GDP in Cyprus
Cyprus - GDP
Growth wanes in Q4 2019
Annual growth ebbed to 3.2% in the fourth quarter of 2019 from 3.5% in the previous quarter. According to the preliminary release by the Statistical Service of Cyprus (CYSTAT), the fourth-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 0.8% quarter-on-quarter in Q4 2019, above Q3’s 0.5% increase.
More detailed national accounts data will be released on 28 February.
FocusEconomics panelists project GDP to increase 2.9% in 2020, which is up 0.1 percentage points from last month’s forecast, and 2.5% in 2021.
Cyprus - GDP Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | -1.3 | 2.0 | 4.8 | 4.5 | 3.9 |
Cyprus GDP Chart
Source: National Statistical Service and FocusEconomics calculations.
Cyprus Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Cyprus: Growth wanes in Q4 2019
February 14, 2020
Annual growth ebbed to 3.2% in the fourth quarter of 2019 from 3.5% in the previous quarter.
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Cyprus: Inflation climbs to nine-month high in January
February 6, 2020
Consumer prices fell 0.6% from the previous month in January, following December’s 0.2% month-on-month dip.
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Cyprus: Industrial output cools in November
January 30, 2020
Industrial production rose 0.9% year-on-year in November 2019, halving from October’s 1.8% increase.
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Cyprus: Consumer prices, on an annual basis, return to growth after six consecutive months of decline in December
January 3, 2020
Consumer prices fell 0.2% from the previous month in December, contrasting November’s 0.3% month-on-month increase.
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Cyprus: Industrial output loses momentum in October
December 30, 2019
Industrial production rose 1.8% year-on-year in October, down from September’s revised 6.1% jump (previously reported: +5.0% year-on-year) which had marked best result in seven months.
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