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Next Previous 3.4% increase in the Industrial Production Index HOME • INSIDER • CYPRUS • 3.4% increase in the Industrial Production Index
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The Industrial Production Index for the month of February 2022 reached 124.9 points (base 2015 = 100), recording an increase of 3.4% compared to February 2021. During the period January – February 2022, the index showed an increase 4.1% compared to the corresponding period of the previous year.
In the manufacturing sector there was an increase of 0.8% compared to February 2021. An increase was also recorded in the sectors of water supply and materials recovery (+ 22.6%) and electricity supply (+ 12.6%). The mining and quarrying sector decreased by 3.1% compared to February 2021.
In the manufacturing sector, the most significant positive changes compared to February 2021 were presented in the following economic activities: production of textiles, clothing and leather goods (+ 40.2%), manufacturing of electronic and optical products and electrical equipment (+6, 7%), manufacturing of rubber and plastics products (+ 2.9%), food, beverage and tobacco industry (+ 2.5%) and production of petroleum refining products, chemicals/products and pharmaceuticals and preparations (+ 2.4%). The only negative changes were observed in the activities of wood industry and manufacture of wood and cork products, except furniture (-10.6%), manufacture of other non-metallic mineral products (-4.4%) and production of basic metals and manufacture of metal products ( -1.6%).
Comparing the rates of change for the period January – February 2022 with the corresponding period of the previous year, the most significant increases are observed in the economic activities of water collection, treatment and supply (+49, 4%), production of textiles, clothing and leather goods (+ 47.9%), manufacturing of electronic and optical products and electrical equipment (+ 20.3%), electricity supply (+ 16.8%) and manufacturing of furniture and repair/installation of machinery and equipment (+ 8.2%). The activities in which the most significant reductions in production are observed compared to the period January – February 2021 were those of manufacturing non-metallic mineral products (-13.2%), wood industry and manufacturing of wood and cork products, except furniture (-12 , 1%), recovery of materials (-11.9%), mines and quarries (-6.9%) and production of basic metals and manufacture of metal products (-6.1%).