Cyprus’ industrial sector generated higher value added and recorded a modest increase in employment during 2024, according to figures released by the Cyprus Statistical Service (Cystat), with manufacturing remaining the main driver of growth.

The statistical service reported that employment across the broad industrial sector increased by 0.5 per cent to 42,800 people in 2024, up from 42,600 in the previous year.

Within the sector, manufacturing employed 38,000 people, while mining and quarrying accounted for 600 employees, electricity supply employed 2,400 people, and water supply, sewerage and waste management employed 1,900 people.

The total value of industrial production at current prices reached €6.95 billion in 2024, representing a marginal 0.1 per cent increase from €6.94 billion recorded in 2023.

Manufacturing delivered the strongest contribution to overall production, with its production value increasing by 3.6 per cent to €5.02bn.

By contrast, production value in the electricity supply sector declined by 3.8 per cent to €1.38bn.

Production value in water supply, sewerage and waste management fell by 15.5 per cent to €407.6 million.

Meanwhile, mining and quarrying recorded the steepest decline, with production value decreasing by 20.2 per cent to €135.3m.

The survey also showed that value added across the entire industrial sector increased by 3.3 per cent, rising from €2.24bn in 2023 to €2.32bn in 2024.

Manufacturing again recorded the strongest performance, with value added increasing by 6.8 per cent to €1.75bn.

The electricity supply sector also posted growth, with value added rising by 1.9 per cent to €362.7m.

However, value added in water supply, sewerage and waste management declined by 19.5 per cent to €160.6m.

In mining and quarrying, value added fell by 9.3 per cent to €43.3m, the statistical service reported.

The latest findings highlight the continued importance of manufacturing to Cyprus’ industrial base, offsetting weaker performances across several other industrial activities.

The figures come as industrial producer prices in Cyprus continue to rise sharply, reflecting ongoing cost pressures facing manufacturers and other industrial businesses.

According to Eurostat, Cyprus recorded the largest month-on-month increase in industrial producer prices across the European Union in May 2026, with prices rising by 3.6 per cent compared with April.

This was well above the 0.2 per cent monthly increase recorded across both the euro area and the EU as a whole.

On an annual basis, industrial producer prices increased by 5.9 per cent across the euro area and 5.7 per cent across the EU between May 2025 and May 2026.

Within the euro area, intermediate goods prices increased by 1.4 per cent during May, while energy prices declined by 1.0 per cent, illustrating the mixed cost trends affecting Europe’s industrial sector.