industrial production

economy manufacturing

Cyprus Industrial Production Gains Momentum in February

Cyprus’s industrial production showed a robust growth in February, with the Industrial Production Index rising by 6.7 percent yearonyear to 103.4 points, driven by a 6.9 percent increase in manufacturing. Sectors like nonmetallic mineral products and machinery and equipment saw significant growth, reflecting a resilient and diversifying economy.

economics industrial production

Cyprus Industrial Producer Prices Experience Decline in February

Cyprus industrial producer prices dropped by 3.0% in February 2024 compared to the previous year, with the electricity supply sector seeing a stark 13.6% decrease. This decline reflects economic trends and inflationary pressures within the industrial sector, showcasing the interconnectedness of different industries within the economy.

manufacturing industrial production

Cyprus Business Now: A Snapshot of Economic Activity

Cyprus’s Industrial Production Index rose to 142.9 units in September, with manufacturing leading the way with a 4.0% increase. Water supply and material recovery also saw significant growth, while mining and electricity supply faced reductions. Education initiatives and environmental recognition are supporting sustained economic development.

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