Industrial production in Cyprus tumbled 35.4 percent year-on-year in April of 2020, following a downwardly revised 11.1 percent fall in the previous month. It was the sharpest fall in industrial activity since series began in January of 2000, as output declined faster for manufacturing (-37.8 percent vs -11 percent in March); electricity supply (-20.6 percent vs -8 percent); water supply & materials recovery (-34.1 percent vs -26.9 percent) and mining & quarrying (-71.1 percent vs -16.9 percent). On a monthly basis, industrial production dropped 28.8 percent, after decreasing 12.5 percent in March.
Industrial Production in Cyprus averaged 0.40 percent from 2000 until 2020, reaching an all time high of 16.50 percent in April of 2002 and a record low of -35.40 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 July of 2020.
Industrial Production in Cyprus is expected to be -6.00 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 1.70 in 12 months time. In the long-term, the Cyprus Industrial Production is projected to trend around 2.20 percent in 2021 and 0.80 percent in 2022, according to our econometric models.