The economy of Cyprus expanded 5.6 percent year-on-year in the third quarter of 2021, easing from a record 13.3 percent in the previous quarter, as low base effects wane. The growth was mainly attributed to increased output for wholesale trade, transportation, accommodation, and services (16.9 percent), mining and quarrying, manufacturing, and utilities (7.4 percent), and information and communication (4.7 percent), and financial and insurance services (3.1 percent). On a quarterly basis, the gross domestic product edged up by 1.5 percent, the same rate as seen in the second quarter. source: Statistical Service of the Republic of Cyprus
GDP Annual Growth Rate in Cyprus averaged 2.56 percent from 1996 until 2021, reaching an all time high of 13.30 percent in the second quarter of 2021 and a record low of -12.60 percent in the second quarter of 2020. This page provides - Cyprus GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
GDP Annual Growth Rate in Cyprus is expected to be 5.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus GDP Annual Growth Rate is projected to trend around 2.80 percent in 2022, according to our econometric models.