The Cypriot economy continued its upward trajectory in the fourth quarter of 2024, recording a real GDP growth rate of 2.6%, according to a flash estimate released by the Cyprus Statistical Service (CyStat) on Friday.
After adjusting for seasonal and working day variations, the growth rate stands at 2.9%.
The expansion was largely driven by key sectors such as Hotels and Restaurants, Wholesale and Retail Trade, Repair of Motor Vehicles, and Information and Communication. However, the Construction sector experienced a decline, posting a negative growth rate.
On a quarterly basis, GDP increased by 0.3% compared to Q3 2024, reflecting steady but moderate economic growth.
Source: stockwatch.com.cy