Key data points
Last release
—
Observation period
Q3 2024
Next release
—
Forecast
—
Highest
7.00 % on Sep 30, 2020
Lowest
−11.90 % on Jun 30, 2020
About Cyprus GDP Growth Rate
Services including tourism, financial services, and real estate are considered as the backbone of the Cyprus economy, accounting for nearly 80 percent of GDP. 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.