The gross domestic product of Cyprus expanded 3.4 percent year-on-year in the first quarter of 2019, easing from a 3.8 percent advance in the previous three-month period and slightly below preliminary estimates of 3.5 percent. It was the lowest pace of expansion since the last quarter of 2015. Positive contributions to growth came from construction; information and communication; professional, scientific and technical activities; administrative and support service activities and arts, entertainment and recreation. On the other hand, financial and insurance activities shrank. On a quarterly basis, the economy advanced 0.7 percent, following a downwardly revised 0.9 percent growth in Q4. GDP Annual Growth Rate in Cyprus averaged 2.42 percent from 1996 until 2019, reaching an all time high of 6.60 percent in the second quarter of 2000 and a record low of -6.70 percent in the first quarter of 2013.

GDP Annual Growth Rate in Cyprus is expected to be 4.20 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 3.50 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.

Cyprus GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-14 10:00 AM GDP Growth Rate YoY Flash Q4 3.9% 3.7% 4%
2019-03-12 10:00 AM GDP Growth Rate YoY Final Q4 3.8% 3.8% 3.9%
2019-05-15 09:00 AM GDP Growth Rate YoY Flash Q1 3.5% 3.8% 3.9%
2019-06-07 09:30 AM GDP Growth Rate YoY Final Q1 3.4% 3.8% 3.5%
2019-08-14 09:00 AM GDP Growth Rate YoY Flash Q2 4.2%
2019-09-06 09:00 AM GDP Growth Rate YoY Final Q2 4.2%
2019-11-14 10:00 AM GDP Growth Rate YoY Flash Q3 3.7%


Cyprus GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.70 0.90 2.40 -2.00 percent [+]
GDP Annual Growth Rate 3.40 3.80 6.60 -6.70 percent [+]
GDP 24.47 22.14 27.84 0.49 USD Billion [+]
GDP Constant Prices 5175.10 5143.20 5175.10 2544.70 EUR Million [+]
Gross National Product 20730.85 19213.76 20730.85 6924.70 EUR Million [+]
Gross Fixed Capital Formation 792.40 1533.50 1533.50 -6064.00 EUR Million [+]
GDP per capita 30926.50 30100.20 32727.10 7353.20 USD [+]
GDP per capita PPP 33047.55 32002.23 36013.62 22059.56 USD [+]
GDP From Agriculture 82.30 81.80 153.40 76.40 EUR Million [+]
GDP From Construction 324.80 331.70 494.60 158.30 EUR Million [+]
GDP From Manufacturing 236.53 235.23 272.27 163.52 EUR Million [+]
GDP From Mining 333.70 330.80 376.40 245.50 EUR Million [+]
GDP From Public Administration 476.12 469.57 476.12 161.34 EUR Million [+]
GDP From Services 1098.80 1098.20 1108.30 577.23 EUR Million [+]


Cyprus GDP Annual 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. Industry accounts for only 10 percent and agriculture for 2 percent. 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. This page provides - Cyprus GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.40 3.80 6.60 -6.70 1996 - 2019 percent Quarterly
SA, WDA




Country Last Previous
China 6.20 Jun/19
India 5.80 Mar/19
Indonesia 5.07 Mar/19
United States 3.20 Mar/19
Spain 2.40 Mar/19
Australia 1.80 Mar/19
United Kingdom 1.80 Mar/19
Netherlands 1.70 Mar/19
Saudi Arabia 1.70 Mar/19
South Korea 1.70 Mar/19
Switzerland 1.70 Mar/19
Canada 1.30 Mar/19
Euro Area 1.20 Mar/19
France 1.20 Mar/19
Mexico 1.20 Mar/19
Japan 0.90 Mar/19
Germany 0.70 Mar/19
Brazil 0.50 Mar/19
Russia 0.50 Mar/19
Singapore 0.10 Jun/19
South Africa 0.00 Mar/19
Italy -0.10 Mar/19
Turkey -2.60 Mar/19
Argentina -5.80 Mar/19


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