Industrial production accelerated by 9.3% for the period of January – July 2021, reflecting increased industrial activity compared with the respective period of 2020, which has been hampered by strict measures aiming to contain the spread of the Covid pandemic.
According to data released by the Statistical Service of Cyprus (Cystat), industrial activity for January – July 2021 was pushed mainly by manufacturing of electronic, optical products and electrical equipment which rose by an annual 40.0%, mining and quarrying with 26.8%, materials recovery with 22.0%, manufacturing of non-metallic mineral products which rose by an annual 19.1%.
Furthermore, in the period of January – July, manufacturing of basic metals and fabricated metal products rose by 18.1% year on year, water collection, treatment and supply rose by 17.3% and manufacturing of furniture, other manufacturing and repair/installation of machinery and equipment marked an annual increase of 15.4%.
The only economic activities where a decrease in production was observed compared to the period January – July 2020 were those relating to the manufacturing of paper, paper products and printing with -6.1% and the production of refined petroleum products, chemicals and chemical products and pharmaceutical products and preparations which fell by an annual 5.6%, Cystat said.
According to Cystat, the index of industrial production in July 2021 reached 152.6 units (base 2015=100), recording an increase of 5.6% compared to July 2020.
The manufacturing sector registered an increase of 1.4% compared to July 2020. Increases were also observed in the sectors of water supply and materials recovery which rose by 39.6% year on year, electricity supply by an annual 14.5%) and mining and quarrying rose by 10.8%, Cystat said.