The Cyprus economy expanded 3.4 percent year-on-year in the third quarter 2019, accelerating from an upwardly revised 3.2 percent advance in the previous period and above preliminary estimates of 3 percent. Growth was mainly driven by construction; information and communication; professional, scientific and technical activities; administrative and support service activities; and arts, entertainment and recreation. In contrast, a negative contribution came from financial and insurance activities. On a quarterly basis, the GDP advanced 0.4 percent, easing from an upwardly revised 1 percent expansion in Q2 and lower than earlier estimates of 0.7 percent. It was the softest pace of expansion since Q3 2018.
GDP Annual Growth Rate in Cyprus averaged 2.53 percent from 1996 until 2019, reaching an all time high of 7 percent in the fourth quarter of 2016 and a record low of -7.50 percent in the second quarter of 2013. This page provides - Cyprus GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
GDP Annual Growth Rate in Cyprus is expected to be 2.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Cyprus to stand at 2.80 in 12 months time. In the long-term, the Cyprus GDP Annual Growth Rate is projected to trend around 3.20 percent in 2020, according to our econometric models.