Overview
Discussions Key data points
Last release
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Observation period
2023
Next release
—
Forecast
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Highest
9.91% on Dec 31, 2021
Lowest
−6.59% on Dec 31, 2013
About Cyprus Full Year GDP Growth
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.