Annual GDP growth in Cyprus
Cyprus: Annual GDP growth was 3.9% in 2024. ◆ Volatile
Annual GDP growth in Cyprus, 2000–2024
Source: World Bank – processed by Our World in Data. Measured in %.
Analysis
In 2024, annual gdp growth in Cyprus stood at 3.9%.
Compared with earlier readings it is up 8.8% on the previous year and up 321.3% over ten years.
Over the whole period, annual gdp growth in Cyprus peaked at 11.4% in 2021 and was at its lowest, -6.6%, in 2013.
Cyprus ranks 78th of 212 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Annual GDP growth in Cyprus, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 6.0% | — |
| 2001 | 4.0% | -33.8% |
| 2002 | 3.7% | -5.8% |
| 2003 | 2.6% | -29.6% |
| 2004 | 5.0% | +92.0% |
| 2005 | 4.8% | -3.6% |
| 2006 | 4.7% | -2.9% |
| 2007 | 5.1% | +8.3% |
| 2008 | 3.6% | -28.4% |
| 2009 | -2.0% | -155.3% |
| 2010 | 2.3% | -212.9% |
| 2011 | 0.4% | -81.6% |
| 2012 | -3.5% | -921.4% |
| 2013 | -6.6% | +91.0% |
| 2014 | -1.8% | -73.0% |
| 2015 | 3.4% | -292.1% |
| 2016 | 6.6% | +92.1% |
| 2017 | 5.8% | -12.5% |
| 2018 | 6.3% | +9.0% |
| 2019 | 5.9% | -6.2% |
| 2020 | -3.2% | -154.8% |
| 2021 | 11.4% | -454.0% |
| 2022 | 8.3% | -27.5% |
| 2023 | 3.6% | -56.2% |
| 2024 | 3.9% | +8.8% |
Cyprus compared with similar countries
- Cyprus's 3.9% is above the median for high income countries, which is 2.1%, 1.8× the median. (83 countries reporting)
- Cyprus's 3.9% is above the median for Europe & Central Asia, which is 2.1%, 1.8× the median. (55 countries reporting)
Biggest year-on-year movements
Years where Annual GDP growth in Cyprus changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2012 | -921.4% | 0.4% | -3.5% |
| 2021 | +454.0% | -3.2% | 11.4% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 3.8% | -2.0% | 6.0% | 10 |
| 2010s | 1.9% | -6.6% | 6.6% | 10 |
| 2020s | 4.8% | -3.2% | 11.4% | 5 |
Countries ranked near Cyprus
More economy & growth data for Cyprus
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.45 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.98 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 1.57 billion BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.038 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita 1,144 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 11.16 billion BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual 122.17 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.2708 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 8,144 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate 41.22 % change on previous year (2025)
Frequently asked questions
- What is annual gdp growth in Cyprus?
- Annual gdp growth in Cyprus was 3.9% in 2024, according to World Bank – processed by Our World in Data.
- What is the highest annual gdp growth recorded in Cyprus?
- The highest recorded value was 11.4% in 2021.
- What is the lowest annual gdp growth recorded in Cyprus?
- The lowest recorded value was -6.6% in 2013.
- How does Cyprus rank for annual gdp growth?
- Cyprus ranks 78th out of 212 countries with data for 2024.
- Is annual gdp growth rising or falling in Cyprus?
- Over the last ten years it is up 321.3%. The long-run trend across the full record is volatile.
- Where does this Cyprus data come from?
- The figures come from World Bank – processed by Our World in Data, published as part of Annual GDP growth. Statizoid updates them automatically from the source API.
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About this data
Annual GDP growth (%).