Industrial Production in Cyprus decreased 8.80 percent in August of 2020 over the same month in the previous year.

Industrial Production in Cyprus averaged 0.24 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 -3.00 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 1.90 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.

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Cyprus Industrial Production

Actual Previous Highest Lowest Dates Unit Frequency
-8.80 -5.40 16.50 -35.80 2000 - 2020 percent Monthly

Calendar GMT Actual Previous Consensus TEForecast
2020-07-30 09:30 AM May -14.9% -35.6% -20%
2020-08-28 09:00 AM Jun -10.3% -16.5% -8.3%
2020-09-29 09:00 AM Jul -5.4% -9% -4.5%
2020-10-29 10:00 AM Aug -8.8% -5.4%
2020-11-27 10:00 AM Sep -4.5%
2020-12-30 10:00 AM Oct

News Stream
Cyprus Industrial Output Falls the Least in 5 Months
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).
Cyprus Industrial Output Falls for 4th Month
Industrial production in Cyprus declined 10.3 percent year-on-year in June 2020, after dropping an upwardly revised 16.5 percent in May, amid the coronavirus pandemic. Manufacturing output went down 6.8 percent, following a 17.3 percent fall in the previous month with food products decreasing 5.9 percent (vs -16.4 percent in May). Additionally, output went down for electricity supply (-22.4 percent vs -13.4 percent); and water supply and materials recovery (-21.6 percent vs -15.8 percent). On the other hand, mining and quarrying production rebounded (14.9 percent vs -13.6 percent).
Cyprus Industrial Production Contraction Eases in May
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).
Cyprus Industrial Output Drops at Record Pace
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.

Cyprus Industrial Production
In Cyprus, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 72 percent of total production. The biggest segments within Manufacturing are: food products (32 percent of total production); other non-metallic mineral products (7 percent); basic pharmaceutical products and pharmaceutical preparations (6 percent); and fabricated metal products, except machinery and equipment (5 percent). Mining and quarrying, and electricity, gas, steam and air conditioning supply account for 20 percent of total output; and water supply, sewerage, waste management and remediation activities account for the remaining 8 percent.