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Industrial production rose 0.6% in February

Industrial production in Cyprus rose by 0.6% in February compared with the same period of last year, according to Cystat.

The February 2023 Industrial Production Index reached 125.4 units (base 2015=100), compared with 124.7 in the same period of last year.

In January – February 2023, the index remained stable compared to the corresponding period of the previous year.

The manufacturing sector registered an increase of 0.9% compared to February 2022. The electricity supply sector rose by an annual 0.2%, while negative annual changes were recorded in the sectors of mining and quarrying with 2.6% and water supply and materials recovery with 2.5%.

In the manufacturing sector, the most significant positive changes compared to February 2022 were observed in the manufacturing of food products, beverages and tobacco products with 6.7%, machinery and equipment, motor vehicles and other transport equipment with 4.8%, refined petroleum products, chemicals and chemical products and pharmaceutical products and preparations with 4.4% and textiles, wearing apparel and leather products with 3.2%.

The most important negative changes were observed in the manufacturing of electronic, optical products and electrical equipment with 30.2%, other non-metallic mineral products with 5.2% and the manufacturing of rubber and plastic products with 5.0%.

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