Cyprus’ Industrial Turnover Index saw a significant rise of 5.6 per cent in March 2026, reaching 144.7 units, according to the Cyprus Statistical Service (Cystat). This growth was primarily fuelled by a robust performance in the manufacturing sector.
Industrial turnover: Manufacturing Sector Leads the Charge
The manufacturing industry was the standout performer in March, with its index climbing to 148.7 units, reflecting an annual growth of 8.2 per cent. For the first quarter of 2026, manufacturing turnover increased by 3 per cent compared to the same period in 2025.
Wood Products and Other Key Industries Shine
Within manufacturing, the most impressive growth was noted in the production of wood and cork products, excluding furniture. This sector experienced a remarkable 23.1 per cent increase in March and 21.5 per cent growth over the first three months of the year. Other sectors such as rubber and plastic products also saw strong performance with a 17.2 per cent rise in March and a 6.4 per cent increase in turnover for the quarter.
Food and Beverage Sector Contributes to Growth
The food products, beverages, and tobacco sectors bolstered the manufacturing index, with turnover rising by 10.3 per cent in March and by 4.2 per cent in the first quarter. Additionally, machinery and equipment, motor vehicles, and other transport equipment recorded increases of 9.3 per cent in March and 6.5 per cent for the year-to-date.
Mixed Results Across Manufacturing Categories
While many sectors thrived, not all reported positive outcomes. The manufacture of refined petroleum products, chemicals, and pharmaceuticals saw a decline of 3.7 per cent in March and 2.7 per cent for the first quarter. The electronic and optical products sector faced the most significant drop, with a 10.2 per cent decline in March and a staggering 16.6 per cent fall over the three-month period.
Mining and Quarrying Also Show Positive Trends
Outside of manufacturing, the mining and quarrying sector achieved an annual increase of 11 per cent, reaching 182.3 units in March, although its growth for the first quarter was more modest at 0.7 per cent. The water supply and materials recovery sector experienced strong gains, with the index rising to 141.1 units, marking a 16 per cent increase in March and a 9.4 per cent rise for the quarter.
Electricity Supply Experiences a Decline
In contrast, the electricity supply sector recorded a significant decline of 10.3 per cent in March, with its index at 122.7 units. For the first quarter, the sector saw a slight fall of 0.1 per cent.
Local and Export Markets Reflect Growth Trends
The local market index increased by 5.9 per cent in March, reaching 145.0 units, and rose by 3.9 per cent in the January to March period. The export market index stood at 142.9 units, reflecting a 4 per cent annual increase in March; however, it was down 3.7 per cent for the first quarter.
Cystat noted that the industrial turnover index encompasses mining and quarrying, manufacturing, electricity supply, water supply, and materials recovery, excluding certain waste management activities.
