Cyprus economy grew by 3.4% in 1Q 2019


The economy of Cyprus grew by 3.4% in the first quarter of 2019, according to a flash estimate of the Statistical Service.

“The GDP growth rate in real terms during the first quarter of 2019 is positive and is estimated at +3.4% over the corresponding quarter of 2018”, Cystat announced on Wednesday.

It added that based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 3.5%.

It said that the increase of the GDP growth rate was mainly attributed to the sectors of hotels and restaurants, retail and wholesale trade, construction, manufacturing, professional, scientific and technical activities and administrative and support service activities.

Financial and insurance activities recorded a negative growth rate, according to Cystat.

Source: Cyprusdaily