The Industrial Production Index increased by 4.1% in the period January - September 2024, compared to the corresponding period of 2023, according to data published on Thursday by the Cyprus Statistical Service.

Comparing the rates of change for the period January – September 2024 against the corresponding period of the previous year, the most significant positive changes were observed in water collection, treatment and supply (+22.1%), the manufacturing of electronic and optical products and electrical equipment (+15,3%), mining and quarrying (+12.9%), the manufacturing of machinery and equipment, motor vehicles and other transport equipment (+11.5%) and materials recovery (+10.6%).

The most important activities where negative changes in production were registered were those relating to the manufacturing of paper and paper products and printing (-8.8%) and the manufacturing of textiles, wearing apparel and leather products (-2.2%).

In September 2024, the Industrial Production Index reached 114.9 units (base 2021=100), recording an increase of 2.3% compared to September 2023.

The manufacturing sector registered an increase of 2.3% compared to September 2023. An increase was also observed in the sectors of mining and quarrying (+11.8%) and water supply and materials recovery (+7.2%). A negative change was observed in electricity supply (-1.8%).

In the manufacturing sector, the most significant positive changes compared to September 2023 were observed in the manufacturing of machinery and equipment, motor vehicles and other transport equipment (+16.4%), electronic and optical products and electrical equipment (+11.2%) and basic metals and fabricated metal products (+10.8%).

The most important negative changes were observed in the manufacturing of paper and paper products and printing (-13.6%), other non-metallic mineral products (-3.4%) and furniture and repair/installation of machinery and equipment (-3%).