Cyprus economy shows growth as official statistics are revised

The Statistical Service of Cyprus announced on October 20, 2026, that the country's economic growth for 2025 reached 4.8%. This figure accompanies significant upward revisions to previous years: growth rates for 2024 were adjusted to 6.6% (from 3.9%), 2023 to 6.0% (from 3.6%), and 2022 to 8.9% (from 8.7%). These revisions resulted from updated data sources, the completion of supply and use tables, and the inclusion of large corporate transactions and household solar energy production.

In addition to annual figures, the service reported a 3.3% growth rate for the second quarter of 2026 compared to the same period in 2025. This quarterly performance was largely driven by the wholesale and retail trade, construction, information and communication, and hospitality sectors. Gross Domestic Product (GDP) for the second quarter of 2026 reached €8,369.3 million, marking a 1.2% increase compared to the first quarter of 2026. The data reflects a robust economic environment supported by increased investment and consumer activity.