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Employment and production value fell in Cypriot industrial sector in 2020

cyprus business now manufacturing industrial sector industry

Employment in the broad industrial sector decreased in 2020 by 1.5 per cent to 39,100 compared to 39,700 in 2019, according to the results of the Survey on Industrial Production 2020, published by the Cyprus Statistical Service on Monday.

Production value at current prices also recorded a decrease of 5.2 per cent to €4,719.2 million in 2020 compared to €4.97 billion in 2019.

The survey shows that in manufacturing, employment reached 34,500, in mining and quarrying 500, in electricity supply 2,200 thousand and in water supply, sewerage and waste management 1,900 persons.

Additionally, in the industrial sector as a whole, production value at current prices recorded a decrease of 5.2 per cent to €4.7 billion in 2020 compared to €4.97 billion in 2019.

In manufacturing, production value decreased by 2.2 per cent to €3.58 billion, in mining and quarrying by 3.4 per cent to €66 million, in electricity supply by 17.4 per cent to €740.4 million and in water supply, sewerage and waste management by 5.3 per cent to €326.7 million.

Moreover, value added at current prices decreased by 4.3 per cent in the industry as a whole and reached €1.75 billion in 2020 compared to €1.83 billion in 2019.

In manufacturing, value added decreased by 1.9 per cent to €1.31 billion, in mining and quarrying by 5 per cent to €26 million and in electricity supply by 19 per cent to €245 million.

Finally, in water supply, sewerage and waste management the value added increased by 3.2 per cent to €161.3 million.

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