Τhe Industrial Production Index in June 2022 reached 142.1 units, recording an increase of 2% compared to June 2021. Similarly, for the period January – June 2022, the index recorded an increase of 4.2% compared to the corresponding period of the previous year.
According to data of the Statistical Service, the manufacturing sector registered an increase of 2.4% compared to June 2021. An increase was also observed in the sector of electricity supply (+1.2%). Negative changes were observed in the sectors of mining and quarrying (-5.3%) and water supply and materials recovery (-0.8%).
In the manufacturing sector, the most significant positive changes compared to June 2021 were observed in the manufacturing of textiles, wearing apparel and leather products (+29.3%), furniture and repair/installation of machinery and equipment (+22.9%) and refined petroleum products, chemicals and chemical products and pharmaceuticals products and preparation (+7.6%).
At the same time, the most significant negative changes were observed in the manufacturing of electronic, optical products and electrical equipment (-25.6%) and the manufacturing of basic metals and fabricated metal products (-5.4%).
Comparing the rates of change for the period January – June 2022 against the corresponding period of the previous year, the most significant positive changes were observed in the economic activities of manufacturing of textiles, wearing apparel and leather products (+44.8%), water collection, treatment and supply (+27.1), manufacturing of furniture and repair/installation of machinery and equipment (+18.9%) and electricity supply (+10.6%).
The most significant negative changes where a decrease in production was observed, compared to the period January – June 2021, were those relating to the manufacturing of electronic and optical products and electrical equipment (-19%), manufacturing of wood and products of wood and cork, except furniture (-6.2%), materials recovery (-5.7%) and the manufacturing of paper, paper products and printing (-5.6%).
Source: Cyprus News Agency