The economy of Cyprus expanded by 6.1 percent year-on-year in the second quarter of 2022, following an upwardly revised 6 percent rise in the prior quarter, preliminary estimates showed. It marks the fifth consecutive quarter of growth, mainly supported by hotels and restaurants; transport and storage; information & communication; wholesale and retail trade, repair of motor vehicles; arts, entertainment and recreation and other service activities. On a quarterly basis, the GDP increased by 0.6 percent, following an upwardly revised 1.3 percent rise in the previous quarter. source: Statistical Service of the Republic of Cyprus
GDP Annual Growth Rate in Cyprus averaged 2.67 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 August of 2022.
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. 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.