The Gross Domestic Product (GDP) in Cyprus expanded 1.50 percent in the third quarter of 2021 over the previous quarter. source: Statistical Service of the Republic of Cyprus

GDP Growth Rate in Cyprus averaged 0.62 percent from 1995 until 2021, reaching an all time high of 9.40 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 January of 2022.

GDP Growth Rate in Cyprus is expected to be 1.50 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 0.50 percent in 2022 and 0.60 percent in 2023, according to our econometric models.

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Cyprus GDP Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2021-11-16 10:15 AM QoQ Flash Q3 1.3% 1.5% 0.1%
2021-12-01 10:00 AM QoQ Final Q3 1.5% 1.5% 1.3%
2022-02-15 10:00 AM QoQ Flash Q4 1.5%

Related Last Previous Unit Reference
GDP Growth Rate 1.50 1.50 percent Sep/21
GDP Annual Growth Rate 5.60 13.30 percent Sep/21
GDP Constant Prices 5632.20 5323.50 EUR Million Sep/21
Gross National Product 21000.31 22286.88 EUR Million Dec/20
Gross Fixed Capital Formation 964.49 1058.90 EUR Million Sep/21
GDP From Services 1146.00 1081.90 EUR Million Sep/21
GDP From Public Administration 1024.70 996.02 EUR Million Sep/21
GDP From Mining 384.50 353.00 EUR Million Sep/21
GDP From Manufacturing 307.05 296.66 EUR Million Sep/21
GDP From Construction 361.60 355.80 EUR Million Sep/21
GDP From Agriculture 94.70 88.00 EUR Million Sep/21
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.