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 pound 29,419.9 billion. In current prices, GDP was at pound 34,770.2 billion.