Industrial Production in Cyprus
Cyprus recorded average industrial production growth of 2.1% in the decade to 2022, above the 1.1% average for the Euro Area. In 2022, industrial production growth was 1.2%. 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 2018.
Source: Macrobond.
Cyprus Industry Data
2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|
Industrial Production (ann. var. %) | 4.4 | -7.3 | 6.4 | 3.2 | 1.4 |
Industrial output growth gains steam in May
Industrial output expanded 5.0% year on year in calendar-adjusted terms in May, which was above April's 2.9% increase. May's rise was partly driven by faster growth in manufacturing output. In addition, electricity, gas, steam and air conditioning supply production picked up pace. Meanwhile, annual average industrial production growth rose to 3.0% in May (April: +2.7%), which marked an over one-year high. On a monthly basis, industrial output rose 1.9% in seasonally adjusted terms in May, rebounding from April’s 1.7% fall.
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 1 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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