7. Contact phone number
Confidential because of GDPR
1.8. Contact fax number
Confidential because of GDPR
2.1. Metadata last certified
29 August 2025
2.2. Metadata last posted
29 August 2025
2.3. Metadata last update
29 August 2025
3.1. Data description
Structural business statistics (SBS) describes the structure, conduct and performance of economic activities, down to the most detailed activity level (several hundred economic sectors). SBS covers all activities of the business economy with the exception of agricultural activities, public administration and (largely) non-market services such as education and health. Main characteristics (variables) of the SBS data category:
• "Business demographic" variables (e.g. Number of active enterprises);
• "Output related" variables (e.g. Net turnover, Value added);
• "Input related" variables: labour input (e.g. Number of employees and self-employed persons, Hours worked by employees); goods and services input (e.g. Purchases of goods and services); capital input (e.g. Gross investments).
Business services statistics (BS) collection contains harmonised statistics on business services. From 2008 onwards BS become part of the regular mandatory annual data collection of SBS. The BS’s data requirement includes variable “Turnover” broken down by products and by type of residence of client.
The annual regional statistics collection includes three characteristics due by NUTS-2 country region and detailed on NACE Rev 2division level (2-digits).
3.2. Classification system
Statistical Classification of Economic Activities in the European Community (NACE): NACE Rev.2 is used from 2008 onwards. Key data were double reported in NACE Rev.1.1 and NACE Rev.2 only for 2008. From 2002 to 2007 NACE Rev. 1.1 was used and until 2001 NACE Rev.1.
Starting reference year 2021 onwards SBS cover the economic activities of market producers within the NACE Rev. 2 Sections B to N, P to R and Divisions S95 and S96. Until 2007 the SBS coverage was limited to Sections C to K of NACE Rev.1.1 and from the reference year 2008 to 2020 data was available for Sections B to N and Division S95 of NACE Rev.2.
From 2013, as the first reference year, to 2020 information is published on NACE codes K6411, K6419 and K65 and its breakdown.
From 2008 reference year data collection BS covers NACE Rev 2 codes: J62, N78, J582, J631, M731, M691, M692, M702, M712, M732, M7111, and M7112.
3.4. Statistical concepts and definitions
SBS constitutes an important and integrated part of the new European Business Statistics Regulation N° 2152/2019.
The statistical unit used is the Enterprise according to Council Regulation (EEC) No 696 / 93of 15 March 1993 on the statistical units for the observation and analysis of the production system in the Community and other methodological guidelines. The statistical unit Enterprise was fully implemented from the reference year 2018.
3.5.1. Treatment of complex enterprise
Data treatment
Sample frame based on enterprises
yes
Surveying all legal units belonging to a complex enterprise
no (yes only for section K)
Surveying all legal units within the scope of SBS belonging to a complex enterprise
yes
Surveying only representative units belonging to the complex enterprise
no
Other criteria used, please specify
Comment
3.5.2. Consolidation
Consolidation method
Consolidation carried out by the NSI
yes ("no" only for section K)
Consolidation carried out by responding enterprise/legal unit(s)
yes ("no" only for section K)
Other methods, please specify
administrative data
Comment
3.6. Statistical population
All active market enterprises with main activity in sections B-N, P-R and divisions S95 and S96 of NACE Rev. 2 classification system. The statistical business register is the frame for identifying units for the population. No thresholds are applied.
For section K, the identification of the units for the population is based on the business register of Statistical Service of Cyprus (Cystat). However, a cross comparison is carried out between the information from the business register of Statistical Service of Cyprus (Cystat) and Central Bank of Cyprus (CBC) register.
3.7. Reference area
Republic of Cyprus.
3.8. Coverage - Time
1995-2023 for sections B-N and division S95.
Only 2021-2023 for sections P-R and division S96.
3.9. Base period
Not applicable.
Number of enterprises and number of local units are expressed in units.
Monetary data are expressed in millions of €.
Employment variables are expressed in units.
Per head values are expressed in thousands of € per head.
Ratios are expressed in percentages.
2023.
The reference period is the calendar year.
A very small number of enterprises which use a different period, provide data for the business year that cover the biggest period of the SBS reference year. These data are adjusted to the calendar year.
