Industrial Output Prices Index – Annual Change -3,0% – Feb 2024

The Index of Industrial Output Prices for February 2024 reached 122,6 units (base 2021=100), recording an increase of 0,1% compared to January 2024. Compared to the corresponding month of the previous year, the index recorded a decrease of 3,0%. For the period January-February 2024, the index showed a decrease of 2,9% compared to the corresponding period of 2023.

In February 2024 compared to January 2024, the index remained stable in the sector of mining and quarrying, while it showed a rise in the sectors of water supply and materials recovery by 1,2% and manufacturing by 0,1%. In the sector of electricity supply the index recorded a decrease of 0,2%.

Compared to the corresponding month of the previous year, an increase was recorded in the sectors of mining and quarrying (1,2%) and manufacturing (0,1%) and a decrease in the sectors of electricity supply by 13,6% and water supply and materials recovery by 3,4%.

By division of economic activity in manufacturing, in February 2024 compared to the corresponding month of the previous year, increases were recorded in the manufacture of furniture, other manufacturing and repair and installation of machinery and equipment (3,0%), the manufacture of refined petroleum products, chemicals and chemical products and pharmaceutical products and preparations (2,8%), the manufacture of electronic and optical products and electrical equipment (2,4%), the manufacture of food products and beverages (1,7%) and the manufacture of textiles, wearing apparel and leather products (1,5%), while a decrease was recorded in the manufacture of basic metals and fabricated metal products (-7,4%), the manufacture of paper and paper products and printing (-3,3%) and the manufacture of rubber and plastic products (-2,1%).

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Imports, Sales and Stocks of Petroleum Products – Annual Change in Sales 7,1 % – Feb 2024

In February 2024, the total sales of petroleum products amounted to 115.421 tonnes, recording an increase of 7,1% compared to February 2023. A rise was recorded in the provisions of marine gasoil (48,2%) and aviation kerosene (8,7%), as well as in the sales of asphalt (62,9%), heavy and light fuel oil (46,1% and 15,2% respectively), motor gasoline (9,5%) and road diesel (9,3%). On the contrary, a decrease was observed in the sales of kerosene (-34,5%), heating gasoil (-24,0%) and liquefied petroleum gases
(-12,6%). As far as the sales from filling stations are specifically concerned, these have registered a rise of 4,2% to 55.909 tonnes.

The total sales of petroleum products in February 2024 compared to January 2024 recorded an increase of 5,2%. Indicatively, a rise was recorded in the sales of road diesel (3,8%) and motor gasoline (1,6%), yet the provisions of aviation kerosene dropped by 4,9%.

The total stocks of petroleum products at the end of February 2024 fell by 13,4% compared to the end of the previous month.

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This is the weekly information bulletin, for the 2 weeks up to 15/3/2024 with comprehensive briefing in matters of direct and indirect taxation. The links will be valid until 19/04/2024.

PDF – KEBE Tax Update to 150324

Turnover Value Index in the Divisions of Wholesale Trade and of Trade/Repair of Motor Vehicles – Annual change +2,8% in Wholesale Trade and +28,3% in Motor Vehicles – 4th Quarter 2023

The Turnover Value Index of Wholesale Trade (Division 46) during the fourth quarter of 2023 recorded an increase of 2,8% compared to the corresponding quarter of the previous year. For the same quarter, the Turnover Value Index of Sales and Repair of Motor Vehicles (Division 45) recorded an increase of 28,3% compared to the corresponding quarter of the previous year.

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