Cyprus industrial sector value added rises 11.3 per cent in 2023
Employment in Cyprus’ industrial sector rose by 1.2 per cent in 2023, reaching 42,600 people compared to 42,100 in 2022, according to official figures published in the Survey on Industrial Production 2023.
The largest share of industrial employment was in manufacturing, which accounted for 37,400 jobs.
Mining and quarrying employed 600 people, electricity supply 2,400, and the water supply, sewerage and waste management sector 2,300.
The total production value across the industrial sector, measured at current prices, rose by 5.50 per cent to €6.94 billion in 2023, up from €6.58 billion in 2022.
Production value in manufacturing increased by 7.50 per cent to €4.85 billion, while electricity supply saw a modest increase of 0.30 per cent, reaching €1.44 billion.
Production in the water supply, sewerage and waste management sector rose by 1.00 per cent to €482.10 million.
The mining and quarrying sector experienced a 7.90 per cent increase in production value, reaching €169.60 million.
Total value added at current prices across the industrial sector rose by 11.30 per cent in 2023, reaching €2.25 billion compared to €2.02 billion in 2022.
In manufacturing, value added rose by 11.60 per cent to €1.64 billion.
The electricity supply sector recorded a 17.50 per cent increase in value added, rising to €356.00 million.
The water supply, sewerage and waste management sector saw a marginal increase of 0.20 per cent, reaching €199.40 million.
Value added in the mining and quarrying sector increased by 7.30 per cent to €47.70 million.