Economy category powered by

GDP growth at 2.1% in Q2 2023

15:11 - 16 August 2023

Economy Reporter

GDP growth rate in real terms during the second quarter of 2023 is positive and it is estimated at 2.1% over the corresponding quarter of 2022, according to a flash estimate by CySTAT.

In particular, based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 2.3%.

The positive GDP growth rate is mainly attributed to the sectors: "Hotels and Restaurants", "Transport and Storage", "Information and Communication", "Wholesale and Retail Trade, Repair of Motor Vehicles", "Arts, Entertainment and Recreation" and "Other Service Activities".

When compared to the previous quarter (seasonally and working day adjusted data) GDP growth was 0.4% slower.

(Source: CNA)

News Feed

Read More

Christodoulides and Mitsotakis confirm political will for participation in GSI
Cyprus President and Greek PM set to discuss electricity interconnection
Harmonised Index of Consumer Prices up 2.2% in August
Price of construction materials dropped in August compared to last year
US Ambassador welcomes announcement on Aphrodite gas field
EIB Vice President in Cyprus for two loan agreements for CUT
Cyprus and Chevron discuss path forward for 'Aphrodite' gas field
Cyprus Marine Club hosts first Get Together after summer break
Cyprus and Greece to share potential interconnector geopolitical cost 50/50
President and CBC Governor discuss Cypriot economy, interest rates