Nicosia, Cyprus. Cyprus’ industrial sector recorded a modest increase in employment and higher value added in 2024, according to figures released by the Cyprus Statistical Service. Manufacturing remained the main driver of growth within the sector.
Employment across the sector
Employment in the broad industrial sector increased by 0.5 per cent to 42,800 people in 2024, up from 42,600 in 2023.
Manufacturing employed 38,000 people, while mining and quarrying accounted for 600 employees. Electricity supply employed 2,400 people, and water supply, sewerage and waste management employed 1,900 people.
Industrial production value
The total value of industrial production at current prices reached €6.95 billion in 2024, representing a 0.1 per cent increase from €6.94 billion in 2023.
Manufacturing recorded the strongest contribution to overall production, with its production value rising by 3.6 per cent to €5.02 billion.
By contrast, production value in the electricity supply sector declined by 3.8 per cent to €1.38 billion. Production value in water supply, sewerage and waste management fell by 15.5 per cent to €407.6 million.
Mining and quarrying recorded the steepest decline, with production value decreasing by 20.2 per cent to €135.3 million.
Value added
Value added across the entire industrial sector increased by 3.3 per cent, rising from €2.24 billion in 2023 to €2.32 billion in 2024.
Manufacturing again recorded the strongest performance, with value added increasing by 6.8 per cent to €1.75 billion.
