Cyprus - Industry



Industries are numerous and small in scale, 95% of them employing fewer than 10 workers. Working owners make up a large part of the industrial labor force. Manufacturing, which accounts for about 10.6% of GDP, and employs 9.1% of the labor force, is dominated by small enterprises. The manufacturing sector of industrial production has declined in absolute value over 10% from its peak in 1992, reflecting declines in the traditional leaders, textiles and food processing. Textiles, the leading manufacturing industry since 1974, has declined in output value about 50% since a peak reached in 1988, whereas food processing (food, beverages and cigarettes) has declined about 15% from a peak reached in 1992. The manufacture of non-metallic mineral products has also declined, about 7% from peak levels in 1994–95. Growth has occurred among nontraditional manufactures in the areas of chemicals, petroleum, rubber and plastics, up over 25% in the decade. Other industrial sectors have increased strongly: mining and quarrying is up nearly 60% since 1990 and the production of electricity, gas, and water treatment, increased nearly 80%. According to CIA estimates, overall industrial production grew 2.2% in 1999 in the Greek Cypriot area, but was declined an estimated .3% in the Turkish area. The leading products are textiles, shoes, cement mosaic tiles and cigarettes. Major plants include modern flour mills, tire-treading factories, knitting mills, preprocessing facilities, and a petroleum refinery. Furniture and carts are also manufactured. Nine industrial estates have been established. In both the Greek and Turkish areas of Cyprus, industry accounts for about 20% of GDP and employs about 22% of the labor force.

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