Cyprus industrial turnover index falls in May

Cyprus’ Industrial Turnover Index reached 133.8 points in May 2024, with 2021 acting as the base year, set at 100 points.

According to a report released this week by the Cyprus Statistical Service (Cystat), this reflects a decrease of 3.3 per cent compared to May 2023.

In the manufacturing sector, the index stood at 132.9 points in May 2024, marking a drop of 2.4 per cent compared to the same month in the previous year.

Moreover, declines were also observed in the sectors of electricity supply, which dropped by 9.9 per cent, and mining and quarrying, which fell by 2.9 per cent.

Conversely, the water supply and material recovery sector experienced an increase of 9.6 per cent.

Finally, for the period from January to May 2024, the index recorded an overall increase of 1.8 per cent compared to the corresponding period in the previous year.