Economy category powered by

Industrial production up 4.2% in January

Cyprus’ Industrial Production Index surged to 99.5 units (base year 2021=100), marking an annual increase of 4.2% compared to the same period in 2023, according to Cystat.

The manufacturing sector recorded a 3.2% uptick compared to January 2023. Notable increases were also evident in other key sectors. The water supply and materials recovery sector saw a substantial rise of 33.8%, while mining and quarrying activities increased by 14.8%. Additionally, there was a marginal increase of 0.4% in electricity supply.

Within the manufacturing sector, the most significant positive changes compared to January 2023 were observed in the production of basic metals and fabricated metal products that surged by 24.0%. Similarly, electronic and optical products, along with electrical equipment manufacturing, witnessed a notable rise of 13.2%.

Moreover, the textile, apparel, and leather goods sector grew 9.9%, and the manufacturing of rubber and plastic products also saw a significant uptick of 9.2%.

Contrary, the manufacturing of other non-metallic mineral products registered a decline of 12.8%, while there was a 4.5% decrease in the manufacturing of refined petroleum products, chemicals, and pharmaceuticals.

Read More

Serious risks to the Cyprus economy if tensions escalate - The business world’s concerns
Αgriculture Minister to take part in 'Our Ocean Conference' in Athens
Energy Minister in Abu Dhabi for IRENA Assembly meeting
President Christodoulides holding meetings in London to promote investment
Keravnos reassures that Cyprus economy is not at risk from regional developments
Christodoulides visiting London to promote Cyprus as a business and investment destination
The car brands that buyers preferred in the first quarter of 2024
We are entitled to ask for an updated cost-benefit analysis of electricity interconnection, Energy Minister says
Cyprus and Japan to renew talks on strengthening economic and business ties
Deputy Minister underlines efforts to enhance Cyprus' tourism competitiveness