The Cyprus Statistical Service (CyStat) on Tuesday reported significant growth in the Industrial Production Index for Cyprus, highlighting key increases in employment and production value across various industrial sectors in 2022.
Starting with employment, the total number of individuals working in the broad industrial sector rose by 3 per cent to 42,100 in 2022, up from 40,900 in the previous year.
This growth is distributed across various sub-sectors, with manufacturing employment increasing to 37,100, while both mining quarrying and electricity supply maintained a steady workforce of 600 and 2,200, respectively.
Similarly, water supply, sewerage, and waste management sectors each saw a rise to 2,200 persons employed.
The production value at current prices within the entire industrial sector recorded a robust increase of 21.2 per cent, reaching €6.58 billion in 2022, compared to €5.43 billion in 2021.
A breakdown shows that manufacturing led with a 12.7 per cent increase to €4.50 billion. The electricity supply sub-sector saw a notable 52.1 per cent rise to €1.43 billion.
In water supply, sewerage, and waste management, the production value increased by 16.9 per cent to €477.5 million, and the mining and quarrying sub-sector more than doubled its output by 110.8 per cent to €157.2 million.
In terms of value-added—a measure of the sector’s contribution to the economy—the total industrial value added at current prices increased by 7.2 per cent to €2.01 billion in 2022 from €1.88 billion in 2021.
Manufacturing’s value added increased by 3.7 per cent to €1.47 billion; electricity supply by 25.4 per cent to €303 million; water supply, sewerage, and waste management by 4.6 per cent to €199 million; and mining and quarrying saw the highest percentage increase of 43.8 per cent, reaching €44.5 million.
