Nicosia: Cyprus's real GDP increased by 2% in 2024 compared with 2023, according to data published today by the European Statistical Office (Eurostat). Cyprus' GDP per capita, expressed in purchasing power standards (PPS), stood at 98.9% of the European Union average.
According to Cyprus News Agency, across the EU, real GDP increased in 169 regions, while 64 regions recorded a decline compared with 2023. The largest rise in real GDP was recorded in Bulgaria's South Central region with an 11.6% increase, followed by Eastern and Midland in Ireland at 8.5%, Bulgaria's North Central region at 8.4%, Malta at 7.0%, and Mayotte, an overseas region of France, at 6.2%.
The largest decline in real GDP was observed in Bulgaria's Southeast region, which saw a 12.7% decrease, followed by Southern Ireland with a 5.5% decline, and La R©union, an overseas region of France, with a 3.7% drop. A 3.6% decrease was also noted in Northwest Ireland and Austria's Carinthia region.
At the regional level, GDP per capita in PPS varied significantly, ranging from 30.1% of the EU average in Mayotte to 268.3% in Eastern and Midland, Ireland. Following the Irish region, Luxembourg recorded a GDP per capita of 244.6% of the EU average, and Southern Ireland reached 216.6%. Other notable regions included Hamburg, Germany with 196.1%, and Prague, Czechia with 191.8%.
At the lower end of the scale, beyond Mayotte, were French Guiana at 40.8% of the EU average, Bulgaria's Northwest region at 41.7%, the North Aegean in Greece at 42.1%, and Bulgaria's North Central region at 43.3%.