Industrial production in Cyprus was flat in June 2019, following a 0.2 percent gain in the previous month. Output dropped in manufacturing (-0.2 percent compared to 2.9 percent in May), namely food products, beverages & tobacco products (-4 percent compared to 3.5 percent), paper & printing (-0.6 percent compared to 2.3 percent), rubber & plastic (-8.2 percent compared to 2.4 percent), other non-metallic mineral products (-3.4 percent compared to 0.3 percent) and machinery & equipment, motor vehicles and other transport equipment (-3.0 percent compared to 5.7 percent); and mining & quarrying (-13.2 percent compared to 13.7 percent). On the other hand, production of electricity supply rebounded (1.9 percent compared to -8.8 percent) and water supply output fell less (-0.9 percent compared to -14 percent). Industrial Production in Cyprus averaged 0.53 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.
Industrial Production in Cyprus is expected to be 0.30 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 2.20 in 12 months time. In the long-term, the Cyprus Industrial Production is projected to trend around 0.80 percent in 2020, according to our econometric models.