The economy of Cyprus expanded 3.7 percent year-on-year in the third quarter of 2018, above a preliminary figure of 3.6 percent but below a 4.0 percent advance in the previous period. It is the slowest expansion since the fourth quarter of 2017. Output went up at a slower pace mostly for manufacturing (3.5 percent vs 5.3 percent in Q2); wholesale and retail trade, repair of motor vehicles and motorcycles, transport and accommodation services (4.2 percent vs 4.9 percent); professional, scientific and technical activities, administrative and support (6.4 percent vs 6.8 percent). In addition, finance and insurance fell further (-3.0 percent vs -2.1 percent). On the other hand, the construction sector continued to grow solidly (22.8 percent vs 18.2 percent). On a quarterly basis, the GDP grew 0.8 percent, matching the preliminary reading and advancing at the same pace as in the previous period. GDP Annual Growth Rate in Cyprus averaged 2.39 percent from 1996 until 2018, 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 second quarter of 2013.

GDP Annual Growth Rate in Cyprus is expected to be 4.00 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 3.80 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.

Cyprus GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-14 09:00 AM GDP Growth Rate YoY Flash 3.9% 4.0% 3.8%
2018-09-10 12:30 PM GDP Growth Rate YoY Final 3.9% 4.1% 3.9%
2018-11-14 10:00 AM GDP Growth Rate YoY Flash 3.6% 4% 3.7%
2018-12-07 10:00 AM GDP Growth Rate YoY Final 3.7% 4.0% 3.6%
2019-02-14 10:00 AM GDP Growth Rate YoY Flash 3.7% 4%
2019-03-08 10:00 AM GDP Growth Rate YoY Final 3.7% 4%
2019-05-15 09:05 AM GDP Growth Rate YoY Flash 3.90%


Cyprus GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.80 0.80 2.40 -2.00 percent [+]
GDP Annual Growth Rate 3.70 4.00 6.60 -6.70 percent [+]
GDP 21.65 20.15 27.84 0.49 USD Billion [+]
GDP Constant Prices 5076.90 5035.60 5076.90 2544.70 EUR Million [+]
Gross National Product 19213.76 18219.11 19213.76 6924.70 EUR Million [+]
Gross Fixed Capital Formation 911.70 1075.00 1417.90 -6064.00 EUR Million [+]
GDP per capita 29432.67 28549.47 32651.91 7618.12 USD [+]
GDP per capita PPP 32415.13 31442.44 35960.58 22873.31 USD [+]
GDP From Agriculture 85.10 85.00 117.30 54.40 EUR Million [+]
GDP From Construction 306.00 279.10 403.20 134.30 EUR Million [+]
GDP From Manufacturing 231.30 231.96 260.53 155.32 EUR Million [+]
GDP From Mining 329.90 333.60 341.60 230.90 EUR Million [+]
GDP From Public Administration 452.51 448.11 452.51 161.34 EUR Million [+]
GDP From Services 1100.10 1094.60 1100.10 578.95 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
3.70 4.00 6.60 -6.70 1996 - 2018 percent Quarterly
SA, WDA




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India 7.10 Sep/18
China 6.50 Sep/18
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United States 3.00 Sep/18
Australia 2.80 Sep/18
Mexico 2.50 Sep/18
Spain 2.50 Sep/18
Netherlands 2.40 Sep/18
Switzerland 2.40 Sep/18
Singapore 2.20 Sep/18
South Korea 2.00 Sep/18
Canada 1.90 Jun/18
Saudi Arabia 1.61 Jun/18
Euro Area 1.60 Sep/18
Turkey 1.60 Sep/18
United Kingdom 1.50 Sep/18
France 1.40 Sep/18
Brazil 1.30 Sep/18
Russia 1.30 Sep/18
Germany 1.10 Sep/18
South Africa 1.10 Sep/18
Italy 0.70 Sep/18
Japan 0.00 Sep/18
Argentina -4.20 Jun/18


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