6.1. Institutional Mandate - legal acts and other agreements
Starting with reference year 2021 two new regulations currently form the legal basis of SBS:
Regulation (EU) 2019/2152 repealing 10 legal acts in the field of business statistics (EBS Regulation), and
The Council Regulation No 58/97 has been amended three times: by Council Regulation No 410/98, Commission Regulation No 1614/2002 and European Parliament and Council Regulation No 2056/2002. As a new amendment of the basic Regulation it was decided to recast the Regulation No 58/97 in order to obtain a new "clean" legal text.
In 2008 the European Parliament and Council adopted Regulation No 295/2008 and the provisions of this Regulation were applicable from the reference year 2008 to reference year 2020. Regulation No 295/2008 was amended by Commission Regulation (EU) No 446/2014.
6.2. Institutional Mandate - data sharing
Not applicable.
7.1. Confidentiality - policy
Official statistics are released in accordance to all confidentiality provisions of the following:
• Official Statistics Law of 2021 (Law No. 25(I)/2021) (especially Article 16 on statistical confidentiality);
• Regulation (EC) No 223/2009 of the European Parliament and of the Council of 11 March 2009 on European statistics and its later amendments (especially Chapter 5 on statistical confidentiality);
• CYSTAT's Guidelines for the Protection of Confidential Data.
The Statistical Service is obliged to treat all data collected as confidential. The information is exclusively used for the production of statistics only and no person or public authority has access to the individual data of any enterprise.
The treatment of confidential data is regulated by CYSTAT's Guidelines for the Protection of Confidential Data.
Primary confidentiality is applied when there are fewer than three enterprises in a specific activity. Secondary confidentiality protects primary confidential data. The most common practice for secondary confidentiality is to censor the activity with the lowest turnover.
Data flagged as confidential are suppressed to avoid revealing sensitive information, unless prior agreement has been obtained from the enterprise concerned, or in cases where the enterprise was a semi-government organisation or a public company.
7.2.1. Confidentiality processing
Restricted from publication
8.1. Release calendar
Notifications about the dissemination of statistics are published in the release calendar, which is available on CYSTAT’s website. The annual release calendar, announced during the 4th quarter of each year, includes provisional dates which are finalised the week before publication.
Regarding NACE section K, data are only transmitted to Eurostat and not disseminated on Cystat’s website.
According to the Dissemination Policy of the Statistical Service of Cyprus (section 2.3) CYSTAT΄s main channel for dissemination of statistics is the website, which offers the same conditions to everyone and is updated at the same time every working day (12:00 noon). Privileged pre-released access (of no more than 1 day in advance) has been granted to a few selected users for specific statistics. These are specified in the Dissemination Policy (section 2.3). In addition to the annual release calendar, users are informed of the various statistical releases through the “Alert” service provided by CYSTAT.
Dissemination and Pricing Policy of the Statistical Service of Cyprus:
Statistical microdata from CYSTAT’s surveys are accessible for research purposes only and under strict provisions as described below:
Under the provisions of the Official Statistics Law, CYSTAT may release microdata for the sole use of scientific research. Applicants have to submit the request form "APPLICATION FOR DATA FOR RESEARCH PURPOSES" giving thorough information on the project for which micro-data are needed. The application is evaluated by CYSTAT’s Confidentiality Committee and if the application is approved, a charge is fixed according to the volume and time consumed for preparation of the data. Microdata may then be released after an anonymisation process which ensures no direct identification of the statistical units but, at the same time, ensures usability of the data. The link for the application is attached below.
Additionally, the European Business Statistics (EBS) framework covers the NACE Section K more comprehensively and contains extra information relating to Section K in the electronic publication “European Business Statistics Manual”.
Methodological notes are also available in the ad-hoc electronic publications. The links to the publications are stated in concept 10.2.
10.7. Quality management - documentation
The Statistical Service of Cyprus (CYSTAT) has set its strategic goal to provide high-quality statistical information in an objective, transparent, reliable and timely manner. We consider quality to be our main advantage in a world experiencing a growing trend of instant information which often lacks the necessary proof of quality.
