Economy category powered by

Industrial production up 4.3% y-o-y in first two months of 2025

Industrial production was up by 4.3% in the first two months of this year on an annual basis, according to Cystat.

In particular, in February 2025, the Industrial Production Index reached 108.5 units (base 2021=100), recording an increase of 4.1% compared to February 2024. For the period January – February 2025, the index recorded an increase of 4.3% compared to the corresponding period of the previous year.

The official data show that the manufacturing sector registered an increase of 2.4% compared to February 2024. An increase was also observed in the sectors of electricity supply (+14.2%), mining and quarrying (+8.1%) and water supply and materials recovery (+3.8%).

In the manufacturing sector, the most significant positive changes compared to February 2024 were observed in the manufacturing of wood and products of wood and cork, except furniture (+8.1%), electronic and optical products and electrical equipment (+7.2%), other non-metallic mineral products (+5.1%) and food products, beverages and tobacco products (+4.3%).

CyStat notes that the only negative changes were observed in the manufacturing of paper and paper products and printing (-10.9%) and furniture and repair/installation of machinery and equipment (-2.3%).

Comparing the rates of change for the period January – February 2025 against the corresponding period of the previous year, the most significant positive changes were observed in water collection, treatment and supply (+14.3%), the manufacturing of other non-metallic mineral products (+13.6%), mining and quarrying (+12.3%) and the manufacturing of electronic and optical products and electrical equipment (+12.3%).

It says that the only activities where negative changes in production were registered were those relating to the manufacturing of paper and paper products and printing (-10.7%), materials recovery (-2.6%), the manufacturing of furniture and repair/installation of machinery and equipment (-2.1%) and the manufacture of refined petroleum products, chemicals and chemical products and pharmaceutical products and preparations (-0.7%).

Read More

The establishment of AMLA, upgraded requirements and compliance challenges for foreign businesses within the EU
Marios Cosma: Cyprus has been and will always be an investment destination
Larnaca 2030 issues open call to the city's business community
Threedium included in Top 500 fastest-growing tech companies in EMEA
Cyprus Integrity Forum suppoting police in fight against corruption
Wizz Air launching Larnaca to Barcelona route from October
Plenary amends constitution and gives right to vote to 17 year olds
Deputy Minister taking part in EU Competitiveness Council in Brussels
Industry Ministry Permanent Secretary discusses competitiveness of industry in Brussels
Average monthly earnings up 5% in Q4 2024