Cyprus Sees Robust 2.6% GDP Growth In Q4 2024

by THEFUTURE.TEAM

February 17, 2025

Cyprus has recorded a solid 2.6% GDP growth in real terms for the fourth quarter of 2024, according to the latest flash estimate from the Cyprus Statistical Service (CySTAT).

When adjusted for seasonal and working day variations, the real GDP growth rate rises slightly to 2.9%, reflecting an overall positive economic trajectory.

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Key contributors to this growth include the “Hotels and Restaurants,” “Wholesale and Retail Trade, Repair of Motor Vehicles,” and “Information and Communication” sectors. However, the “Construction” sector experienced a decline, registering negative growth.

In comparison to the third quarter of 2024, the fourth quarter saw a modest 0.3% increase in GDP, further highlighting the continued strength of the Cypriot economy heading into the new year.

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Cyprus Unemployment At 4.2% In February 2026, Eurostat Data Show

by THEFUTURE.TEAM

April 2, 2026

Eurostat data show that Cyprus recorded a lower unemployment rate in February 2026, while rates in the euro area increased every month.

Strong Performance In Cyprus

Cyprus reported an unemployment rate of 4.20% in February 2026, down from 4.50% in February 2025. The number of unemployed declined from about 23,000 to 22,000 individuals over the same period.

Euro Area Trends And Broader EU Dynamics

Across the euro area, the seasonally adjusted unemployment rate rose to 6.20% in February 2026 from 6.10% in January. On an annual basis, the rate declined from 6.30% in February 2025. Across the European Union, unemployment stood at 5.90% in February 2026, compared to 6.00% a year earlier.

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Youth And Gender Disparities

Youth unemployment in the EU reached 15.30%, with 2,957,000 individuals under 25 recorded as unemployed. Female unemployment in the EU increased to 6.10% in February from 6.00% in January, while the male rate remained at 5.70%. Similar trends were observed in the euro area.

Conclusion: A Mixed Economic Landscape

Monthly data show an increase in the number of unemployed by 137,000 in the EU and 93,000 in the euro area. Annual figures indicate a decline in unemployment rates, while Cyprus maintains a lower level compared to EU and euro area averages.

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