Cyprus Posts 3.9% GDP Growth In 2024 Amid Mixed Regional Recovery

by THEFUTURE.TEAM

February 11, 2026

Cyprus Demonstrates Robust Economic Resilience

In a striking display of economic strength, Cyprus recorded a notable 3.9% increase in real GDP in 2024, positioning itself among the top performers within the European Union. According to Eurostat, the recent regional data reveal that while 169 regions across the EU experienced growth compared to 2023, 64 regions suffered declines, underscoring the uneven pace of regional recovery.

Regional Leaders And Laggards

At the forefront, Bulgaria’s Yuzhen Tsentralen led the pack with an impressive 11.6% growth. Ireland’s Eastern and Midland region followed closely, posting an 8.5% increase, while Bulgaria’s Severen Tsentralen notched an 8.4% gain. Malta, viewed as a single administrative unit at this level of detail, recorded a solid 7.0% growth, and France’s overseas region of Mayotte came in with a 6.2% uptick.

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Considerable Contractions In Select Regions

Conversely, some regions experienced notable contractions. Bulgaria’s Yugoiztochen witnessed the steepest drop at 12.7%, while Southern Ireland and La Réunion, another French overseas region, recorded declines of 5.5% and 3.7% respectively. Additionally, Northern and Western Ireland and Austria’s Kärnten each faced GDP downturns of 3.6%.

GDP For Each Person: A Tale Of Stark Disparities

Beyond the aggregate growth numbers, Eurostat’s report highlighted significant disparities in regional GDP per person when adjusted for purchasing power. The statistics ranged dramatically, from Mayotte’s 30.1% of the EU average to Eastern and Midland Ireland’s impressive 268.3%. Luxembourg, bolstered by cross-border commuters and multinational enterprises, achieved 244.6%, followed by Southern Ireland at 216.6%, Hamburg in Germany at 196.1%, and Praha in the Czech Republic at 191.8%.

Cyprus In The Broader European Context

Within this broader mosaic, Cyprus maintained a GDP per person at 98.9% in purchasing power standards, positioning it just below the EU average. This outcome, alongside its robust overall growth, underscores Cyprus’ stable economic foundation amidst the varied fiscal performances across the continent.

In summary, while regions across the European Union chart a course of divergent economic fortunes in 2024, Cyprus’ performance highlights its resilience and strategic economic stability in a complex, evolving landscape.

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Mercedes-Benz Posts Higher Profit Despite China Slowdown

by THEFUTURE.TEAM

July 29, 2026

Mercedes-Benz reported stronger-than-expected second-quarter results, lifting its shares on Tuesday despite mounting pressure from Chinese automakers and a weaker outlook for sales and revenue.

The earnings provided a boost for Europe’s auto sector, where manufacturers continue to grapple with tariffs, softer demand and intensifying competition from Chinese rivals. Volkswagen, Mercedes-Benz and BMW have all accelerated restructuring efforts in response.

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Cost Discipline Lifts Quarterly Profit

Mercedes-Benz shares rose as much as 5.9% following the results before trimming gains to trade 3.5% higher by 1118 GMT. The company reaffirmed its profit margin guidance for its core passenger car business after reporting an adjusted return on sales of 4.0% for the second quarter, above market expectations and within its 3% to 5% target range.

“In an environment where some automakers are ringing alarm bells on their competitive positioning, Mercedes delivered a clear and confident message,” Morningstar analyst Rella Suskin said.

Second-quarter operating profit increased 22% to €1.5 billion ($1.7 billion), despite a 3% decline in revenue. Lower administrative and research and development costs, together with strong performances from the financial services and vans divisions, supported earnings, while the results also included a €131 million gain related to the planned sale of leasing subsidiary Athlon.

China Remains The Key Pressure Point

Despite stronger profitability, Mercedes continues to face a challenging market environment. Sales in China fell 30% during the second quarter, prompting the company to abandon earlier expectations for stable car sales and group revenue. It now expects both to decline slightly from a year earlier.

BMW also lowered its outlook in June following a deeper-than-expected slowdown in China, highlighting the pressure facing Germany’s premium carmakers. At the same time, Mercedes said Chinese manufacturers are increasingly expanding into European markets, although Chief Executive Ola Kaellenius said their focus remains on higher-volume segments rather than the premium market.

“But that is not a reason to sit back and be relaxed,” he said.

Manufacturing Shift Continues

Mercedes is also reshaping its manufacturing footprint. The company said its German factories will undergo a more aggressive push toward leaner production, although it declined to provide further details while talks with labour representatives continue. Production is also being expanded in lower-cost Eastern European locations, including Hungary, where the company is increasing capacity at its Kecskemet plant, as well as in Poland.

Chief Financial Officer Harald Wilhelm said the full-year margin for the passenger car division is expected to come in at the lower end of the company’s guidance range, reflecting a higher share of electric vehicle sales in Europe, which remain more expensive to produce and continue to weigh on profitability.

“We must continue to work flat out to reduce costs so that we can remain competitive on the prices of our products,” Kaellenius said.

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