**Title: Halloumi Sales Reach €364 Million, But Bakery Products Lead Cyprus' Industrial Goods Market**
Sales of locally produced industrial goods in Cyprus have seen a notable increase, rising by 3.7% to reach €4.77 billion, according to figures released by the statistical service, Cystat. This growth represents an increase of €170.2 million from the previous year's total of €4.60 billion. However, this year's growth rate has slowed compared to the 7.3% increase recorded in 2023, when sales rose from €4.29 billion.
Among the standout products contributing to this growth is halloumi cheese, which continues to be a significant player in the Cypriot economy. In the past year, local producers sold 46,100 tonnes of halloumi, generating €364.1 million in revenue. This marks an increase of approximately 10% in volume and 7.7% in value compared to the previous year, when 41,900 tonnes were sold for €338.1 million. The rise in halloumi sales added €26 million to the total revenue over the year, further solidifying its role in Cyprus’ export market, with exports reaching 42,427 tonnes valued at €324 million.
Despite halloumi's impressive figures, it was fresh bakery and pastry products that topped the sales charts, generating €373.8 million, up from €351.4 million the previous year. This represents a growth of around 6.4%. Pharmaceutical products closely followed, with sales reaching €363.3 million, a 3.4% increase from €351.4 million in 2023. Pharmaceuticals also play a vital role in Cyprus' export economy, accounting for 14.4% of manufactured exports with a total export value of €348 million.
The food and beverage sector also demonstrated positive trends, particularly in fresh fruit juice, which saw sales rise to 75,000 tonnes worth €54 million, an increase of 5.5% in volume and 10.2% in value. Beer sales also experienced growth, with 43.1 million litres sold for €57 million, compared to 42.3 million litres valued at €53.8 million in the prior year. Similarly, soft drink sales climbed to 14.7 million litres worth €23.5 million, up from 13.5 million litres valued at €20.5 million.
Bottled mineral water recorded one of the most significant increases, with sales reaching 216.9 million litres worth €46.7 million, compared to 190.7 million litres valued at €39.9 million. This represents a growth of nearly 14% in volume and 17% in value. Prepared meat products also saw a modest rise, with sales reaching €51.4 million, up from €50.4 million the previous year.
However, not all sectors experienced growth. Sales of pasteurized milk and fresh cream declined to 57.8 million litres worth €82.7 million, down from 60.7 million litres valued at €85.9 million. Wine sales fell more sharply, with 10.4 million litres sold for €35.7 million, a decrease of about 12.6% in volume and 9.6% in value. The chemical products sector also saw a decline, with sales slipping to €80.6 million from €84 million, a decrease of around 4%.
In the construction sector, sales of cement and clinker dropped significantly, falling by nearly €20 million to €138.3 million from €158.2 million, representing a decline of approximately 12.6%. Conversely, sales of ready-mixed concrete increased to €257.6 million from €247.7 million, reflecting a growth of about 4%.
Overall, the combined sales from bakery and pastry products, halloumi, and pharmaceuticals exceeded €1.1 billion, with all three categories reporting higher sales values than the previous year. Cystat's data encompasses commodities produced by industrial units in Cyprus, detailing sales in both quantity and value where applicable.
As Cyprus continues to navigate its economic landscape, the growth in industrial goods sales, particularly in key sectors like halloumi and bakery products, highlights the resilience and potential of the local economy.