Key Market Indicators
**Cypriot Lighting Sales See Decline to €3.1 Million in 2020** The Cypriot lighting market experienced a downturn in 2020, with sales totaling €3.1 million. This represents a significant drop from the €3.9 million recorded in 2019. **Substantial Growth in Cypriot Lighting Exports Expected** Cypriot lighting exports are projected to reach approximately $9.1 million by 2028, up from about $7.3 million in 2023. This growth corresponds to a compound annual growth rate (CAGR) of 3.4%. Historical data reveals that since 1994, the country's lighting supply has increased by an average of 4.2% annually. **Rising Demand for Cypriot Lighting Imports** On the import side, Cypriot lighting products are anticipated to hit $20.8 million by 2028, rising from $17.7 million in 2023. This increase reflects a 2.6% average annual growth rate. Since 1994, the demand for lighting imports in Cyprus has grown at an average rate of 3.4% each year. These figures highlight notable trends in the Cypriot lighting sector, underscoring both the potential for export growth and the increasing domestic demand for imported lighting products.
