Cyprus Industrial Production Falls 4.9% In November Amid Sectoral Shifts

by THEFUTURE.TEAM

January 31, 2025

Industrial production in Cyprus declined by 4.9% in November 2024, with the Industrial Production Index dropping to 102.7 units (base 2021=100), according to data released by the Cyprus Statistical Service on Thursday.

A major contributing factor to the decline was a 44.2% drop in the manufacturing of non-metallic mineral products, largely impacted by a strike in the ready-mix concrete sector that lasted from early November to early December.

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Manufacturing And Mining Suffer, Utilities Show Growth

The manufacturing sector recorded a 6.1% year-on-year decline in November, while mining and quarrying saw an even sharper contraction of 23.6%. Conversely, some industries posted gains, with water supply and materials recovery increasing by 11.4%, and electricity supply rising slightly by 0.7%.

Within manufacturing, the strongest growth came from machinery and equipment production, including motor vehicles and transport equipment (up 13.7%), rubber and plastic products (up 7.5%), and electronic and optical products (up 6.9%).

However, significant downturns were observed in non-metallic mineral products (down 44.2%), paper products and printing (down 18%), and furniture manufacturing and machinery repair/installation (down 14.4%).

Year-to-Date Performance Shows Overall Growth

Despite November’s decline, industrial production for the period January–November 2024 remained positive, registering a 2.8% increase compared to the same period in 2023.

The most notable year-to-date growth was recorded in water collection, treatment, and supply (up 22.8%), electronic and optical products manufacturing (up 12.2%), and machinery and transport equipment production (up 9.9%). Mining and quarrying, which showed a steep drop in November, still recorded an 8% increase over the 11 months.

On the downside, paper products and printing (down 11.7%), non-metallic mineral products (down 4.9%), and textiles, apparel, and leather goods manufacturing (down 4.5%) were among the hardest-hit industries.

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Central Bank Of Cyprus Balance Sheet Reflects Strong Eurosystem Position

by THEFUTURE.TEAM

February 17, 2026

Overview Of Financial Stability

The Central Bank of Cyprus (CBC) has released its latest balance sheet, reaffirming its steadfast role within the Eurosystem. The balance sheet, featuring total assets and liabilities of €29.545 billion, underscores the institution’s stable financial posture at the close of January 2026.

Asset Allocation And Strategic Holdings

Governor Christodoulos Patsalides issued the balance sheet, which details the CBC’s asset composition under the Eurosystem framework. Notably, the bank’s gold and gold receivables amounted to €1.635 billion, providing a significant hedge and stability to its balance sheet. Additional asset categories include claims on non-euro area residents denominated in foreign currency at €1.099 billion, while claims on euro area residents in both foreign and domestic currency add further depth to its portfolio.

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The most substantial asset category, intra-Eurosystem claims, reached €19.438 billion, an indication of the CBC’s deep integration with its European counterparts. Furthermore, euro-denominated securities held by euro area residents contributed €6.587 billion. Despite a marked emphasis on these areas, lending to euro area credit institutions in monetary policy operations recorded no activity during the period.

Liability Structure And Monetary Policy Implications

On the liabilities side, banknotes in circulation contributed €3.218 billion. Liabilities to euro area credit institutions associated with monetary policy operations were notably the largest single category, totaling €17.636 billion. Supplementary liabilities included those to other euro area residents, which aggregated to €4.989 billion, with government liabilities playing a predominant role at €4.754 billion.

Other liability items, such as claims related to special drawing rights allocated by the International Monetary Fund at €494.193 million, and provisions of €596.571 million, further articulate the CBC’s exposure. Revaluation accounts stood at €1.643 billion, and overall capital and reserves were confirmed at €333.822 million, completing the picture of a well-capitalized institution.

Conclusive Insights And Strategic Alignment

The detailed breakdown illustrates the CBC’s sizeable intra-Eurosystem exposures, reinforcing its central role within Europe’s monetary landscape. With an asset-liability balance maintained at €29.545 billion, the CBC’s financial position remains robust, indicating a commitment to structural stability and strategic risk management.

This fiscal disclosure not only provides transparency into the CBC’s operations but also serves as a benchmark for comparative analysis among other central banks within the Eurosystem, highlighting the intricate balance between asset liquidity, regulatory oversight, and monetary policy imperatives.

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