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Manufacturing sector in Cyprus registers increase of 6,9 percent

New figures report the Industrial Production Index in Cyprus reached 103,4 units (base 2021=100), recording an increase of 6,7% compared to February 2023.

For the period January – February 2024, the index recorded an increase of 5,8% compared to the corresponding period of the previous year.

The manufacturing sector registered an increase of 6,9% compared to February 2023.

An increase was also observed in the sectors of water supply and materials recovery (+33,8%) and mining and quarrying (+29,3%). A negative change was observed in the electricity supply sector (-5,2%).

In the manufacturing sector, the most significant positive changes compared to February 2023 were observed in the manufacturing of other non-metallic mineral products (+15,7%), furniture and repair/installation of machinery and equipment (+14,9%), machinery and equipment, motor vehicles and other transport equipment (+13,4%) and basic metals and fabricated metal products (+10,1%). The only negative change was observed in the manufacturing of paper and paper products and printing (-2,3%).

Famagusta Gazette