News Local Industrial production was up by 11.2% in 2017

Industrial production was up by 11.2% in 2017

Industrial production followed an upward trend and increased by 11.2% in 2017, according to provisional estimates released by the Cyprus Statistical Service on Tuesday.

On the basis of provisional estimates of the Statistical Service, employment in the broad industrial sector in 2017 increased by 4.5% to 35 thousand compared to 33.5 thousand in 2016.

In particular according to the provisional estimate, in manufacturing employment reached 30.7 thousand, in mining and quarrying 0.5 thousand, in electricity supply 2.1 thousand and in water supply, sewerage and waste management 1.7 thousand persons.

Production value for the entire industrial sector was up by 11.2% to €4,105.2 million in 2017 compared to €3,691.7 million in 2016.

In manufacturing production value increased by 8.6% to €2,983.1 million, in mining and quarrying by 89.4% to €94.3 million, in electricity supply by 17.8% to €720.5 million and in water supply, sewerage and waste management by 8.0% to €307.3 million, the provisional estimates show.

According to the Statistical Service value added at current prices rose by 10.4% in the total of industry and reached €1,598.5 million in 2017 compared to €1,448.3 million in 2016.

In manufacturing value added increased by 7.8%, in mining and quarrying by 91.7%, in electricity supply by 15.8% and in water supply, sewerage and waste management by 5.8%.

(Cyprus News Agency)

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