Industrial production in Cyprus increased by 4.1 per cent in the first nine months of 2024 compared to the same period in 2023.

This was supported by growth in manufacturing, mining, and water supply, according to the Cyprus Statistical Service (Cystat).

In September 2024, the index reached 114.9 points, with the base year set at 2021 equal to 100. This reflected a 2.3 per cent rise compared to September 2023.

Similarly, the manufacturing sector posted a 2.3 per cent year-on-year growth.  

Moreover, mining and quarrying increased by 11.8 per cent, while water supply and materials recovery grew by 7.2 per cent. In contrast, the electricity supply sector declined by 1.8 per cent. 

Breaking down the manufacturing data further, the most notable gains were observed in the manufacture of machinery and equipment, motor vehicles, and other transport equipment, which grew by 16.4 per cent compared to September 2023.  

Additionally, significant increases were reported in the manufacture of electronic and optical products and electrical equipment, which rose by 11.2 per cent, and in basic metals and fabricated metal products, which increased by 10.8 per cent. 

Conversely, certain sectors faced setbacks. The manufacture of paper and paper products and printing experienced the steepest decline, falling by 13.6 per cent.  

Similarly, the manufacture of other non-metallic mineral products dropped by 3.4 per cent, while the manufacture of furniture and repair or installation of machinery and equipment decreased by 3.0 per cent. 

Looking at the period from January to September 2024, water collection, treatment, and supply recorded the strongest growth, surging by 22.1 per cent compared to the same period in 2023. 

This was followed by the manufacture of electronic and optical products and electrical equipment, which grew by 15.3 per cent, and mining and quarrying, which increased by 12.9 per cent.  

The manufacture of machinery and equipment, motor vehicles, and other transport equipment rose by 11.5 per cent, while materials recovery grew by 10.6 per cent. 

Meanwhile, declines over the nine-month period were most pronounced in the manufacture of paper and paper products and printing, which fell by 8.8 per cent, and the production of textiles, wearing apparel, and leather goods, which decreased by 2.2 per cent.