In Business News 13:22 – 14 August 2025
Updated: 13:39 – August 14, 2025
The seasonally adjusted GDP growth rate stands at 3.3% in the second quarter of 2025, according to a preliminary estimate of the Statistical Service published on Thursday.
The GDP growth rate, non-seasonally adjusted, is estimated at 3.6%.
According to the Statistical Service, the positive growth rate of GDP is mainly due to the sectors “Wholesale and Retail Trade, Repair of Motor Vehicles”, “Information and Communications” and “Hotels and Restaurants”.
In a statement, the Ministry of Finance underlines that the growth rate of the Cypriot economy at 3.3% for the 2nd quarter of 2025, according to a preliminary estimate by the Statistical Service, is significantly higher than the European average and confirms the resilience of the Cypriot economy.
According to the preliminary estimate of the Statistical Service published on Thursday, the growth rate of the economy for the 2nd quarter of 2025 is estimated at 3.3% (seasonally adjusted data) compared to the corresponding quarter of 2024, and 0.5% compared to the previous quarter.
According to the corresponding data of the European Statistical Office (Eurostat), Cyprus’ growth rate of 3.3% for the 2nd quarter of 2025 is significantly higher than the European average, which is at 1.4% and 1.5% of the Eurozone and the European Union respectively, the Ministry of Finance said in a statement.
For the 1st half of 2025, the growth rate of the economy is estimated at 3.2%.
As stated by the Ministry of Finance, “these data confirm once again that the Cypriot economy, in a period of increased uncertainty, mainly due to geopolitical developments, continues to record relatively high growth rates”.
It also notes that the maintenance of prudent and disciplined fiscal policy and economic management by the Government, combined with the implementation of the National Recovery and Resilience Plan (RRP) “will contribute to the resilience of the Cypriot economy, so that Cyprus, as a small and open economy, continues to successfully face challenges from the external environment and create the conditions for successful management of internal long-term challenges, such as climate change, energy security and demographic policy”
