Financial News: Cyprus GDP Growth Strengthens In Q2

Cyprus GDP Growth Strengthens In Q2

09/01/2026 - 16:30:00 (RTTNews)

(RTTNews) - Cyprus' economic growth improved in the second quarter of this year after slowing in the previous three months, underpinned by strong growth in investments and consumption, preliminary data from the statistical office showed on Tuesday.

Gross domestic product rose a seasonally and working day adjusted 3.3 percent year-on-year after a 3.0 percent increase in the first quarter.

In the same quarter a year ago, the Cypriot economy expanded 3.7 percent.

Total consumption rose 5.2 percent. Within this, household consumption grew 5.4 percent, and government spending increased 4.5 percent.

Gross fixed capital formation logged 9.4 percent growth. However, this decreased 2.0 percent when ships and aircrafts were excluded.

Imports grew 12.9 percent and exports rose 9.6 percent.

The economy grew an adjusted 0.8 percent quarter-on-quarter after a 0.5 percent expansion in the previous quarter. This was largely driven by total gross fixed capital formation.

Both the yearly and quarterly growth figures matched the initial estimates released on August 14.

On an unadjusted basis, GDP rose 3.0 percent year-on-year in the second quarter after a 2.8 percent gain in the previous three months.

Separate data from the statistical office showed that the retail sales volume grew 8.9 percent year-on-year in July.

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