Cyprus’ Industrial Turnover Index rose by 3.5 per cent in May 2026, reaching 148 units, according to figures released on Wednesday by the statistical service (Cystat). 

For the first five months of the year, the index recorded a cumulative increase of 3.4 per cent compared with the corresponding period of 2025. 

The figures are calculated using 2021 as the base year, meaning the index measures monthly turnover changes in relation to the average monthly turnover recorded during that year. 

Manufacturing remained the main contributor to industrial turnover, with its index reaching 151.4 units in May, reflecting an annual increase of 2.6 per cent. 

For the January to May period, manufacturing turnover was up 3.5 per cent year-on-year. 

Within manufacturing, the strongest annual growth was recorded in furniture, other manufacturing and the repair and installation of machinery and equipment, where turnover rose by 14.6 per cent in May. However, the category remained down 1.9 per cent over the first five months of the year. 

The manufacture of wood and products of wood and cork, excluding furniture, also continued to perform strongly, with turnover increasing by 9.9 per cent in May and by 20 per cent over the five-month period. 

Basic metals and fabricated metal products recorded further growth, rising by 7.3 per cent in May and by 9.7 per cent between January and May. 

Meanwhile, refined petroleum products, chemicals, chemical products and pharmaceutical products and preparations increased by 6.9 per cent in May, although the five-month rise was more limited at 1.7 per cent. 

Rubber and plastic products also recorded gains, with turnover increasing by 3.3 per cent in May and by 4.4 per cent over the January to May period. 

Electronic and optical products and electrical equipment remained broadly stable in May, rising by 0.2 per cent. Nevertheless, the category recorded the steepest cumulative decline, with turnover down 9.8 per cent over the first five months of the year. 

Food products, beverages and tobacco products recorded a more modest increase, with turnover up 0.4 per cent in May and 2.8 per cent in the January to May period. 

However, several manufacturing categories recorded annual declines in May. 

Machinery and equipment, motor vehicles and other transport equipment fell by 10.7 per cent in May, although turnover remained up 3.7 per cent over the five-month period. 

Paper and paper products and printing declined by 3.2 per cent in May and by 2.5 per cent between January and May. 

Other non-metallic mineral products also fell by 2.6 per cent in May, although the category remained up 1.2 per cent for the first five months of the year. 

Similarly, textiles, wearing apparel and leather products declined by 1.4 per cent in May but recorded cumulative growth of 2.5 per cent. 

Outside manufacturing, mining and quarrying reached 183.2 units, recording an annual increase of 2.1 per cent in May. For the first five months of the year, the sector was up 1.9 per cent. 

Water supply and materials recovery recorded considerably stronger growth, with the index reaching 136.7 units. The sector rose by 13.8 per cent in May and by 8.8 per cent in the January to May period. 

More specifically, materials recovery increased by 24.5 per cent in May and by 18.1 per cent over the five-month period, making it the strongest-performing category in the table. 

Water collection, treatment and supply also rose by 8.5 per cent in May and by 3 per cent between January and May. 

Electricity supply increased by 6.1 per cent in May, with the index standing at 131.2 units. For the first five months of the year, the sector recorded a rise of 1.6 per cent. 

The local market index reached 150.4 units, rising by 4.3 per cent in May and by 4.1 per cent in the January to May period. By contrast, the export market index stood at 135.1 units, recording an annual decline of 1 per cent in May and remaining down 0.6 per cent for the first five months of the year.