In order to realise strategic goals it is imperative to establish policies which ensure that an organisation is moving towards the right direction. For this reason, CYSTAT established the Quality Policy which forms the basis of all statistical activities and leads towards continuous improvement of its statistical output.
The quality of statistics in CYSTAT is managed in the framework of the European Statistics Code of Practice which sets the standards for developing, producing and disseminating European Statistics as well as the ESS Quality Assurance Framework (QAF). CYSTAT endorses the Quality Declaration of the European Statistical System. In addition, CYSTAT is guided by the requirements provided for in Article 12 of the Statistics Law No. 15(I) of 2000 as well as Article 12 of Regulation (EC) No 223/2009 on European statistics, which sets out the quality criteria to be applied in the development, production and dissemination of European statistics.
The data published at the national level are different from the data that are sent to Eurostat.
Overall the coefficients of variation are in most cases low. Whenever an issue is identified, measures are taken (re-examining the sample and the sample size of the stratum). The response rate is very high.
Specifically for section K: The data published at the national level is different from the SBS data which are sent to Eurostat due to the fact that data at national level is based on ESA2010 concepts. The overall assessment of data quality is evaluated as a high level due to full coverage and 100% response rate.
No delays were observed for the reference year 2023.
The data are coherent and comparable.
12.1. Relevance - User Needs
The main internal users include: national annual accounts, CIS-R&D statistics, ICT statistics, FATS statistics, short-term statistics, foreign direct investment. Internal users often need micro level data. SBS micro level data are mainly used as a direct data source for the production of other statistics (e.g. national annual accounts including the financial accounts, CIS-R&D) or to calculate index weights (e.g. short-term statistics). Other uses are quality checks, use of the data for sampling purposes, etc.
The main external users include: Government ministries/departments responsible for policy making, employers' organisations, trade unions, enterprises, academics/researchers, students, media/press, marketing companies, national central bank, lobby and policy groups, private users, Eurostat, ECB, international organisations and others. External users are often interested in the variables “number of [units]”, “turnover”, “value-added” and “employment” by economic activity as well as by employment size class. Sometimes, concentrations ratios (e.g. market share of top 5 companies, etc.) are requested but due to disclosure issues, these are not provided.
The data published at the national level are different from the data that are sent to Eurostat (different variables, activity analysis etc.).
12.2. Relevance - User Satisfaction
Since 2008 (with the exception of 2010, 2013 and 2020) CYSTAT carries out an annual online “Users Satisfaction Survey”. The results of the surveys are available on CYSTAT’s website at the link attached below.
Overall, the users of statistical data published by CYSTAT are satisfied.
Data for all the variables required are collected therefore all statistics that are needed are available and comply fully with the relevant regulations and guidelines. They are published both at national and at EUROSTAT level.
13.1. Accuracy - overall
The results of SBS are subject to sampling and non sampling errors.
Sampling errors are assessed with quality indicators.
Non-sampling errors can be caused from problems and errors in the Statistical Business Register. Such common problems are misclassification and non-coverage. The impact of these errors is considered to be small.
Regarding NACE Section K: preliminary and final data are produced based on the same source, with full coverage and no errors are recognized. Any updated information which includes all changes for the particular period and any changes that might occur in the data sources are taken into consideration.
13.2. Sampling error
Coefficient of Variation = square root (estimate of the sampling variance) / estimated value.
Outliers are excluded from the calculation. The computation of the CVs is performed using the R statistical software. Section K has full coverage, therefore no CVs are calculated.
13.3. Non-sampling error
Data collection is done by means of a personal interview at the enterprises’ premises and as a result non-response is negligible. Enumerators are suitably trained to carry out these interviews and fill in the questionnaires with the required information. Furthermore, all the surveys that are carried out by the Statistical Service of Cyprus are in accordance with the Officail Statistics Law of 2021, where the obligation to respond is mandatory.
Section K has full coverage.
14.1. Timeliness
Last data collection: t+17 months.
Dissemination - Eurostat: t+18 months.
Dissemination at national level: t+19 - t+24 months.
14.2. Punctuality
No delays for the reference year 2023.
15.1. Comparability - geographical
The whole of Cyprus is treated as one territory.
