Cyprus economy expanded 3.2 percent year-on-year in the last quarter of 2019, following a 3.3 percent advance in the previous period, a preliminary estimate showed. Positive contributions to growth came from hotels and restaurant, retail and wholesale trade, construction, manufacturing, professional, scientific and technical activities and administrative and support service activities. On the other hand, financial and insurance activities declined. On a quarterly basis, the economy grew 0.8 percent, after a 0.5 percent gain in the third quarter.
GDP Annual Growth Rate in Cyprus averaged 2.54 percent from 1996 until 2019, reaching an all time high of 7 percent in the fourth quarter of 2016 and a record low of -7.50 percent in the second quarter of 2013. This page provides - Cyprus GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
GDP Annual Growth Rate in Cyprus is expected to be 2.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Cyprus to stand at 2.50 in 12 months time. In the long-term, the Cyprus GDP Annual Growth Rate is projected to trend around 2.50 percent in 2021 and 3.20 percent in 2022, according to our econometric models.