Cyprus industrial turnover index rises in April

Cyprus’ Industrial Turnover Index rose by 11.1 per cent in April 2024, when compared with the same month of the previous year, according to a report released on Friday by the Cyprus Statistical Service (Cystat).

Delving into the details, the industrial index for April 2024 climbed to 133.8 points, based on the 2021 benchmark of 100 points.

The manufacturing sector experienced a remarkable upswing, with its index soaring to 137.7 points. This represents a 13.8 per cent increase from April 2023.

The water supply and materials recovery sector made significant strides, surging by an impressive 59.4 per cent.

Moreover, the mining and quarrying sector also posted substantial growth, up 39.2 per cent.

Conversely, the electricity supply sector didn’t fare as well, experiencing a decline of 12.7 per cent.

Finally, when looking at the broader picture from January to April 2024, the index overall demonstrated a steady rise of 3.1 per cent, when compared to the same period in the preceding year.