Cyprus Industrial Output Remains Steady In May 2025 Amid Eurozone Momentum

Recent data from Eurostat reveals that Cyprus’ industrial production remained unchanged in May 2025 compared to the same period last year. This stagnation follows notable increases in previous months, including a 5.4% annual rise in April and a 2.2% jump in March.

Comparative Regional Trends

While Cyprus experienced a plateau, the overall euro area reported a 1.7% month‐on‐month gain in May, with the EU witnessing a 1.5% increase. Annual figures also pointed to a robust recovery, as output expanded by 3.7% in the euro area and 3.4% across the EU relative to May 2024.

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Sectoral Shifts And Economic Implications

The detailed breakdown within the euro area revealed a mixed economic environment. Intermediate goods fell by 1.7%, whereas energy production surged by 3.7% and capital goods grew by 2.7%. Additionally, durable consumer goods saw a decline of 1.9%, in contrast to an impressive 8.5% rise in non‐durable consumer goods. This pattern was similarly reflected in the broader EU data, albeit with marginally lower variations.

Historical Perspective And Outlook

Over the past six months, the performance trends in Cyprus have been notably variable. Following healthy growth in December 2024 (3.6%) and January 2025 (1.7%), industrial output encountered declines in February (-1.0%) and March (-1.4%), a modest rebound in April (0.9%), and ultimately stagnation in May. This scenario stands in contrast with countries like Ireland, which experienced considerable volatility driven by multinational production dynamics.

As regional industrial outputs continue to navigate these divergent trends, the steadiness in Cyprus’ production, despite recent fluctuations, underscores the complex economic realities facing mid-sized EU economies in an increasingly competitive and unpredictable market landscape.

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Foreign Firms Contribute €3.5 Billion To Cyprus Economy In 2023

by THEFUTURE.TEAM

November 12, 2025

Recent Eurostat data reveals that Cyprus remains an outlier within the European Union, where foreign-controlled companies contribute minimally to the nation’s employment figures and economic output. While these enterprises have a substantial impact in other member states, in Cyprus they account for only 10 percent of all jobs, a figure comparable only to Italy and marginally higher than Greece’s 8 percent.

Employment Impact

The report highlights that foreign-controlled companies in Cyprus employ 32,119 individuals out of a total workforce that, across the EU, reaches 24,145,727. In contrast, countries such as Luxembourg boast a 45 percent job share in foreign-controlled firms, with Slovakia and the Czech Republic following closely at 28 percent.

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Economic Output Analysis

In terms of economic contribution, these enterprises generated a total value added of €3.5 billion in Cyprus, a small fraction compared to the overall EU total of €2.39 trillion. Notably, Ireland leads with 71 percent of its value added stemming from foreign-controlled firms, followed by Luxembourg at 61 percent and Slovakia at 50 percent. On the lower end, France, Italy, Greece, and Germany exhibit values below 20 percent.

Domestic Versus Foreign Ownership

The data underscores Cyprus’s heavy reliance on domestically controlled enterprises for both employment and economic output. However, it is important to note that certain businesses might be owned by foreign nationals who have established companies under Cypriot jurisdiction. As a result, these firms are classified as domestically controlled despite having foreign ownership or management components.

Conclusion

This analysis emphasizes the unique role that foreign-controlled enterprises play within the Cypriot economy. While their overall impact is limited compared to some EU counterparts, the presence of these companies continues to contribute significantly to the island’s economic landscape.

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