The economy of Cyprus shrank 1.3 percent on quarter in the first three months of 2020, matching a preliminary estimate and following an upwardly revised 1 percent expansion in the previous period. It was the sharpest contraction since Q2 2013, amid the coronavirus pandemic.
GDP Growth Rate in Cyprus averaged 0.61 percent from 1995 until 2020, reaching an all time high of 2.90 percent in the first quarter of 2016 and a record low of -2.30 percent in the second quarter of 2013. This page provides - Cyprus GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.
GDP Growth Rate in Cyprus is expected to be 7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Cyprus to stand at 0.60 in 12 months time. In the long-term, the Cyprus GDP Growth Rate is projected to trend around 0.60 percent in 2021 and 0.80 percent in 2022, according to our econometric models.