Latest reading: Industrial output rose 1.9% in month-on-month seasonally adjusted terms in May, which was above April’s 1.3% increase. May’s...
Industrial Production in Cyprus
The Cypriot economy recorded an average industrial production growth rate of -0.5% in the decade to 2024. In 2024, industrial production growth was 2.3%. For more industry information, visit our dedicated page.
Cyprus Industry Chart
Note: This chart displays Industrial Production (annual variation in %) for Cyprus from 2019 to 2024.
Source: Macrobond.
Cyprus Industry Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Industrial Production (ann. var. %) | -7.3 | 6.4 | 3.2 | 1.7 | 2.3 |
Industrial output growth speeds up in April
Latest reading: Industrial output increased 4.9% year on year in calendar-adjusted terms in April, which was above March's 1.8% increase. The pickup was largely driven by faster growth in manufacturing production. In addition, electricity, gas, steam and air conditioning supply production gained steam. Meanwhile, the trend improved modestly, with the annual average growth of industrial production coming in at 2.7%, up from March's 2.6% reading. On a monthly basis, factory output increased 0.9% in seasonally adjusted terms in April, rebounding from March’s 1.3% fall.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Cypriot industry projections for the next ten years from a panel of 2 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Cypriot industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Cypriot industry projections.
Want to get access to the full dataset of Cypriot industry forecasts? Send an email to info@focus-economics.com.
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