Insider Business Cyprus industrial production value and employment increased in 2018

Cyprus industrial production value and employment increased in 2018

Cyprus industrial production value and employment in the sector increased in 2018 by 11.4% and 7% respectively on an annual basis, data released by the Cyprus Statistical Service on Monday show.

In particular, according to the results of the Survey on Industrial Production 2018, employment in the broad industrial sector increased in 2018 by 7.0% to 38.2 thousand compared to 35.7 thousand in 2017.

In manufacturing, CyStat says in a press release, employment reached 33.8 thousand, in mining and quarrying 0.5 thousand, in electricity supply 2.1 thousand and in water supply, sewerage and waste management 1.8 thousand persons.

“In the whole of the industrial sector, production value at current prices recorded an increase of 11.4% to €4,638.6 million in 2018 compared to €4,165.5 million in 2017,” it adds.

In manufacturing, production value increased by 10.4% to €3,393.1 million, in mining and quarrying by 2,0% to €78.8 million, in electricity supply by 17.9% to €828.5 million and in water supply, sewerage and waste management by 8.5% to €338.2 million.

“Value added at current prices rose by 7.8% in the total of industry and reached €1,676.4 million in 2018 compared to €1,554.8 million in 2017,” it says.

In manufacturing, value added increased by 11.3% to €1,226.5 million, in mining and quarrying by 36.7% to €25.9 million and in water supply, sewerage and waste management by 0.5% to €150.8 million.

On the contrary, value added dropped in electricity supply by 3.9% to €273.2 million.

(CNA)

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