The Gross Domestic Product (GDP) in Cyprus expanded 1.10 percent in the fourth quarter of 2022 over the previous quarter. source: Statistical Service of the Republic of Cyprus

GDP Growth Rate in Cyprus averaged 0.67 percent from 1995 until 2022, reaching an all time high of 6.50 percent in the third quarter of 2020 and a record low of -11.60 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 March of 2023.

GDP Growth Rate in Cyprus is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus GDP Growth Rate is projected to trend around 0.60 percent in 2024 and 0.40 percent in 2025, according to our econometric models.

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Cyprus GDP Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2023-02-14 10:00 AM QoQ Flash Q4 1.1% 1.3% 0.1%
2023-03-01 10:00 AM QoQ Final Q4 1.1% 1.6% 1.1% 1.1%
2023-05-16 09:00 AM QoQ Flash Q1 0.1%

Related Last Previous Unit Reference
GDP Growth Rate 1.10 1.60 percent Dec 2022
GDP Annual Growth Rate 4.50 5.30 percent Dec 2022
GDP Constant Prices 6150.90 6085.70 EUR Million Dec 2022
Gross National Product 27011.70 24018.85 EUR Million Dec 2022
Gross Fixed Capital Formation 816.31 1152.20 EUR Million Dec 2022
Full Year GDP Growth 5.63 6.64 percent Dec 2022
GDP from Services 1177.70 1171.30 EUR Million Dec 2022
GDP from Public Administration 1058.50 1052.00 EUR Million Dec 2022
GDP from Mining 403.60 406.10 EUR Million Dec 2022
GDP from Manufacturing 325.98 325.30 EUR Million Dec 2022
GDP from Construction 361.70 364.20 EUR Million Dec 2022
GDP from Agriculture 93.90 93.80 EUR Million Dec 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
1.10 1.60 6.50 -11.60 1995 - 2022 percent Quarterly