GDP in Cyprus
Cyprus - GDPComprehensive second quarter data confirmed solid growth in the economy, which expanded a buoyant 3.6% over the same period last year. The reading matched Q1’s figure, a multi-year high. A booming tourism sector has had a positive impact on the country’s labor market, and private consumption also recorded strong growth in the quarter. Incoming data suggests the positive momentum has carried over into Q3: Tourist arrivals grew by double digits in August, and the trade deficit narrowed in July. The positive momentum has also had a favorable impact on the government’s finances, which led S&P Global Ratings to upgrade its outlook on the country’s sovereign credit rating to positive from stable on 15 September.
Cyprus - GDP Data
|Economic Growth (GDP, annual variation in %)||-3.2||-6.0||-1.5||1.7||2.8|
5 years of economic forecasts for more than 30 economic indicators.
Cyprus GDP Chart
Source: National Statistical Service and FocusEconomics calculations.
|Exchange Rate||1.18||-0.32 %||Oct 16|
|Stock Market||73.5||0.86 %||Oct 16|
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