The economy of Cyprus grew by 3.0% year-on-year in the first quarter of 2026, down from 4.5% in the previous period and confirming preliminary estimates. This marked the weakest expansion since Q1 2021, as growth slowed across several sectors, including agriculture, forestry, and fishing (0.1% vs 1.1% in Q4), mining and quarrying (2.0% vs 4.3%), manufacturing (1.9% vs 4.7%), and construction (4.9% vs 9.2%). On the expenditure side, final consumption expenditure growth accelerated (4.9% vs 4.0%), supported by household spending (5.1% vs 3.3%), while gross fixed capital formation returned to growth (1.5% vs -15.2%). Net trade also contributed positively, with exports rising 10.5% and imports increasing 10.4%. On a quarterly basis, GDP grew by 0.2%, slowing sharply from 1.4% in the previous quarter and marking the weakest pace since Q4 2022. source: Statistical Service of the Republic of Cyprus

The Gross Domestic Product (GDP) in Cyprus expanded 3 percent in the first quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Cyprus averaged 3.32 percent from 1996 until 2026, reaching an all time high of 18.80 percent in the second quarter of 2021 and a record low of -10.40 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 June of 2026.

The Gross Domestic Product (GDP) in Cyprus expanded 3 percent in the first quarter of 2026 over the same quarter of the previous year. GDP Annual Growth Rate in Cyprus is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus GDP Annual Growth Rate is projected to trend around 3.00 percent in 2027 and 3.20 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-05-13 09:00 AM
YoY Flash
Q1 3.0% 4.3% 3.2%
2026-06-02 09:00 AM
YoY Final
Q1 3.0% 4.3% 3.0%
2026-08-14 09:00 AM
YoY Flash
Q2 2.5%


Related Last Previous Unit Reference
Full Year GDP Growth 3.80 3.43 percent Dec 2025
GDP Growth Rate YoY 3.00 4.30 percent Mar 2026
GDP Constant Prices 7798.10 7761.20 EUR Million Mar 2026
GDP from Agriculture 83.40 82.41 EUR Million Mar 2026
GDP from Construction 375.80 384.10 EUR Million Mar 2026
GDP from Manufacturing 333.00 333.56 EUR Million Mar 2026
GDP from Mining 457.80 455.93 EUR Million Mar 2026
GDP from Public Administration 1209.30 1213.30 EUR Million Mar 2026
GDP from Services 1579.80 1580.90 EUR Million Mar 2026
GDP Growth Rate 0.20 1.20 percent Mar 2026
Gross Fixed Capital Formation 1488.20 1566.90 EUR Million Mar 2026
Gross National Product 32190.26 31016.41 EUR Million Dec 2025


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.
Actual Previous Highest Lowest Dates Unit Frequency
3.00 4.30 18.80 -10.40 1996 - 2026 percent Quarterly
SA, WDA

News Stream
Cyprus Q1 GDP Growth Slows to 5-Year Low
The economy of Cyprus grew by 3.0% year-on-year in the first quarter of 2026, down from 4.5% in the previous period and confirming preliminary estimates. This marked the weakest expansion since Q1 2021, as growth slowed across several sectors, including agriculture, forestry, and fishing (0.1% vs 1.1% in Q4), mining and quarrying (2.0% vs 4.3%), manufacturing (1.9% vs 4.7%), and construction (4.9% vs 9.2%). On the expenditure side, final consumption expenditure growth accelerated (4.9% vs 4.0%), supported by household spending (5.1% vs 3.3%), while gross fixed capital formation returned to growth (1.5% vs -15.2%). Net trade also contributed positively, with exports rising 10.5% and imports increasing 10.4%. On a quarterly basis, GDP grew by 0.2%, slowing sharply from 1.4% in the previous quarter and marking the weakest pace since Q4 2022.
2026-06-02
Cyprus GDP Growth Lowest Since 2021
The economy of Cyprus grew by 3% year-on-year in the first quarter of 2026, marking the slowest expansion since the first quarter of 2021 and easing from a revised 4.3% growth in the previous quarter, according to flash estimates. Economic activity continued to be supported by strong performances in the wholesale and retail trade, repair of motor vehicles, information and communication, and financial and insurance sectors. On a quarterly basis, GDP increased by 0.2% in the first quarter, marking the weakest pace of expansion since the fourth quarter of 2022, following a revised 1.2% rise in the prior period.
2026-05-13
Cyprus GDP Expands Most in 3 Years
The economy of Cyprus expanded 4.5% year-on-year in the fourth quarter of 2025, up from 3.6% in the previous period, confirming preliminary estimates. This marks the strongest economic expansion since Q4 2022, mainly driven by wholesale and retail trade, repair of motor vehicles, information and communication, and hotels and restaurants (+7.2%). Construction also recorded strong growth, rising 9.2%, while manufacturing increased by 4.7%. On the expenditure side, final consumption expenditure rose by 4.0%, supported by a 6.4% increase in government spending, while household consumption grew by 3.3%. Net trade also contributed positively, as exports of goods and services increased by 4.4%, while imports rose by 2.7%. Meanwhile, fixed investments declined by 15.2%. On a quarterly basis, GDP grew by 1.4%, the fastest pace since Q1 2024, accelerating from 0.9% in Q3. For the whole year, GDP expanded by 3.8%.
2026-03-02