Cyprus’ industrial production index dropped by 4.9 per cent in November 2024, compared to the same month in 2023.

Specifically, the index stood at 102.7 points, using 2021 as the base year set at 100 points, according to the state statistical service.

The report showed that a notable 44.2 per cent drop was recorded in the production of non-metallic mineral products, a sector impacted by the long-running strike in the ready-mixed concrete industry that began in November.

In the manufacturing sector, production fell by 6.1 per cent compared to the same month in 2023, while mining and quarrying activities experienced a sharp decline of 23.6 per cent.

However, positive changes were observed in the supply of water and materials recovery, which rose by 11.4 per cent, and in electricity production, which increased by 0.7 per cent.

Within manufacturing, key positive performances included a 13.7 per cent increase in the production of machinery, motor vehicles, and other transport equipment.

Additionally, production of rubber and plastic products rose by 7.5 per cent, while electronic and optical products, as well as electrical equipment, grew by 6.9 per cent.

Conversely, the most significant declines in manufacturing were recorded in the production of non-metallic mineral products, which dropped by 44.2 per cent, followed by paper and printing production, down by 18 per cent, and furniture manufacturing and the repair or installation of machinery and equipment, which fell by 14.4 per cent.

For the January–November 2024 period, the industrial production index showed an overall increase of 2.8 per cent compared to the same period in 2023.

During the first 11 months of 2024, the most notable increases were observed in water collection, treatment, and supply, which grew by 22.8 per cent.

Other significant gains were recorded in the production of electronic and optical products and electrical equipment, up by 12.2 per cent, machinery and transport equipment manufacturing, which rose by 9.9 per cent, materials recovery (8.6 per cent), and mining and quarrying (8 per cent).

However, some sectors experienced declines in production during the same period.

Paper and printing activities saw a reduction of 11.7 per cent, while non-metallic mineral products dropped by 4.9 per cent.

What is more, textile, clothing, and leather production fell by 4.5 per cent.