Industry in Cyprus

Cyprus Industry | Economic News & Forecasts

Cyprus - Industry

Sequential data points to a continuation of robust economic activity in Q2 following a stellar Q1, which saw the economy expand at one of the fastest rates in a decade. Industrial production growth more than doubled Q1’s average pace in April on the back of soaring output of pharmaceutical and chemical products. Moreover, retail sales rose at a solid clip in the same month, underpinned by upbeat consumer confidence and an improving labor market—the unemployment rate dipped to a near seven-year low in April–May. On the external front, goods exports surged in April and May, contributing to a significant reduction of the trade deficit in January–May.

Cyprus - Industry Data

2013  2014  2015  2016  2017  
Industrial Production (annual variation in %)-13.4  -0.1  3.4  8.7  9.7  

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Cyprus Industry Chart

Cyprus Industry
Note: Annual variation of industrial production in %.
Source: National Statistical Service and FocusEconomics calculations.

Cyprus Facts

Exchange Rate1.130.65 %Aug 15
Stock Market73.8-0.44 %Aug 14

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