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.