Industrial production in Cyprus decreased 5.4 percent year-on-year in July of 2020, following a downwardly revised 9 percent fall in the previous month. It was the fifth straight month of decline in the industrial activity, but the smallest decrease in the current sequence. Output fell at a softer pace for both manufacturing (-4.1 percent vs -5.1 percent) and electricity supply (-6.5 percent vs -22.4 percent) while it declined faster for water supply & materials recovery (-25.9 percent vs -23 percent). Meantime, mining & quarrying production dropped (-1.1 percent vs 14.9 percent).
Industrial Production in Cyprus averaged 0.28 percent from 2000 until 2020, reaching an all time high of 16.50 percent in April of 2002 and a record low of -35.80 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 October of 2020.
Industrial Production in Cyprus is expected to be -4.50 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 1.90 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.