In April 2022, the Industrial Production Index reached 126 units (base 2015=100), recording an increase of 0.6% compared to April 2021, according to data published by the Cyprus Statistical Service.
The manufacturing sector registered an increase of 0.2% compared to April 2021. An increase of 19.7% was also observed in the sector of water supply and materials recovery and a 1% increase in the sector of electricity supply. The mining and quarrying sector recorded a decrease of 13.1% compared to April 2021.
According to the data, in the manufacturing sector, the most significant positive changes compared to April 2021 were observed in the manufacturing of textiles, wearing apparel and leather products, with an increase of 54.5%, furniture and repair/installation of machinery and equipment with 13.6% and machinery and equipment, motor vehicles and other transport equipment with a 4.2% increase.
The most significant negative changes were observed in the manufacturing of electronic, optical products and electrical equipment, that recorded a 33% decrease, paper, paper products and printing with a decrease of 17% and wood and products of wood and cork, except furniture with a 9.9% decrease.
Furthermore, for the period January – April 2022, the index recorded an increase of 3.8% compared to the corresponding period of the previous year.
Comparing the rates of change for this period 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, that increased by 60.4%, water collection, treatment and supply, by 43.5%, electricity supply, by 16.1%, manufacturing of furniture and repair/installation of machinery and equipment with an increase of 12.6%) and manufacturing of machinery and equipment, motor vehicles and other transport equipment by 5.4%.
The most significant negative changes where a decrease in production was observed compared to the period January – April 2021 were those relating to the manufacturing of electronic and optical products and electrical equipment, with a decrease of 16.6%, materials recovery, by 14.2%, the manufacturing of paper, paper products and printing. by 13.1%, the manufacturing of wood and products of wood and cork, except furniture with a decrease of 9.5%, mining and quarrying by 8.8% and the manufacturing of non-metallic mineral products by 6.9%.
Source: Cyprus News Agency