Key Market Indicators
Cyprus is projected to see a significant decline in its tobacco production over the next few years. Forecasts indicate that by 2028, the island nation's output will drop to approximately 28 metric tons, down from 65 metric tons recorded in 2023. This represents a steep annual decrease of 14%. The downturn in Cypriot tobacco supply isn't a recent development. Historical data reveals that since 1966, the country's production has been steadily decreasing by nearly 9% each year. The ongoing decline underscores the challenges faced by the nation’s tobacco sector in maintaining its production levels.
