The Cyprus economy advanced 3.2 percent year-on-year in the second quarter of 2019, unrevised from the preliminary estimate and unchanged from the revised value in the previous period. Final consumption advanced faster (6.3 percent vs 6.2 percent in Q1), as government consumption increased further (12.9 percent vs 10.9 percent) while household consumption slowed (4.8 percent vs 5.1 percent). Meantime, gross fixed capital formation rose at a softer pace (21.6 percent vs 68.3 percent). Regarding net trade, exports dropped 3.1 percent (from 1.2 percent in Q1) while imports fell 1.1 percent (from 15.8 percent in Q1). On a quarterly basis, the gross domestic product expanded 0.8 percent, higher than a preliminary estimate of 0.7 percent and accelerating from a 0.6 percent gain in the first quarter. GDP Annual Growth Rate in Cyprus averaged 2.43 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 second quarter of 2013.

GDP Annual Growth Rate in Cyprus is expected to be 3.00 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 2.60 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
2019-05-15 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 3.2% 3.4% 4.2%
2019-09-06 09:00 AM GDP Growth Rate YoY Final Q2 3.2% 3.2% 3.2%
2019-11-14 10:00 AM GDP Growth Rate YoY Flash Q3 3.2% 3%
2019-12-09 10:00 AM GDP Growth Rate YoY Final Q3 3.2% 3%


Cyprus GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.80 0.60 2.40 -2.00 percent [+]
GDP Annual Growth Rate 3.20 3.20 6.60 -6.70 percent [+]
GDP 24.47 22.14 27.84 0.49 USD Billion [+]
GDP Constant Prices 5211.90 5175.10 5211.90 2544.70 EUR Million [+]
Gross National Product 20730.85 19213.76 20730.85 6924.70 EUR Million [+]
Gross Fixed Capital Formation 1151.90 792.40 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 82.40 82.30 153.40 76.40 EUR Million [+]
GDP From Construction 348.20 324.80 494.60 158.30 EUR Million [+]
GDP From Manufacturing 236.09 236.53 272.27 163.52 EUR Million [+]
GDP From Mining 330.50 333.70 376.40 245.50 EUR Million [+]
GDP From Public Administration 481.66 476.12 481.66 161.34 EUR Million [+]
GDP From Services 1108.10 1098.80 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 September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.20 3.20 6.60 -6.70 1996 - 2019 percent Quarterly
SA, WDA




Country Last Previous
China 6.20 Jun/19
Indonesia 5.05 Jun/19
India 5.00 Jun/19
Spain 2.30 Jun/19
United States 2.30 Jun/19
Netherlands 2.00 Jun/19
South Korea 2.00 Jun/19
Saudi Arabia 1.70 Mar/19
Canada 1.60 Jun/19
Australia 1.40 Jun/19
France 1.40 Jun/19
Euro Area 1.20 Jun/19
United Kingdom 1.20 Jun/19
Brazil 1.00 Jun/19
Japan 1.00 Jun/19
Russia 0.90 Jun/19
South Africa 0.90 Jun/19
Germany 0.40 Jun/19
Switzerland 0.20 Jun/19
Singapore 0.10 Jun/19
Italy -0.10 Jun/19
Mexico -0.80 Jun/19
Turkey -1.50 Jun/19
Argentina -5.80 Mar/19


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