CNA News

Cyprus’ economic growth rate revised to 5.1% for 2022

The economic growth rate for Cyprus in 2022 has been slightly adjusted, standing at 5.1% in real terms (volume measures), as announced Friday by the Statistical Service of Cyprus. This figure is marginally lower than the 5.6% initially reported in September.

At current prices, the percentage change in Gross Domestic Product (GDP) amounts to 11,4%.

Regarding the production approach for the estimation of GDP, the positive growth rate is mainly attributed to the sectors “Hotels and Restaurants”, “Information and Communication”, “Transport and Storage”, “Wholesale and Retail Trade” and ” Administrative and support service activities”.