Cyprus’ industrial production continues to climb, with the manufacturing sector showing notable gains. Compared to October 2023, the production of rubber and plastic products surged by 12.5%, while machinery, equipment, motor vehicles, and other transport equipment posted an impressive 9.1% growth. Other key contributors included non-metallic mineral products, up by 7.7%, and food, beverages, and tobacco products, which saw a 6.3% increase.
However, not all areas experienced growth. The manufacturing of paper, paper products, and printing took a significant hit, declining by 17.9%. Similarly, the production of textiles, apparel, and leather products dropped by 11.5%, highlighting challenges in these segments.
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These shifts reflect a dynamic industrial landscape, where some sectors thrive while others face mounting pressures. The latest data showcases the resilience and adaptability of key industries as they navigate a changing economic environment.