FX.co ★ Cyprus Industrial Output Growth Accelerates

In January 2025, Cyprus experienced a year-on-year increase in industrial production by 4.3%, up from a revised 2.3% in December. This represents the most significant growth since July 2024. The surge was primarily driven by a notable rise in output within the mining and quarrying sectors, which expanded by 16.8% compared to just 2% in December 2024. Additionally, manufacturing production saw a recovery, climbing by 3.7% following a decline of 0.7% in the previous month. However, there was a deceleration in the growth of electricity supply, which posted a 3.7% increase compared to 15.8% previously. Similarly, water supply and materials recovery growth slowed to 9.6%, down from 19.8%.