The production in the construction sector in Cyprus saw a notable increase of 3.5 per cent in 2024 compared to 2023, according to the latest data released by the state statistical service this week.

Additionally, the Producer Price Index for Construction recorded a rise of 4.5 per cent during the same period.

For the fourth quarter of 2024, the Construction Production Index reached 115.78 units (with 2021 set as the base year, where 100 points represents the baseline), reflecting a decrease of 1.8 per cent compared to the fourth quarter of 2023.

However, for the full year, from January to December 2024, the Construction Production Index showed a solid increase of 3.5 per cent in comparison to the same period in 2023.

In terms of construction prices, the Producer Price Index for Construction for the fourth quarter of 2024 stood at 122.07 units (again, with 2021 as the base year).

This figure represents an increase of 1.2 per cent compared to the third quarter of 2024.

When compared to the same quarter of the previous year, the index rose by 4.8 per cent.

For the year as a whole, the Producer Price Index for Construction saw an overall increase of 4.5 per cent from January to December 2024, when compared to the same period in 2023.