The Gross Domestic Product (GDP) in Cyprus expanded 1 percent in the first quarter of 2022 over the previous quarter. source: Statistical Service of the Republic of Cyprus

GDP Growth Rate in Cyprus averaged 0.63 percent from 1995 until 2022, reaching an all time high of 9.40 percent in the third quarter of 2020 and a record low of -13.10 percent in the second quarter of 2020. This page provides - Cyprus GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Cyprus GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.

GDP Growth Rate in Cyprus is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Cyprus GDP Growth Rate is projected to trend around 0.60 percent in 2023, according to our econometric models.

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Cyprus GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-17 09:00 AM QoQ Flash Q1 0.7% 0.7% 0.4%
2022-06-01 10:00 AM QoQ Final Q1 1% 0.7% 0.7%
2022-08-17 09:00 AM QoQ Flash Q2 1%


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 Constant Prices 5779.00 5710.10 EUR Million Mar 2022
Gross National Product 23352.80 21000.31 EUR Million Dec 2021
Gross Fixed Capital Formation 1128.50 686.38 EUR Million Mar 2022
Full Year GDP Growth 5.51 -5.23 percent Dec 2021
GDP From Services 1211.90 1174.80 EUR Million Mar 2022
GDP From Public Administration 1034.30 1028.60 EUR Million Mar 2022
GDP From Mining 391.30 380.00 EUR Million Mar 2022
GDP From Manufacturing 309.71 311.55 EUR Million Mar 2022
GDP From Construction 350.90 357.30 EUR Million Mar 2022
GDP From Agriculture 93.90 94.50 EUR Million Mar 2022

Cyprus GDP 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. 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
1.00 0.70 9.40 -13.10 1995 - 2022 percent Quarterly
SA, WDA