In September 2023, Cyprus’s industrial turnover showed a significant uptick, with a 6.7% increase during the first nine months compared to the previous year. Specifically, the Industrial Turnover Index reached 206.6 units in September, marking a 0.6% rise from September 2022, indicating a robust and growing industrial sector. Manufacturing and mining sectors performed well, while the utilities sector faced challenges. The increase in industrial turnover suggests economic resilience and inspires confidence among investors and businesses, providing a roadmap for future growth.
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.