Cyprus’s economy recorded a positive growth rate of 3.9% in real terms for 2024, according to a revised estimate released on Monday by the Statistical Service of Cyprus.

At current prices, the Gross Domestic Product (GDP) showed an annual increase of 7.2%.

According to the Statistical Service, based on the production approach for calculating GDP at constant prices, this positive economic performance was primarily driven by the sectors of Information and Communication, Hotels and Restaurants, Construction, and Wholesale and Retail Trade, including the Repair of Motor Vehicles and Motorcycles.

In real terms, GDP for 2024 was estimated at €29.4199 billion, while at current prices it reached €34.7702 billion.