articles | 13 June 2017

Economy exhibits growth in most sectors

For an eighth consecutive quarter, the economy is exhibiting a positive growth rate at 3.3%, with most sectors showing growth compared to the previous six-month period.

Meanwhile, according to the Cyprus Statistical Service, the GDP during the first quarter of 2017 was €4.0 billion, an increase of 3.3% compared to the same quarter last year (€ 3.9 billion).

The increase in the GDP growth rate is mainly attributed to the sectors: Hotels and Restaurants, Professional, Scientific and Technical Activities, Retail and Wholesale Trade, Manufacturing, and Construction. A negative growth rate was recorded by the sector Financial Service Activities.

Source: InCyprus

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