Nicosia: The growth rate of the economy in 2024 is positive and is estimated at 3.9% in real terms.
According to Cyprus News Agency, regarding the production approach for the estimation of GDP in real terms, the positive growth rate is mainly attributed to the sectors: ‘Information and communication’, “Hotels and Restaurants”, ‘Construction’ and ‘Wholesale and retail trade; repair of motor vehicles and motorcycles’.
At current prices, the percentage change in Gross Domestic Product (GDP) amounts to 7.2%. GDP in real terms in 2024 stood at £29,419.9 billion, while in current prices, GDP was at £34,770.2 billion.