Cyprus Growth Rate Affirmed at 3.9% in Q2 2017


Τhe GDP growth rate in real terms during the second quarter of 2018 is positive and estimated at +3.9% over the corresponding quarter of 2017. Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at +3.9%, according to data released by the Statistical Service of Cyprus.

The increase of the GDP growth rate is mainly attributed to the sectors: "Hotels and Restaurants", "Retail and Wholesale Trade", "Construction", "Manufacturing", "Professional, scientific and technical activities" and "Administrative and support service activities". Negative growth rate was recorded by the sector "Financial and Insurance Activities". 

Furthermore, a rebase of the reference year (2010 from 2005) was carried out for the production of volume measures, as well as the application of the non-additivity approach in the chain-linking method for the time series q1 1995 – q2 2018.