Cyprus GDP Growth
Annual percentage growth rate of GDP NY.GDP.MKTP.KD.ZG
Cyprus's gdp growth was 2.95% in 2025, ranked 92nd globally. This represents a 25.2% decrease from 2024. Data from World Bank, covering 1976–2025.
Overview
Cyprus's gdp growth stood at 2.95% in 2025, a decline of +0.99pp from 2024. The IMF projects 2.95% by 2025. Cyprus ranked 92nd globally.
Cyprus has experienced significant fluctuations in GDP growth over the past five decades. The island nation's economy witnessed a remarkable peak in 1976, with a growth rate of 20.27%, driven by the expansion of the financial sector and tourism industry. However, the global financial crisis of 2008 led to a substantial decline, with the economy contracting by 6.59% in 2013, marking the all-time trough. Since then, Cyprus has slowly recovered, with the GDP growth rate stabilizing around 2-3% annually. As of 2025, the country's GDP growth rate stands at 2.95%, ranking 92 globally. Compared to its peer countries, such as the Dominican Republic with a growth rate of 2.96%, Cyprus' performance is relatively modest. The country's economic trajectory is expected to remain stable, driven by ongoing growth in the tourism and financial sectors. However, a significant increase in investment in the renewable energy sector could potentially boost Cyprus' GDP growth rate and propel it towards more robust economic expansion.
Data & projection
| Year | GDP Growth | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | 2.97% | - | - |
| 2029* IMF | 3.05% | - | - |
| 2028* IMF | 3.01% | - | - |
| 2027* IMF | 2.84% | - | - |
| 2026* IMF | 2.84% | - | - |
| 2025* IMF | 2.95% | - | - |
| 2025 | 2.95% | −0.99pp | #92 |
| 2024 | 3.94% | +1.18pp | #73 |
| 2023 | 3.62% | −3.59pp | #85 |
| 2022 | 8.27% | −3.11pp | #30 |
| 2021 | 11.40% | +14.62pp | #25 |
| 2020 | -3.22% | −9.10pp | #88 |
| 2019 | 5.88% | −0.40pp | #30 |
| 2018 | 6.27% | +0.52pp | #26 |
| 2017 | 5.75% | −0.82pp | #35 |
| 2016 | 6.57% | +3.16pp | #29 |
| 2015 | 3.42% | +5.19pp | #86 |
| 2014 | -1.78% | +4.81pp | #201 |
| 2013 | -6.59% | −3.14pp | #207 |
| 2012 | -3.45% | −3.87pp | #198 |
| 2011 | 0.42% | −1.87pp | #179 |
Detected Pattern
Analysis
Cyprus matched the Export Boom Cycle pattern in 1994. Historically, 71% of countries showing this pattern (546 out of 768) saw gdp growth improve within 24 months. View full analysis →
Cyprus has demonstrated strong economic resilience, with its economy growing by 25.8% in real terms between 2019 and 2024, positioning it among the EU’s strongest economies for post-pandemic GDP growth. This robust expansion provides a positive backdrop for the current 2.95% GDP growth, although persistent high energy prices are identified as a significant threat to households, industry, and the wider economy, potentially impacting future growth trajectories.
Frequently Asked Questions
Cyprus's gdp growth was 2.95% in 2025. Ranked 92nd globally. This represents a 25.2% decrease from the previous year.
Cyprus's gdp growth peaked at 20.27% in 1976.
The lowest gdp growth in Cyprus was -6.59% in 2013.
Cyprus ranks 92nd globally in gdp growth as of 2025.
The World Bank indicator code is NY.GDP.MKTP.KD.ZG. Data sourced from World Bank.
Cyprus's gdp growth is projected to reach 2.95% by 2025 based on IMF projection.
The gdp growth of Cyprus in 2025 was 2.95%. This ranks 92nd in the world.
Cite this page
@misc{historysaid_cyprus_gdp-growth,
title = {Cyprus GDP Growth},
url = {https://historysaid.com/cyprus/gdp-growth/},
publisher = {HistorySaid},
year = {2026}
}