Cyprus GDP Growth Rate

The Gross Domestic Product (GDP) in Cyprus contracted 0.80 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Cyprus is reported by the Statistical Service of the Republic of Cyprus. GDP Growth Rate in Cyprus averaged 0.34 Percent from 2001 until 2013, reaching an all time high of 2 Percent in the first quarter of 2007 and a record low of -1.80 Percent in the second quarter of 2013. Cyprus' division between the internationally recognized government in the south and the Turkish-occupied north has a constant presence in the country's economic matters. Tourism plays an important role in Cyprus' economy. Even so, friendly laws and low taxes for financial companies have made Cyprus an attractive destination to conduct international business in Europe. Cyprus is the fourth-largest ship registry in the world, consisting of an open registry which accounts for ships from more than 43 countries. This page provides - Cyprus GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-20

Actual Previous Highest Lowest Forecast Dates Unit Frequency
-0.80 -0.90 2.00 -1.80 -0.51 | 2014/06 2001 - 2013 Percent Quarterly

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Cyprus GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-09-06 10:00 AM Cyprus
GDP Growth Rate - Final
Q2 2013 -1.8% -1.7% (R) -1.4% -1.4%
2013-11-14 10:00 AM Cyprus
GDP Growth Rate QoQ
Q3 2013 -0.8% -1.8% -1.49%
2014-02-14 10:00 AM Cyprus
GDP Growth Rate QoQ Flash
Q4 2013 -1.0% -1.0% -2.27%
2014-03-11 10:00 AM Cyprus
GDP Growth Rate QoQ Final
Q4 2013 -0.8% -0.9% (R) -1.0% -1.0%
2014-05-15 10:00 AM Cyprus
GDP Growth Rate QoQ Flash
Q1 2014 -0.8% -0.62%
2014-06-06 10:00 AM Cyprus
GDP Growth Rate QoQ Final
Q1 2014 -0.8%
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GDP Last Previous Highest Lowest Forecast Unit
GDP 22.98 2012-12-31 24.69 25.32 0.49 21.53 2014-06-30 USD Billion [+]
GDP Annual Growth Rate -5.10 2013-12-31 -5.20 5.50 -6.10 -5.92 2014-06-30 Percent [+]
GDP per capita 15378.20 2011-12-31 15328.30 24312.90 5986.52 4817.12 2014-06-30 USD [+]
GDP per capita PPP 23475.44 2012-12-31 24686.07 26456.34 11257.08 21955.59 2014-06-30 USD [+]
GDP Growth Rate -0.80 2013-12-31 -0.90 2.00 -1.80 -0.51 2014-06-30 Percent [+]
GDP Constant Prices 3450.20 2013-11-15 3476.30 3815.80 2349.60 3319.18 2014-06-30 EUR Million [+]
Gross Fixed Capital Formation 385.50 2013-11-15 439.90 27662.00 -71492.00 11392.49 2014-06-30 EUR Million [+]
Gross National Product 16503.70 2013-06-30 17720.20 18054.50 6924.70 15657.16 2014-06-30 EUR Million [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Cyprus Tourist Arrivals at 45227.00  
Tourist Arrivals in Cyprus increased to 45227 in February of 2014 from 40675 in January of 2014. Tourist Arrivals in Cyprus is reported by the Statistical Service of the Republic of Cyprus.
Cyprus Unemployed Persons at 71651.00 Thousand  
The number of unemployed persons in Cyprus decreased to 71651 Thousand in the fourth quarter of 2013 from 72660 Thousand in the third quarter of 2013. Unemployed Persons in Cyprus is reported by the Statistical Service of the Republic of Cyprus.
Cyprus Yearly Wage Growth Rate at 2.60 Percent  
Wages in Cyprus increased to 2.60 percent in 2011 from 2.40 percent in 2010. Wages in Cyprus is reported by the Statistical Service of the Republic of Cyprus.
Cyprus Youth Unemployment Rate at 40.50 Percent  
Youth Unemployment Rate in Cyprus decreased to 40.50 percent in December of 2013 from 40.80 percent in November of 2013. Youth Unemployment Rate in Cyprus is reported by the Eurostat.
Cyprus Balance of Trade at -213393.00 EUR Thousand  
Cyprus recorded a trade deficit of 213393 EUR Thousand in February of 2014. Balance of Trade in Cyprus is reported by the Statistical Service of the Republic of Cyprus.
Cyprus Current Account at 184.60 EUR Million  
Cyprus recorded a Current Account surplus of 184.60 EUR Million in the third quarter of 2013. Current Account in Cyprus is reported by the Central Bank of Cyprus.
Cyprus Exports at 106861.00 EUR Thousand  
Exports in Cyprus decreased to 106861 EUR Thousand in February of 2014 from 110791 EUR Thousand in January of 2014. Exports in Cyprus is reported by the Statistical Service of the Republic of Cyprus.
Cyprus Imports at 320254.00 EUR Thousand  
Imports in Cyprus decreased to 320254 EUR Thousand in February of 2014 from 381738 EUR Thousand in January of 2014. Imports in Cyprus is reported by the Statistical Service of the Republic of Cyprus.
Cyprus Industrial Production at -6.62 Percent  
Industrial Production in Cyprus decreased 6.62 percent in January of 2014 over the same month in the previous year. Industrial Production in Cyprus is reported by the Statistical Service of the Republic of Cyprus.
Cyprus Inflation Rate at -2.29 Percent  
The inflation rate in Cyprus was recorded at -2.29 percent in March of 2014. Inflation Rate in Cyprus is reported by the Statistical Service of the Republic of Cyprus.
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