Industrial Turnover jumps by annual 21,7% in Q1 2022

Industrial Turnover in Cyprus jumped by an annual 21.7% in the period of January – March 2022, with the index in March 2002 rising by 24.6% year on year.

According to the Statistical Service of Cyprus (CyStat), the Industrial Turnover Index reached 171.6 units (base 2015=100).

In manufacturing, the Industrial Turnover Index for March 2022 reached 165,6 units, recording an increase of 16.5% compared to March 2021. Increases were also noted in the sectors of electricity supply (77.7%) and water supply and materials recovery (18,8%).

The mining and quarrying sector recorded a decrease of 5.0% compared to March 2021, CyStat added.

Industrial Turnover Index in exports declined to 158.8 units, marking an annual reduction of 0.7% whereas the index for the period of January – March 2022 rose by 2.9% year on year.

Source: Cyprus News Agency