The economy of Cyprus grew 5.6 percent year-on-year in the first quarter of 2022, easing from a 5.9 percent growth in the previous three-month period and matching preliminary estimates. It was the fourth consecutive quarter of economic expansion, underpinned by increased output from hotels and restaurants; transport, storage and communication; wholesale and retail trade; arts, entertainment and recreation; and other service activities. On a quarterly basis, the GDP went up by 1 percent, advancing slightly from a 0.9 percent growth in the previous quarter. source: Statistical Service of the Republic of Cyprus
GDP Annual Growth Rate in Cyprus averaged 2.63 percent from 1996 until 2022, reaching an all time high of 13.30 percent in the second quarter of 2021 and a record low of -11.70 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 2022.
GDP Annual Growth Rate in Cyprus is expected to be 3.30 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 2.80 percent in 2023, according to our econometric models.