Industrial Turnover in Cyprus Sees Growth in May and Early 2025 Despite Sectoral Declines

The industrial turnover index in Cyprus posted an annual increase both for the month of May and across the first five months of 2025, according to the latest figures released by the Statistical Service.

In May 2025, the index rose to 140.1 units, using 2021 as the base year set at 100 units. This represented a year-on-year increase of 5.4 per cent compared to May 2024, reflecting a positive performance in Cyprus' industrial sector.

From January to May 2025, the index saw a cumulative rise of 4.5 per cent when compared with the same period in 2024, underlining a continued upward trajectory in industrial activity despite fluctuations within specific sectors.

One of the strongest contributors to this growth was the manufacturing sector, which demonstrated substantial improvement during May. The manufacturing index climbed to 143.2 units, marking a notable increase of 9.3 per cent year-on-year.

Additionally, the sector of mining and quarrying also experienced significant expansion. The data showed that this sector recorded a sharp rise of 27.1 per cent compared with May 2024, underscoring robust activity and higher output levels in extractive industries.

However, not all sectors shared in the upward trend. A pronounced decline was observed in the electricity supply sector, which registered a decrease of 11.3 per cent year-on-year. Meanwhile, the water supply and materials recovery sector also faced a downturn, falling by 5.2 per cent compared to the same month in the previous year.

Despite these sectoral declines, the overall performance of Cyprus' industrial turnover index in both May and the first five months of 2025 remained firmly in positive territory, driven primarily by strong gains in manufacturing and mining activities.

By fLEXI tEAM