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Cyprus GDP at €33,567m in 2024, growth rate at 3.4% in real terms

07:36 - 24 April 2025

Economy Reporter

The Gross Domestic Product (GDP) reached €33,567.7m in 2024 at current market prices, according to the updated National Accounts, which incorporate changes in Balance of Payments (BOP) and Government Finance Statistics (GFS), and the change of base year from 2010 to 2019 for the calculation of volume measures.

At the same time, GDP at volume measures was at €28,749.6 and the growth rate of the economy in 2024 was confirmed as positive at 3.4% in real terms (volume measures).

CySTAT said that, regarding the production approach for the estimation of GDP in real terms, the positive growth rate is mainly attributed to the sectors: "Hotels and Restaurants", “Information and communication”, “Construction” and “Wholesale and retail trade; repair of motor vehicles and motorcycles.”

(Source: CNA)

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