Financial News: Cyprus Q1 GDP Growth Confirmed At 3.0%

Cyprus Q1 GDP Growth Confirmed At 3.0%

06/02/2026 - 08:56:00 (RTTNews)

(RTTNews) - Cyprus' economic growth rate moderated in the first quarter of 2026, as estimated initially, the latest data from the statistical office showed on Tuesday.

Gross domestic product advanced a seasonally adjusted 3.0 percent year-on-year, slower than the 4.3 percent increase in the fourth quarter. That was in line with the flash data published on May 13. Further, this was the weakest expansion since the third quarter of 2023.

On the production side, the annual growth in agriculture, forestry, and fishing eased to 0.1 percent from 1.0 percent. Similarly, manufacturing growth moderated to 1.9 percent from 4.1 percent, and the construction sector also expanded at a slower pace of 4.9 percent versus 8.9 percent in the previous quarter.

The expenditure breakdown showed that household consumption grew 5.1 percent, and government consumption expenditure was 4.6 percent higher. Gross fixed capital formation, or investments, recovered 1.6 percent, and both exports and imports climbed by 10.5 percent and 10.4 percent, respectively.

On a quarterly basis, GDP rose 0.2 percent in the first quarter, slower than the 1.5 percent increase in the fourth quarter of 2025.

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