Cyprus' gross domestic product grew 1.4 percent on quarter in the last three months of 2020, easing from a record 8.9 percent expansion in Q3, in line with preliminary estimates. source: Statistical Service of the Republic of Cyprus

GDP Growth Rate in Cyprus averaged 0.59 percent from 1995 until 2020, reaching an all time high of 8.90 percent in the third quarter of 2020 and a record low of -13.10 percent in the second quarter of 2020. 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 May of 2021.

GDP Growth Rate in Cyprus is expected to be 0.20 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 0.50 percent in 2022 and 0.60 percent in 2023, according to our econometric models.

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Cyprus GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.40 8.90 8.90 -13.10 1995 - 2020 percent Quarterly
SA, WDA


Calendar GMT Actual Previous Consensus TEForecast
2020-11-13 10:00 AM QoQ Flash Q3 9.4% -13.1% 7%
2020-11-30 11:00 AM QoQ Final Q3 9.4% -13.1% 9.4%
2021-02-16 10:00 AM QoQ Flash Q4 1.4% 8.9% 0.3%
2021-03-02 10:00 AM QoQ Final Q4 1.4% 8.9% 1.4%
2021-05-18 09:00 AM QoQ Flash Q1 1.4% 0.2%
2021-05-31 09:00 AM QoQ Final Q1 1.4%
2021-08-13 09:00 AM QoQ Flash Q2 0.9%
2021-08-31 09:00 AM QoQ Final Q2
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.

Cyprus GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.40 8.90 8.90 -13.10 percent [+]
GDP Annual Growth Rate -4.50 -4.30 9.10 -12.40 percent [+]
GDP 24.56 24.96 27.84 0.49 USD Billion [+]
GDP Constant Prices 5218.90 5166.80 5484.20 2825.30 EUR Million [+]
Gross National Product 21000.31 22286.88 22286.88 7678.31 EUR Million [+]
Gross Fixed Capital Formation 1234.30 1046.90 1773.30 -6064.00 EUR Million [+]
GDP per capita 32093.00 31506.90 32725.60 7360.00 USD [+]
GDP per capita PPP 39544.70 38822.50 40324.20 24724.00 USD [+]
GDP From Agriculture 87.40 87.60 153.80 79.20 EUR Million [+]
GDP From Construction 353.00 360.10 494.70 181.20 EUR Million [+]
GDP From Manufacturing 275.85 277.54 291.07 167.48 EUR Million [+]
GDP From Mining 332.40 327.10 374.00 248.60 EUR Million [+]
GDP From Public Administration 980.26 981.78 981.78 578.22 EUR Million [+]
GDP From Services 1055.10 1000.10 1203.70 573.80 EUR Million [+]


Cyprus GDP Growth Rate
Services including tourism, financial services, and real estate are considered as the backbone of the Cyprus economy, accounting for nearly 80 percent of GDP. On the expenditure side, household consumption is the main component of GDP and accounts for 70 percent of its total use, followed by government expenditure (16 percent) and gross fixed capital formation (11 percent). Exports of goods and services account for 55 percent of GDP while imports account for 53 percent, adding 2 percent of total GDP.