15.2. Comparability - over time
2008-2020; 2021(EBS)-2023
NACE sections B-N and division S95: 2008-2023.
NACE sections P, Q, R and division S96: 2021-2023 only.
15.2.1. Time series
Time series
First reference year available (calendar year)
2008
Calendar year(s) of break in time series
2021
Reason(s) for the break(s)
2021: EBS
Length of comparable time series (from calendar year to calendar year)
2008-2020
2021-2023
Comment
NACE sections P, Q, R and division S96: 2021-2023 only
15.3. Coherence - cross domain
Number of enterprises is exactly the same in SBS and Business Demography. There are small differences in the employment variables due to the difference nature of the data calculation process (SBS is a sample survey while BD is an enumeration). Obviously, there are small inconsistencies in the evolution of turnover and persons employed from short-term statistics, basically due to the different methodology applied, statistical unit used and the sample size between SBS and STS. Finally, SBS is the source of National Accounts for value added, however there might be differences after the adjustments made for National Accounts purposes.
15.4. Coherence - internal
Data have full internal coherence, as they are consistent within the micro-data set.
For all sections excluding K: Data collection is carried out by a number of interviewers, who are casual staff. Seven Statistics Officers measured in full-time equivalent units are responsible for monitoring, supervision and coordination of the surveys. In recent years, a number of administrative sources is being used, whenever this is possible, in order to reduce burden on respondents.
For section K: Two Statistics Officers measured in full-time equivalent units are responsible for the data collection and compilation of SBS data for NACE Section K. Administrative sources are being used in order to compile the required SBS data and thus the burden on the respondents is limited.
17.1. Data revision - policy
CYSTAT's "Revision Policy" describes the general rules and principles governing the procedure of revising data published by CYSTAT.
As part of this policy, CYSTAT publishes a list of scheduled revisions on an annual basis, which can be found on the Release Calendar page.
17.2. Data revision - practice
Revisions in SBS can take place for a number of reasons such as:
To include improved source data;
Reclassification of enterprise(s);
To adopt improved methodology;
To correct errors.
The compilation of preliminary data is mostly based on the following:
Preliminary data provided by the enterprises;
Various relevant short-term indices (i.e. Turnover Index, unemployment figures, production index etc);
Historical data/trends of each economic sector;
Any other abnormal factors (i.e. economic crisis) during the reference period that could affect significantly the estimations.
18.1. Source data
For all sections excluding K:
Stratified sampling with stratification criteria activity, employment size class. The strata used for sampling are persons employed classes: 0-1, 2-9, 10-19, 20-49, 50-249, 250 and more.
The sampling frame is the Statistical Business Register. Turnover or employment are the main variables for identifying the principal and secondary activities, using a top-down approach. The Business Register is updated yearly. The unit's principal activity is also updated yearly.
For each stratum, a sample of predetermined size is drawn systematically with probability proportional to size, from a list ordered by enterprise size. Enterprises over a pre-defined size are fully covered.
Percentages of units sampled: 0-9 6%, 10-249 67%, 250+ 100%.
There is no threshold. The sample size is about 8.600 enterprises.
For section K:
The main administrative data source for the calculation of data for Financial Services Activities is the Central Bank of Cyprus (CBC). Regarding other monetary intermediation (MFIs), the CBC provides CYSTAT with all the necessary data for commercial banks through an analytical Quarterly Profit and Loss Survey Data (QPLSD) report, conducted by the CBC.
The main data source for Insurance data is the analytical Structural Business Statistics (SBS) data collected by the Insurance Companies Control Service on the annual accounts and consolidated accounts of insurance undertakings.
The data source for the calculation of Pension Funds data is the Registrar of Occupational Retirement Benefit Funds. Pension Funds submit for checking purposes their economic statements according to a specified format. The data is prepared in an aggregated form.
The data sources for the division of activities auxiliary to financial services and insurance activities are the Central Bank of Cyprus (CBC), the Cyprus Security and Exchange Commission (CySEC) and the Cyprus Stock Exchange. The required data is collected on an annual basis through financial statements which are obtained directly from the enterprises. The data covers all Cypriot investment firms regulated by CySEC and the Central Bank of Cyprus that are active in the reference year. Department of Registrar of Companies, VAT data and Tax data are also used in order to have completeness in data sources.
