Industrial production in Cyprus shrank 6.7 percent year-on-year in January of 2021, following a revised 1.8 percent gain in the previous month. It was the sharpest contraction since August of 2020, amid a second national lockdown since the onset of the pandemic. Production fell for manufacturing (-6.2 percent vs 2.6 percent in December); electricity supply (-9.3 percent vs -2.8 percent); and water supply & materials recovery (-4.5 percent vs 4.7 percent). Meantime, output expanded, although at a much slower pace, for mining & quarrying (1.4 percent vs 18.5 percent). source: Statistical Service of the Republic of Cyprus
Industrial Production in Cyprus averaged 0.13 percent from 2000 until 2021, reaching an all time high of 16.50 percent in April of 2002 and a record low of -35.70 percent in April of 2020. This page provides the latest reported value for - Cyprus Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Cyprus Industrial Production - data, historical chart, forecasts and calendar of releases - was last updated on April of 2021.
Industrial Production in Cyprus is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Cyprus to stand at 2.20 in 12 months time. In the long-term, the Cyprus Industrial Production is projected to trend around 2.20 percent in 2022 and 0.80 percent in 2023, according to our econometric models.