Full Year GDP Growth in Cyprus increased to 5.51 percent in 2021 from -5.23 percent in 2020. source: Statistical Service of the Republic of Cyprus

Full Year GDP Growth in Cyprus averaged 2.70 percent from 1996 until 2021, reaching an all time high of 6.45 percent in 2016 and a record low of -6.55 percent in 2013. This page includes a chart with historical data for Cyprus Full Year GDP Growth. Cyprus Full Year GDP Growth - values, historical data and charts - was last updated on July of 2022.

Full Year GDP Growth in Cyprus is expected to reach 3.90 percent by the end of 2022, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus Full Year GDP Growth is projected to trend around 3.50 percent in 2023 and 3.10 percent in 2024, according to our econometric models.

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Cyprus Full Year GDP Growth



Related Last Previous Unit Reference
GDP Growth Rate 1.00 0.70 percent Mar 2022
GDP Annual Growth Rate 5.60 5.90 percent Mar 2022
GDP 23.80 24.95 USD Billion Dec 2020

Cyprus Full Year GDP Growth
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
5.51 -5.23 6.45 -6.55 1996 - 2021 percent Yearly
Constant Prices, NSA