18.1.1. Data sources overview
Data sources overview
Survey data
yes
VAT data
yes
Tax data
yes
Financial statements
yes
Other sources, please specify
Department of Registrar of Companies
Comment
18.2. Frequency of data collection
Annual data collection.
18.3. Data collection
For all sections excluding K:
An announcement on the website of CYSTAT informs on the commencement of the collection of the data. Afterwards the responsible persons are contacted via telephone to book a date and time. Data are collected with personal or telephone interviews with the CAPI method, or by email, utilizing the Blaise software. Whenever possible data are collected from financial accounts. Whenever problems arise, responsible officers make additional calls to the unit. Administrative sources are used as supplementary sources of information.
For section K:
Data concerning Financial Services Activities is collected through a common platform used for data exchange between CBC and CyStat.
The procedure followed to obtain data regarding the Insurance and pension fund activities, is carried out with encrypted emails in order to ensure and maintain the confidentiality.
Regarding the fulfillment of the statistical obligations for sector Other Financial Intermediaries and Financial Auxiliaries, enterprises are requested to submit to the CBC and CyStat their financial statements via e-mail. In case of any additional information which is necessary for CBC and CyStat, this is requested through ad-hoc and encrypted emails and/or telephone calls.
According to the relevant EU and national legislation, the data/information provided are treated as confidential. The said data are used solely for statistical purposes and published only in aggregate form, without disclosing the identity of the entities to which they relate.
18.4. Data validation
For all sections excluding K:
During data entry, data checks are done in order to prevent invalid data value entries. In the Blaise system system, data inconsistencies checks are done among related variables to identify errors or warnings for predefined boundaries for either specific variables or ratios. Before transmitted to Eurostat, data are also checked with the edamis data validation tool.
For section K:
Fundamental accounting rules are applied during data entry concerning financial data. Furthermore, other validation and any inconsistencies checks are implemented in order to ensure the accuracy of the data and to identify possible errors/warnings for specific variables or ratios. Before transmitted to Eurostat, data are also checked via Edamis data validation tool.
18.5. Data compilation
For all sections excluding K:
Due to the procedures followed during data collection (personal or telephone interview), the item non-responses are minimal and all the required information in the questionnaire is recorded. As a result, the number of incomplete questionnaires is very low. When actual figures for a specific variable are not available, these are estimated based on the previous year’s enterprises actual data and the trend of basic variables of the enterprise, or from administrative sources if available. Data for enterprises that do not respond are either estimated based on the previous year’s enterprises actual data and the trend of the responses of the same activity and size class, or a correction factor in the weighting procedure is applied.
18.6. Adjustment
The reference period is the calendar year.
A very small number of enterprises (less than 10) which use a different period, provide data for the business year which terminates in the SBS reference year. These data are adjusted to the calendar year.
No further comments.
Structural business statistics (SBS) describes the structure, conduct and performance of economic activities, down to the most detailed activity level (several hundred economic sectors). SBS covers all activities of the business economy with the exception of agricultural activities, public administration and (largely) non-market services such as education and health. Main characteristics (variables) of the SBS data category:
• "Business demographic" variables (e.g. Number of active enterprises);
• "Output related" variables (e.g. Net turnover, Value added);
• "Input related" variables: labour input (e.g. Number of employees and self-employed persons, Hours worked by employees); goods and services input (e.g. Purchases of goods and services); capital input (e.g. Gross investments).
Business services statistics (BS) collection contains harmonised statistics on business services. From 2008 onwards BS become part of the regular mandatory annual data collection of SBS. The BS’s data requirement includes variable “Turnover” broken down by products and by type of residence of client.
The annual regional statistics collection includes three characteristics due by NUTS-2 country region and detailed on NACE Rev 2division level (2-digits).
29 August 2025
SBS constitutes an important and integrated part of the new European Business Statistics Regulation N° 2152/2019.
The statistical unit used is the Enterprise according to Council Regulation (EEC) No 696 / 93of 15 March 1993 on the statistical units for the observation and analysis of the production system in the Community and other methodological guidelines. The statistical unit Enterprise was fully implemented from the reference year 2018.
