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Cyprus GDP Annual Growth Rate

Cyprus' GDP annual growth rate rose to 3.45% in 2024, up from 2.76% in 2023, according to World Bank. This represents an increase of 0.69% from the previous year. Cyprus has GDP annual growth rate higher than the global median (3.45% vs median 3.24%). Compared with the median in Europe, Cyprus is higher (3.45% vs regional median 2.10%) and ranks 11th out of 47 countries in Europe.

Cyprus' real GDP rose to $31.02 billion in 2024, up from $29.98 billion in 2023.

Yearly Historical Data (1976-2024)

(in %)
Year GDP Annual Growth Rate (%)
2024 3.45%
2023 2.76%
2022 7.2%
2021 11.39%
2020 -3.22%
2019 5.88%
2018 6.27%
2017 5.75%
2016 6.57%
2015 3.42%
2014 -1.78%
2013 -6.59%
2012 -3.45%
2011 0.42%
2010 2.28%
2009 -2.02%
2008 3.65%
2007 5.1%
2006 4.71%
2005 4.85%
2004 5.03%
2003 2.62%
2002 3.72%
2001 3.95%
2000 5.97%
1999 5%
1998 6.11%
1997 2.64%
1996 1.25%
1995 8.36%
1994 5.9%
1993 0.7%
1992 9.4%
1991 0.74%
1990 7.4%
1989 7.95%
1988 8.65%
1987 7.07%
1986 3.7%
1985 4.88%
1984 8.76%
1983 5.58%
1982 6.02%
1981 2.52%
1980 5.75%
1979 9.91%
1978 7.78%
1977 16.36%
1976 20.27%
Cyprus GDP Annual Growth Rate : Definition
GDP Annual Growth Rate measures the yearly percentage change in Cyprus' total economic output.
Indicator Last Value Prior Value Period
GDP $36.33B $33.89B 2024
GDP per Capita $32,998.67 $32,340.84 2024
GDP per Capita PPP $53,252.46 $52,190.88 2024
R&D Expenditure (% GDP) 0.75% 0.8% 2022
Real GDP $31.02B $29.98B 2024