The Cyprus Statistical Service released its bimonthly economic development bulletin on Tuesday, covering activity across a number of sectors for January and February 2025.

Specifically, the report offers detailed updates on major indicators, as well as comparative data from the past four years, available up to April 14, 2025.

According to the bulletin, manufacturing production in January 2025 increased by 3.7 per cent compared to January 2024, indicating a strong start to the year for the sector.

In construction, the total area of approved building permits for the twelve-month period from January to December 2024 reached 2,321,800 square metres, representing a 1.2 per cent increase over the same period in the previous year. This suggests continued momentum in property development.

On the transport front, motor vehicle registrations dropped by 8.8 per cent in the first two months of 2025, totalling 7,834 units.

Private saloon cars recorded a sharper decline of 13.1 per cent, falling to 5,495 units.

In contrast, light commercial vehicles saw a modest rise of 1.0 per cent, reaching 773 units, compared with January–February 2024.

Inflation remained relatively moderate, with the Consumer Price Index rising by 2.2 per cent over the same two-month period, compared to the previous year.

External trade showed strong performance, with imports of goods rising to €2.16 billion in January–February 2025, an increase of 24.8 per cent year-on-year.

Exports experienced even more dynamic growth, reaching €913.3 million, up 55.9 per cent compared to the same period in 2024.

Tourism also continued its upward trajectory. Tourist arrivals totalled 245,860 in the first two months of 2025, marking a 15.4 per cent increase from the 212,995 arrivals during the same period last year.

These figures suggest a broadly positive economic trend for Cyprus in early 2025, with strong performances in manufacturing, construction, trade and tourism, although car sales appear to be softening.