Sales of industrial products manufactured in Cyprus saw a 7.3% increase in 2023, with total revenue climbing to €4.6 billion from €4.29 billion the previous year. According to data from the Statistical Service, key sectors like pharmaceuticals, halloumi, and bakery products were major contributors to the growth.
Food and Beverage Sector Performance
The food and beverage industry was a significant driver of the increase, with several key products posting strong sales figures.
Fresh bakery and confectionery products were a leading category, generating €351.4 million in revenue. The island’s signature export, halloumi cheese, also performed exceptionally well, with sales valued at €338.1 million from 41.9 thousand tons produced.
Other notable food product sales included:
- Pasteurized milk and cream: €85.9 million
- Processed meat products: €50.4 million
- Fresh fruit juices: €49.0 million
In the beverage sector, beer led sales with €53.8 million, followed by bottled water (€39.9 million) and wine (€39.5 million).
Key Industrial and Chemical Products
Beyond the food sector, several other industries contributed significantly to the overall growth.
The pharmaceutical sector was a standout performer, matching the bakery sector with sales of €351.4 million.
The construction materials industry also showed robust activity, with sales of ready-mix concrete reaching €247.7 million and cement and clinker generating €158.2 million. Sales of other chemical products amounted to €84.0 million.
Source: Stock Watch