Industrial production in Cyprus rose 3.8 percent year-on-year in September of 2018, following a downwardly revised 1.1 percent increase in the prior month. It is the fastest rise in industrial activity since June, as output continued to grow solidly for mining & quarrying (31.0 percent vs 48.0 percent in August). Also, production advanced for manufacturing (4.4 percent, after showing no growth in August) and rebounded for water supply (4.2 percent vs -1.8 percent). In contrast, output slowed for electricity supply (0.6 percent vs 2.0 percent). Considering the January to September period of 2018, industrial activity surged 5.1 percent compared to the same period of 2017. Industrial Production in Cyprus averaged 0.33 percent from 2000 until 2018, 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 3.30 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 5.30 in 12 months time. In the long-term, the Cyprus Industrial Production is projected to trend around 6.00 percent in 2020, according to our econometric models.