Cyprus industrial index up by 0.3 per cent in December 2023
Cyprus’ Industrial Business Cycle Index for the month of December 2023 reached 180.1 units, with 2015 being the base year, marking a 0.3 per cent increase compared to December 2022.
According to a report released this week by the Cyprus Statistical Service (Cystat), covering the period from January to December 2023, the index exhibited a notable rise of 5.8 per cent, when compared to the corresponding period in the previous year.
Specifically, within the manufacturing sector, the index reached 186.8 units in December 2023, reflecting a 1.6 per cent increase compared to December 2022.
What is more, the report highlighted additional growth in the water supply and materials recovery sectors, with increases of 21 per cent and 9.4 per cent, respectively.
On the other hand, a decrease of 12.4 per cent was observed in the electricity supply sector.
Relatedly, industrial production in Cyprus witnessed an increase of 2.4 per cent in 2023 compared to the previous year, according to Cystat.
Cyprus’ Industrial Production Index reached 136.1 units in December 2023, with 2015 being the base year, marking a 2.3 per cent rise compared to the same month in 2022.
Moreover, during 2023, the index experienced an increase of 2.4 per cent compared to the previous year.