A small increase in exports in April, due to overseas sales of halloumi cheese and pharmaceuticals, helped narrow the trade deficit in the first four months of the year, with January-April imports down a significant 18% and exports reduced at a smaller 8% rate, according to the Cyprus statistical service Cystat. Total imports of goods … Read more
Cyprus’ Producer Price Index in industry recorded a 3.8% decrease in April 2024 compared to the same month in 2023, primarily due to reductions in the electricity supply sector.
Cyprus’ general government recorded an increased surplus of €665.2 million during the first four months of 2024, attributed to a significant increase in government revenues by 17.3 per cent, outpacing expenditure growth.
The Industrial Production Index in Cyprus increased by 3.4% in March 2024 compared to March 2023. The manufacturing sector experienced a rise of 2.7%, with the water supply and materials recovery sector showing a significant surge of 23.3%. The manufacture of furniture and repair/installation of machinery and equipment rose by 11.9%. Conversely, the manufacture of paper and paper products and printing decreased by 8.9%.
The unemployment rate in Cyprus decreased to 6 per cent in the first quarter of 2024, with a total workforce of 490,232 individuals.
The harmonized inflation rate in Cyprus increased by 2.1 per cent in April 2024 compared to the same period the previous year.