The Industrial Production Index in Cyprus fell to 102.7 units (base year 2021=100) in November 2024, marking a 4.9% decline compared to November 2023, according to data released by the Cyprus Statistical Service on Thursday.

The manufacturing sector experienced a 6.1% drop compared to November 2023, while mining and quarrying also recorded a significant decline of 23.6%.

One of the most substantial decreases was in the manufacturing of other non-metallic mineral products, which fell by 44.2%. This decline coincided with a strike in the ready-mix concrete sector, which lasted from early November until the beginning of the following month.

Despite the overall decline, some industries saw positive growth:

• Water supply and materials recovery increased by 11.4%.

• Electricity supply rose by 0.7%.

Within the manufacturing sector, the most notable positive changes compared to November 2023 were recorded in:

• Manufacturing of machinery and equipment, motor vehicles, and other transport equipment (+13.7%).

• Rubber and plastic products (+7.5%).

• Electronic and optical products and electrical equipment (+6.9%).

Conversely, the most significant negative changes were observed in:

• Manufacturing of other non-metallic mineral products (-44.2%).

• Paper and paper products and printing (-18%).

• Furniture manufacturing and repair/installation of machinery and equipment (-14.4%).