The Cyprus Industrial Turnover Index for August 2025 stood at 115.2 units, reflecting a 3.4% dip from the same month in 2024. The data, released by the Cyprus Statistical Service (Cystat), paints a nuanced picture of the country’s industrial performance over the past year.
Industrial Turnover Trend Overview
Between January and August 2025, the overall index exhibited a 4% rise compared to the corresponding period in 2024. This increase underscores a broader, albeit uneven, recovery in industrial activity despite the monthly setback observed in August.
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Sector-Specific Performance
The manufacturing sector, registering an index of 105.0 units, recorded a modest annual uptick of 1.2%. Noteworthy gains were observed in the manufacture of wood and cork products, which surged by 18.4%, and in machinery, motor vehicles, and other transport equipment, up by 13.3%. Additionally, the production of refined petroleum, chemical, and pharmaceutical products climbed by 6%, while basic metals and fabricated metal products marked a 3.5% increment.
Conversely, the textile, apparel and leather industries experienced a significant contraction of 18%, and electronic, optical products, and electrical equipment fell by 13.4%. Further declines were seen in paper, printing and related products (down 9.7%) as well as in furniture and other manufacturing (down 9.4%).
Market Segmentation Analysis
Examining market segments reveals divergent trends. Local market turnover dropped by 4.2%, while the export market enjoyed a modest 1.9% increase relative to August 2024. Sectoral performance was similarly mixed in non-manufacturing segments. For instance, mining and quarrying increased by 2.1% in August, with an impressive 11.8% surge over the January to August period. In contrast, electricity supply declined by 15.7% in August and 9.2% over the longer term, while water supply and materials recovery saw decreases of 1.3% and 1.4%, respectively.
Methodological Considerations
The index methodology, with 2021 as the base year, is designed to capture monthly fluctuations in turnover relative to that benchmark year. In essence, a monthly index figure of 112.4 indicates a 12.4% rise in turnover compared to the 2021 average. Data gathering methods include telephone and email surveys conducted five to ten days after the close of each period, with comprehensive data typically finalized within two months. The index fully covers larger enterprises with turnovers exceeding €2 million or those employing 20 or more persons, while smaller enterprises are sampled.
This detailed assessment of industrial activity by Cystat provides critical insights for stakeholders navigating Cyprus’s dynamic industrial landscape in 2025.
