The Industrial Production Index in Cyprus reached 113.7 units in May 2025, based on 2021 as the reference year, reflecting an annual increase of 1.7 per cent compared to May 2024.

For the period between January and May 2025, the index rose by 3.4 per cent compared to the same period the previous year.

The manufacturing sector recorded a 1.0 per cent increase compared to May 2024, while significant growth was also seen in mining and quarrying, which rose by 19.3 per cent, and in water supply and materials recovery, which increased by 12.4 per cent.

By contrast, the electricity supply sector registered a negative change of 1.2 per cent.

Within the manufacturing sector, the most notable increases compared to May 2024 were recorded in the manufacturing of electronic and optical products and electrical equipment, which grew by 8.7 per cent, and rubber and plastic products, which rose by 8.0 per cent.

Wood and wood and cork products, excluding furniture, also expanded by 7.1 per cent.

The most significant declines were seen in the manufacturing of paper and paper products and printing, which dropped by 10.7 per cent, and in refined petroleum products, chemicals and chemical products, and pharmaceutical products and preparations, which decreased by 5.8 per cent.

Comparing the January to May 2025 period with the corresponding months of the previous year, the highest positive changes were observed in the manufacturing of electronic and optical products and electrical equipment, which increased by 13.5 per cent, and water collection, treatment and supply, which rose by 10.4 per cent.

The manufacturing of other non-metallic mineral products also climbed by 8.7 per cent.

Growth was also seen in mining and quarrying, which rose by 7.9 per cent, and in wood and products of wood and cork, except furniture, which increased by 7.2 per cent.

The only activities that recorded negative changes in production during the same period were the manufacturing of paper and paper products and printing, which dropped by 14.4 per cent, and textiles, wearing apparel and leather products, which fell by 2.3 per cent.

Refined petroleum products, chemicals and chemical products and pharmaceutical products and preparations also decreased by 1.4 per cent.

Machinery and equipment, motor vehicles and other transport equipment declined by 0.9 per cent.

The Industrial Production Index uses 2021 as its base year, meaning it reflects monthly changes in production relative to the average production levels of 2021.

In the base year, the average of the production indices for all twelve months is set at 100.0 units.

This means that a monthly production index reading of 103.4 units indicates that production for that specific month has increased by 3.4 per cent compared to the monthly average production of 2021.