Cyprus industrial turnover drops 3.4 per cent in August

The industrial turnover index in Cyprus stood at 115.2 units in August 2025, marking a decrease of 3.4 per cent compared with August 2024, according to figures released this week by the Cyprus Statistical Service (Cystat).

For the period January to August 2025, the index recorded an overall increase of 4 per cent compared with the same period of the previous year.

In the manufacturing sector, the index reached 105.0 units, recording an annual increase of 1.2 per cent.

In mining and quarrying, the index increased by 2.1 per cent, while in electricity supply and water supply and materials recovery it decreased by 15.7 per cent and 1.3 per cent, respectively.

The manufacture of wood and cork products increased by 18.4 per cent, while machinery, motor vehicles and other transport equipment recorded a rise of 13.3 per cent, while the manufacture of refined petroleum, chemical and pharmaceutical products increased by 6 per cent, and basic metals and fabricated metal products by 3.5 per cent.

In contrast, decreases were observed in the manufacturing of textiles, wearing apparel and leather products, which fell by 18 per cent, and in electronic and optical products and electrical equipment, which fell by 13.4 per cent.

Reductions were also recorded in paper, printing and related products (down 9.7 per cent) and in furniture and other manufacturing (down 9.4 per cent).

For the period January to August 2025, turnover in manufacturing increased by 7.4 per cent compared with the corresponding period of 2024.

In the same period, mining and quarrying recorded an increase of 11.8 per cent, while electricity supply and water supply and materials recovery decreased by 9.2 per cent and 1.4 per cent, respectively.

By market segment, turnover in the local market decreased by 4.2 per cent, whereas turnover in the export market increased by 1.9 per cent compared with August 2024.

Cystat explained that the industrial turnover index reflects the monthly changes of turnover in mining and quarrying, manufacturing, electricity supply, water supply and materials recovery.

The index excludes sewerage, waste collection and remediation activities and is also compiled by main industrial groupings such as intermediate goods, energy, capital goods, durable consumer goods and non-durable consumer goods.

The index uses 2021 as the base year, meaning it shows monthly changes in turnover in relation to the average monthly turnover of that year.

“In the base year, the average of the turnover indices for the twelve months is 100,” Cystat notedm adding that “for example a monthly turnover index of 112.4 means that turnover for the specific month has increased by 12.4 per cent in relation to the average monthly turnover of 2021.”

Data are collected by telephone or e-mail, starting five to ten days after the end of each reference period and normally completed within two months.

All enterprises with turnover of €2 million and above, or employing 20 or more persons, are fully covered, while a sample is taken from smaller enterprises.