All active market enterprises with main activity in sections B-N, P-R and divisions S95 and S96 of NACE Rev. 2 classification system. The statistical business register is the frame for identifying units for the population. No thresholds are applied.
For section K, the identification of the units for the population is based on the business register of Statistical Service of Cyprus (Cystat). However, a cross comparison is carried out between the information from the business register of Statistical Service of Cyprus (Cystat) and Central Bank of Cyprus (CBC) register.
Republic of Cyprus.
2023.
The reference period is the calendar year.
A very small number of enterprises which use a different period, provide data for the business year that cover the biggest period of the SBS reference year. These data are adjusted to the calendar year.
The results of SBS are subject to sampling and non sampling errors.
Sampling errors are assessed with quality indicators.
Non-sampling errors can be caused from problems and errors in the Statistical Business Register. Such common problems are misclassification and non-coverage. The impact of these errors is considered to be small.
Regarding NACE Section K: preliminary and final data are produced based on the same source, with full coverage and no errors are recognized. Any updated information which includes all changes for the particular period and any changes that might occur in the data sources are taken into consideration.
Number of enterprises and number of local units are expressed in units.
Monetary data are expressed in millions of €.
Employment variables are expressed in units.
Per head values are expressed in thousands of € per head.
Ratios are expressed in percentages.
For all sections excluding K:
Due to the procedures followed during data collection (personal or telephone interview), the item non-responses are minimal and all the required information in the questionnaire is recorded. As a result, the number of incomplete questionnaires is very low. When actual figures for a specific variable are not available, these are estimated based on the previous year’s enterprises actual data and the trend of basic variables of the enterprise, or from administrative sources if available. Data for enterprises that do not respond are either estimated based on the previous year’s enterprises actual data and the trend of the responses of the same activity and size class, or a correction factor in the weighting procedure is applied.
For all sections excluding K:
Stratified sampling with stratification criteria activity, employment size class. The strata used for sampling are persons employed classes: 0-1, 2-9, 10-19, 20-49, 50-249, 250 and more.
The sampling frame is the Statistical Business Register. Turnover or employment are the main variables for identifying the principal and secondary activities, using a top-down approach. The Business Register is updated yearly. The unit's principal activity is also updated yearly.
For each stratum, a sample of predetermined size is drawn systematically with probability proportional to size, from a list ordered by enterprise size. Enterprises over a pre-defined size are fully covered.
Percentages of units sampled: 0-9 6%, 10-249 67%, 250+ 100%.
There is no threshold. The sample size is about 8.600 enterprises.
For section K:
The main administrative data source for the calculation of data for Financial Services Activities is the Central Bank of Cyprus (CBC). Regarding other monetary intermediation (MFIs), the CBC provides CYSTAT with all the necessary data for commercial banks through an analytical Quarterly Profit and Loss Survey Data (QPLSD) report, conducted by the CBC.
The main data source for Insurance data is the analytical Structural Business Statistics (SBS) data collected by the Insurance Companies Control Service on the annual accounts and consolidated accounts of insurance undertakings.
The data source for the calculation of Pension Funds data is the Registrar of Occupational Retirement Benefit Funds. Pension Funds submit for checking purposes their economic statements according to a specified format. The data is prepared in an aggregated form.
The data sources for the division of activities auxiliary to financial services and insurance activities are the Central Bank of Cyprus (CBC), the Cyprus Security and Exchange Commission (CySEC) and the Cyprus Stock Exchange. The required data is collected on an annual basis through financial statements which are obtained directly from the enterprises. The data covers all Cypriot investment firms regulated by CySEC and the Central Bank of Cyprus that are active in the reference year. Department of Registrar of Companies, VAT data and Tax data are also used in order to have completeness in data sources.
Annual.
Last data collection: t+17 months.
Dissemination - Eurostat: t+18 months.
Dissemination at national level: t+19 - t+24 months.
The whole of Cyprus is treated as one territory.
2008-2020; 2021(EBS)-2023
NACE sections B-N and division S95: 2008-2023.
NACE sections P, Q, R and division S96: 2021-2023 only.
