Industrial production in Cyprus increased 0.9 percent year-on-year in November 2019, easing from a 1.8 percent gain in the previous month. Manufacturing output growth slowed to 2.1 percent from 3.2 percent in October, namely food products, beverages & tobacco (1.1 percent vs 1.7 percent), chemicals (3.2 percent vs 13.7 percent) and basic metals & fabricated metal products (3.6 percent vs 7.3 percent). In addition, production shrank further in water supply and materials (-12.8 percent vs -10.5 percent) and electricity supply (-2.6 percent vs -0.8 percent). Meanwhile, mining & quarrying output rebounded (8.9 percent vs -2.4 percent). Considering the first eleven months of the year, industrial activity grew 3.2 percent compared to the corresponding period of the previous year.
Industrial Production in Cyprus averaged 0.58 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. 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.
Industrial Production in Cyprus is expected to be 2.50 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 1.70 in 12 months time. In the long-term, the Cyprus Industrial Production is projected to trend around 0.80 percent in 2021, according to our econometric models.