The CyStat statistical service has published new data regarding the evolution of the Industrial Production Index in Cyprus.
According to experts' estimates, this index reached 136.1 units in December 2023, an increase of 2.3% compared to the same month in 2022.
The manufacturing sector saw an increase of 0.8% compared to December 2022. Increases were also recorded in the water supply and material recovery (+27.7%), electricity supply (+3.8%), and mining (+5.3%) sectors.
In manufacturing, the most significant positive year-on-year changes occurred in the manufacture of electronic, optical products, and electrical equipment (+25.9%), manufacture of metal products (+13.7%), and manufacture of rubber and plastic products (+1.3%).
In contrast, the most significant negative changes were observed in the production of furniture and repair/assembly of machinery and equipment (-5.9%), the production of textiles, clothing, and leather goods (-4.1%) and the production of other non-metallic mineral products (-4.0%).
In turn, between January and December 2023, the Index increased by 2.4%.
During this time, the most significant growth occurred in the production of electronic and optical products and electrical equipment (+28.2%), in the manufacture of machinery and equipment (+11.5%), in the production of metals and metal products (+10.9%), in mining (+9.3%) and in mining (+7.9%).
On the contrary, declines compared to 2022 were recorded in the manufacture of furniture and repair/assembly of machinery and equipment (-7.3%), electricity supply (-1.3%), and rubber and plastic products. (-0,1%).