The growth rate of the economy in 2024 is positive and is estimated at 3.9% in real terms, according to a revised estimate published on Monday by the Cyprus Statistical Service.

At current prices, the percentage change in Gross Domestic Product (GDP) amounts to 7.2%.

According to CYSTAT, regarding the production approach for the estimation of GDP in real terms, the positive growth rate is mainly attributed to the sectors: “Information and communication”, “Hotels and Restaurants”, “Construction” and “Wholesale and retail trade; repair of motor vehicles and motorcycles”.

GDP in real terms in 2024 stood at €29,419.9 billion. In current prices, GDP was at €34,770.2 billion.