Cyprus industrial production index sees 4.2 per cent increase in January
Cyprus’ Industrial Production Index for January 2024 saw a 4.2 per cent rise compared to the same period in 2023, reaching 99.5 units, with 2021 being the base year with a value of 100 units, according to a report released this week by the Cyprus Statistical Service (Cystat).
The report noted that there was a 3.2 per cent increase in the manufacturing sector, compared to January 2023.
In addition, increases were also noted in the sectors of water supply and material recovery (+33.8 per cent), mining and quarrying (+14.8 per cent), and electricity supply (+0.4 per cent).
Furthermore, positive changes were evident in the manufacturing sector compared to January 2023.
Specifically, there were significant increases in the production of basic metals and the manufacture of metal products by 24 per cent, and the manufacture of electronic and optical products and electrical equipment by 13.2 per cent.
Additionally, increases were observed in the production of textiles, clothing, and leather goods by 9.9 per cent, the manufacture of rubber and plastic products by 9.2 per cent, and the manufacture of machinery, equipment, motor vehicles, and other transport equipment by 7.6 per cent.
The only negative changes were observed in the activities of manufacturing other non-metallic mineral products (-12.8 per cent) and production of petroleum refining products, chemical substances, pharmaceutical products, and preparations (-4.5 per cent).