Industrial production in Cyprus increased 4.1 percent year-on-year in July 2019, rebounding from a downwardly revised 0.5 percent fall in the previous month. Output rose in manufacturing (6.1 percent compared to -0.7 percent in June), in particular food products, beverages & tobacco products (4.5 percent compared to -4.7 percent), paper & printing (1 percent compared to -4.2 percent), other non-metallic mineral products (7.7 percent compared to -2.1 percent), and basic metals & fabricated metal products (9.6 percent compared to -4.5 percent); and water supply & materials recovery (1.4 percent compared to -3.1 percent). Also, production of mining & quarrying fell 6.4 percent, less than a 13.2 percent decline in June. Meanwhile, electricity supply output went down 0.5 percent, after increasing 1.9 percent in the prior month. Industrial Production in Cyprus averaged 0.55 percent from 2000 until 2019, reaching an all time high of 16.50 percent in April of 2002 and a record low of -18.70 percent in December of 2012.
Industrial Production in Cyprus is expected to be 0.30 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 0.80 percent in 2020, according to our econometric models.