articles | 18 August 2022

Cyprus records 6.1% growth in the second quarter of 2022, preliminary estimate

Cyprus’ economy recorded positive growth in the second quarter of 2022, according to a preliminary estimate by the island’s Statistical Service.

As announced on Wednesday, the growth rate of the economy in the second quarter of 2022 is estimated at 5.8%, compared to the corresponding quarter of 2021.

It is noted that, after the correction of GDP in terms of seasonal fluctuations and working days, the growth rate is estimated at 6.1%.

The Statistical Service data attributed the positive GDP growth rate mainly to the sectors of hotels and restaurants, transport and storage, information and communications, wholesale and retail trade, repairs of motor vehicles, arts and entertainment, and other service activities.

Source: Cyprus Mail

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