The Index of Industrial Output Prices for April 2026 reveals a decline in Cyprus, with a focus on the challenges faced by the electricity sector. The index reached 121.7 units, reflecting an annual decrease of 0.2 per cent compared to the same month last year, according to the state statistical service, Cystat.
- With the index tracking monthly price shifts against average prices from the base year, industry stakeholders remain vigilant for changes that could signal broader economic shifts in Cyprus.
Despite this annual drop, the index shows a modest recovery with a 0.3 per cent increase from March 2026. Over the period from January to April 2026, the index remained unchanged when compared to the corresponding period in 2025.
Industrial output: Electricity Sector Drives Down Prices
In April 2026, most sectors experienced growth. Water supply and materials recovery led the monthly increases, surging by 1.9 per cent. The electricity supply sector followed with a 0.6 per cent rise, while manufacturing prices increased by 0.2 per cent. Mining and quarrying also saw a slight uptick of 0.1 per cent.
However, the annual decline in industrial output prices can be attributed to the electricity supply sector, which faced a significant decrease of 6.8 per cent compared to April 2025. This sector’s struggles have had a pronounced impact on the overall industrial price index.
Manufacturing Shows Mixed Signals
Within the manufacturing industry, growth was noted in various sub-sectors. The manufacture of furniture, other manufacturing, and the repair and installation of machinery and equipment recorded the highest annual increase at 5.7 per cent. Electronic and optical products, along with electrical equipment, also performed well with a 4.9 per cent rise.
Other notable increases included a 2.7 per cent rise in wood products and a 1.5 per cent increase in machinery and equipment. However, not all areas of manufacturing fared well; the production of paper and paper products saw a slight decline of 0.2 per cent, while the food, beverages, and tobacco sectors remained unchanged.
Local vs Export Markets
The local market index stood at 123.1 units in April, marking a 0.3 per cent increase from March but a year-on-year decrease of 0.7 per cent. In contrast, the export market index reached 114.6 units, showing a monthly increase of 0.6 per cent and an annual rise of 2.9 per cent. This divergence highlights the differing trends in local and export markets amidst a challenging economic landscape.
For the four-month period from January to April 2026, the local index fell by 0.3 per cent, while the export index experienced a boost of 1.7 per cent, indicating stronger demand for Cypriot goods abroad.
Future Outlook
Cystat has indicated that data for March and April 2026 regarding electricity supply, as well as water supply and materials recovery, are preliminary. The industrial output prices index, which uses 2021 as its base year, will continue to be monitored closely as economic conditions evolve.
With the index tracking monthly price shifts against average prices from the base year, industry stakeholders remain vigilant for changes that could signal broader economic shifts in Cyprus.
