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.
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.
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.
