Cyprus industrial production index sees 4.2 per cent increase in January

Cyprus’ Industrial Production Index for January 2024 saw a 4.2 per cent rise compared to the same period in 2023, reaching 99.5 units, with 2021 being the base year with a value of 100 units, according to a report released this week by the Cyprus Statistical Service (Cystat).

The report noted that there was a 3.2 per cent increase in the manufacturing sector, compared to January 2023.

In addition, increases were also noted in the sectors of water supply and material recovery (+33.8 per cent), mining and quarrying (+14.8 per cent), and electricity supply (+0.4 per cent).

The only negative changes were observed in the activities of manufacturing other non-metallic mineral products (-12.8 per cent) and production of petroleum refining products, chemical substances, pharmaceutical products, and preparations (-4.5 per cent).