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Cyprus Industrial Turnover Rises 4.6% In April, Led By Manufacturing And Metal Products

Cyprus’ industrial turnover continued to grow in April 2026, with the overall index rising 4.6% year on year to 143.1 points, according to figures released on Friday by the Statistical Service of Cyprus (Cystat).

Growth also remained positive over the longer term, with industrial turnover increasing 3.4% during the first four months of the year compared with the same period in 2025.

Manufacturing Continues To Drive Growth

Using 2021 as the base year, the index measures monthly turnover across Cyprus’ industrial sectors. Manufacturing remained the main engine of growth, with its index climbing 5.1% year on year to 149.2 points in April. Over the January-to-April period, turnover in the sector increased 3.7%.

Among manufacturers, basic metals and fabricated metal products recorded the strongest annual growth, with turnover rising 11.9% in April and 10.3% over the first four months of the year. Other non-metallic mineral products also performed strongly, posting annual growth of 11.4% in April, while wood and cork products remained among the best-performing categories, with turnover up 10.3% during the month and 23% year to date.

Machinery, motor vehicles and other transport equipment also maintained solid momentum, recording growth of 9.7% in April and 4.9% over the January-to-April period. Refined petroleum products, chemicals and pharmaceuticals increased 8.2% in April, although cumulative growth since the beginning of the year stood at a more modest 0.5%.

Furniture, other manufacturing, and machinery repair and installation advanced 8.1% in April despite remaining 3.9% below last year’s level over the first four months. Food, beverages and tobacco products posted more moderate growth, with turnover up 0.8% in April and 3.4% year to date, while rubber and plastic products were broadly stable, edging up 0.3%.

Some Manufacturing Segments Weakened

Not every manufacturing category recorded gains. Paper products and printing declined 6.6% in April and were down 2.4% over the January-to-April period.

Textiles, clothing and leather products also slipped, falling 4.1% during the month, although turnover remained 3.2% above last year’s level on a year-to-date basis. Electronic and optical products, together with electrical equipment, posted the weakest performance, declining 2.2% in April and 13.4% during the first four months of 2026.

Mining And Utilities Deliver Mixed Results

Outside manufacturing, mining and quarrying recorded annual turnover growth of 5.6% in April and 1.9% over the first four months of the year.

Water supply and materials recovery expanded by 5.5% in April and 7.4% year to date, supported by a 17% increase in materials recovery. Water collection, treatment and supply, however, fell 3.1% during the month, though turnover remained 1.2% higher than a year earlier over the January-to-April period.

Electricity supply delivered more modest growth, with turnover increasing 1.3% in April and 0.5% over the first four months of the year.

Domestic Demand Remains Stronger Than Exports

Domestic demand continued to support industrial activity. The local market index rose 4.4% year on year in April and was up 4.2% over the first four months of the year, reaching 143.6 points.

Export turnover showed a different pattern. Although the export market index increased 6% year on year in April to 140.2 points, it remained 1% below the level recorded during the January-to-April period of 2025.

According to Cystat, the industrial turnover index covers mining and quarrying, manufacturing, electricity supply, water supply and materials recovery, but excludes sewerage, waste collection, treatment and disposal, and remediation activities.

Cyprus Promotes Ship Registry In Asia As Fleet Grows To 25-Year High

Cyprus is stepping up efforts to attract international shipowners, with Shipping Deputy Minister Marina Hadjimanolis holding high-level meetings in China and Japan as the country’s ship register reaches its strongest level in 25 years.

Running from October 14 to 29, the Asian mission focuses on expanding commercial ties, promoting the advantages of the Cyprus flag and strengthening cooperation with shipowners, shipbuilders and maritime authorities.

China Meetings Target Shipowners And Industry Leaders

In Shanghai, Hadjimanolis met Wang Qian, vice-director of the Shanghai Pudong New Area Commission of Commerce and Shipping Service Office, ahead of the North Bund International Shipping Forum on October 20–21. Organisers expect around 4,000 participants from more than 50 countries and regions, with discussions covering international shipping, maritime safety, financing, insurance, digitalisation and the transition to cleaner fuels.

The minister also met representatives of Dalian Trawind Shipping and Fortuna Shipbrokers Inc. to present the Cyprus registry’s advantages and explore registration opportunities for vessel owners. On October 20, she is scheduled to speak at the 10th Annual Capital Link International Shipping Forum in Pudong, joining a ministerial roundtable on international maritime leadership.

A visit to Zhoushan is also planned for the naming ceremony of Kypros Island, a new vessel for the Cyprus register owned by Safe Bulkers. Launched in June at the Tsuneishi shipyard on Xiushan Island, the 81,200-deadweight-tonne methanol dual-fuel bulk carrier is scheduled for delivery at the end of October. According to the Zhejiang Maritime Safety Administration, sea trials were due to take place between October 11 and 16.

Japan Engagements Strengthen Maritime Ties

Before travelling to China, Hadjimanolis met Japan’s Parliamentary Vice-Minister for Land, Infrastructure, Transport and Tourism, Kenta Aoshima, in Tokyo on October 16. Her programme also included meetings with senior representatives of Shoei Kisen Kaisha, Nihon Shipyard, NYK Line, ITOCHU Corporation and SSY Projects, focusing on cooperation with Japanese shipowners, shipbuilders and shipping operators.

At the 5th Annual Capital Link Japan Maritime Forum, held at the Tokyo American Club, Hadjimanolis discussed maritime leadership, competitiveness, policy and international cooperation with Capital Link founder and president Nicolas Bornozis. Other sessions examined Japan’s shipbuilding strategy, new-vessel financing and the development of ammonia-powered ships.

The Tokyo programme followed a Cyprus Ship Registry reception on October 15 for representatives of Japan’s maritime and business communities. Hadjimanolis outlined the country’s shipping services and regulatory framework, while Polys Hajioannou, chief executive of Safe Bulkers and president of the Cyprus Union of Shipowners, delivered the opening remarks.

Registry Reaches Highest Level In 25 Years

At the reception, Hadjimanolis said the Cyprus Ship Registry had grown by 27% since September 2023, reaching its highest level in a quarter of a century. She attributed the expansion to efforts to improve competitiveness, simplify administrative procedures and provide more responsive services to international shipowners.

Cyprus’s inclusion on the White Lists of the Paris and Tokyo Memoranda of Understanding was another point highlighted by the minister. These lists reflect the safety and inspection performance of ships flying a national flag.

Existing commercial links with Japan include Safe Bulkers’ announcement in May of four Japanese-built dry bulk vessels scheduled for delivery in 2029.

South Korea Next On The Maritime Agenda

Hadjimanolis’ mission will continue in South Korea, where she is expected to attend the 2026 World Maritime Day Parallel Event and Korea Maritime Week alongside International Maritime Organization Secretary-General Arsenio Dominguez and government representatives from several countries.

Her programme will also include discussions on implementing international maritime conventions and bilateral talks aimed at strengthening Cyprus’s shipping ties with South Korea.

The Asian outreach comes as maritime centres compete for shipowners amid geopolitical uncertainty, fleet renewal and pressure to reduce shipping emissions. For Cyprus, the strategy combines promotion of its registry with closer relationships across Asia’s shipbuilding and shipping sectors.

Uol
The Future Forbes Realty Global Properties
Aretilaw firm
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