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Industrial production at 11 year high in November 2021

28/01/2022 16:20

Industrial production reached last November the highest point in 11 years for the month, according to data published by the Statistical Service of Cyprus on Friday.

In particular, the industrial production index for November 2021 reached 132.6 units (base 2015=100), recording an increase of 4.4% compared to November 2020. This is the highest point for Cyprus industrial production since November 2010.

The industrial production index for the period January – November 2021, the index recorded an increase of 7.8% compared to the corresponding period of the previous year.

According to the Statistical Service, the manufacturing sector registered an increase of 5.1% compared to November 2020.
Increases were also observed in the sectors of mining and quarrying (8.3%) and water supply and materials recovery (8.2%). A negative change was observed in the sector of electricity supply (0.1%).

Moreover, in the manufacturing sector, the most significant positive changes compared to November 2020 were observed in the manufacturing of electronic, optical products and electrical equipment (47.6%), furniture, other manufacturing and repair/installation of machinery and equipment (31.0%), rubber and plastic products (12.8%) and food products, beverages and tobacco products (7.2%).

On the other hand, according to the data provided by the Statistical Service, the most significant negative changes were observed in the economic activities of manufacturing of textiles, wearing apparel and leather products (10.6%), other non-metallic mineral products (8.2%), refined petroleum products, chemicals and chemical products and pharmaceutical products and preparations (7.7%) and basic metals and fabricated metal products (2.3%).