Cyprus GDP Annual Growth Rate

Last Release

Jun 30, 2025

Actual

3.3

Units In

Frequency

Quarterly

Next Release

Dec 02, 2025

Time to Release

2 Months 28 Days 11 Hours

Highest	Lowest	Average	Date Range	Source
13.3 Jun 2021	-12.6 Jun 2020	2.73 %	1996-2025	Statistical Service of the Republic of Cyprus

Services including tourism, financial services, and real estate are considered as the backbone of the Cyprus economy, accounting for nearly 80 percent of GDP. Industry accounts for only 10 percent and agriculture for 2 percent. On the expenditure side, household consumption is the main component of GDP and accounts for 70 percent of its total use, followed by government expenditure (16 percent) and gross fixed capital formation (11 percent). Exports of goods and services account for 55 percent of GDP while imports account for 53 percent, adding 2 percent of total GDP.

Latest Updates

The economy of Cyprus expanded by 3.3% year-on-year in the second quarter of 2025, confirming flash estimates and slightly above the 3.1% growth recorded in the previous three-month period. This marked the strongest economic expansion since the third quarter of 2024, mainly driven by positive contributions from wholesale and retail trade, repair of motor vehicles (6% vs 3.9% in Q1), information and communication (6.2% vs 5.3%), and professional, scientific and technical activities (3.1% vs 2.2%). Meanwhile, net trade contributed negatively to the GDP, with imports (6.8%) rising more than exports (4.5%). On a quarterly basis, GDP advanced by 0.5% in Q2, slowing from a 1.3% gain in the preceding period.