Industrial production in Cyprus rose by 0.6% in February 2023 compared with the respective period of last year, data released by the Statistical Service of Cyprus (Cystat) show. The February 2023 Industrial Production Index reached 125.4 units (base 2015=100), compared with 124.7 in the same period of last year. For the period January – February 2023, the index remained stable compared to the corresponding period of the previous year, Cystat said. The manufacturing sector registered an increase of 0.9% compared to February 2022. The electricity supply sector rose by an annual 0.2%, while negative annual changes were recorded in the sectors of mining and quarrying with 2.6% and water supply and materials recovery with 2.5%, Cystat added. In the manufacturing sector, the most significant positive changes compared to February 2022 were observed in the manufacturing of food products, beverages and tobacco products with 6.7%, machinery and equipment, motor vehicles and other transport equipment with 4.8%, refined petroleum products, chemicals and chemical products and pharmaceutical products and preparations with 4.4% and textiles, wearing apparel and leather products with 3.2%. According to Cystat, the most important negative changes were observed in the manufacturing of electronic, optical products and electrical equipment with 30.2%, other non-metallic mineral products with 5.2% and the manufacturing of rubber and plastic products with 5.0%.
Source: Cyprus News Agency