Cyprus recorded the third-highest annual GDP growth in EU in the second quarter of 2025, according to data published by Eurostat, with an increase of 3.3%, behind Ireland (18%) and Bulgaria (3.4%).
Compared with the previous quarter, GDP in Cyprus increased by 0.5%.
In the second quarter of 2025, seasonally adjusted GDP increased by 1.5% in the euro area and by 1.6% in the EU compared with the same quarter of 2024. Compared with the previous quarter, GDP increased by 0.1% in the euro area and by 0.2% in the EU. In the first quarter of 2025, GDP had increased by 0.6% in the euro area and by 0.5% in the EU.
Compared with the previous year, only Luxembourg recorded a decrease in GDP (-0.2%). Compared with the first quarter of 2025, GDP decreased in Finland (-0.4%), Germany (-0.3%) and Italy (-0.1%).
Cyprus ranks fifth in employment growth in the EU
At the same time, according to Eurostat data, Cyprus recorded the fifth-highest employment growth in the EU, with an increase of 1.8% in the second quarter of 2025 compared with the same quarter of the previous year, and the fourth-highest increase (0.5%) compared with the first quarter of 2025.
Based on seasonally adjusted figures, Eurostat estimates that in the second quarter of 2025, 219.9 million people were employed in the EU, of which 171.6 million were in the euro area.
As Eurostat noted, the combination of GDP and employment data allows an estimation of labour productivity. In the second quarter of 2025, productivity per person increased by 0.8% in the euro area and by 1.2% in the EU compared with the same quarter of the previous year.
Based on hours worked, productivity compared with the same quarter of the previous year increased by 1.1% in the euro area and by 1.5% in the EU.
Based on hours worked, GDP growth in Cyprus amounted to 2.2% compared with the previous year, ranking third in the EU behind Malta and Luxembourg, while it decreased by 0.2% compared with the first quarter.
(Source: CNA)
