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Cyprus economy grows 3.0% in first quarter of 2025

14:31 - 15 May 2025

Economy

Cyprus' economy expanded by 3.0% year-on-year in the first quarter of 2025, according to a flash estimate released by Cystat.

The seasonally and working day adjusted GDP also recorded a 3.0% annual increase. On a quarterly basis, the economy grew by 1.3% compared to the fourth quarter of 2024, showing an acceleration from the previous quarter's 0.2% rise.

However, the current growth is slightly below the 3.7% recorded in the same quarter last year.

The growth was mainly driven by robust activity in key sectors including Wholesale and Retail Trade, the Repair of Motor Vehicles and Information and Communications technology.

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