Cyprus GDP YoYCyprus GDP YoYCyprus GDP YoY

Cyprus GDP YoY

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Key data points


Last release
Observation period
Q2 2024
Next release
Forecast
Highest
16.90% on Jun 30, 2021
Lowest
−10.30% on Jun 30, 2020

About Cyprus GDP YoY


Category
GDP
Frequency
Quarterly
Units
%
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.