Cyprus GDP Q3 2019


Cyprus: Growth gathers pace in Q3

November 14, 2019

Annual growth picked up to 3.2% in the third quarter from 3.0% in the previous quarter, which had marked the slowest expansion since Q1 2015.

According to the preliminary release by the Statistical Service of Cyprus (CYSTAT), the third-quarter upturn was mainly supported by the following sectors: hotels and restaurants; retail and wholesale trade; construction; manufacturing; professional, scientific and technical activities; and administrative and support service activities.

In seasonally- and working-day-adjusted terms, the economy grew 0.7% quarter-on-quarter in Q3, matching Q2’s outturn.

More detailed national accounts data will be released on 9 December.

FocusEconomics panelists expect GDP to increase 2.8% in 2020, which is up 0.1 percentage points from last month’s forecast, and 2.6% in 2021.

Author:, Economist

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