Industrial production in Cyprus dropped 14.9 percent from a year earlier in May 2020, following a record 35.6 percent plunge in the previous month, as the lockdown measures imposed to curb the coronavirus pandemic were gradually lifted. Manufacturing output fell 15.2 percent, after a 38.1 percent tumble in April with food products declining 13.6 percent (vs -25.2 percent in April). In addition, output declined for electiciry supply (-13.4 percent vs -20.6 percent), water supply and materials recovery (-15.8 percent vs -34.4 percent), and mining and quarrying (-13.6 percent vs -71.1 percent).
Industrial Production in Cyprus averaged 0.34 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 August 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.