GDP in Cyprus

Cyprus GDP | Economic News & Forecasts

Cyprus - GDP

Comprehensive 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

2012  2013  2014  2015  2016  
Economic Growth (GDP, annual variation in %)-3.2  -6.0  -1.5  1.7  2.8  

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Cyprus GDP Chart

Cyprus GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: National Statistical Service and FocusEconomics calculations.

Cyprus Facts

Exchange Rate1.18-0.32 %Oct 16
Stock Market73.50.86 %Oct 16

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