Eurostat data reveals Cyprus recorded a 3% annual GDP increase in the first quarter of 2026, significantly outperforming the broader Eurozone and European Union, which both experienced minor economic contractions.

Cyprus recorded a 0.2% increase in GDP in the first quarter of 2026 compared with the previous quarter, according to data published on Friday by Eurostat. On a yearly basis, Cyprus’ GDP increased by 3.0% in the first quarter of 2026 compared with the same quarter of 2025.

At European Union level, during the same period, seasonally adjusted GDP decreased by 0.1%, while in the euro area a decrease of 0.2% was recorded on a quarterly basis. This followed a 0.2% increase in both areas in the fourth quarter of 2025.

Across member states, the largest quarterly GDP increases were recorded in Denmark (1.9%), followed by Estonia and Malta (both 1.1%). Declines were recorded in Ireland (-12.1%), Lithuania (-0.3%), Sweden (-0.2%) and France (-0.1%).

At the same time, the number of employed persons increased by 0.2% in Cyprus in the first quarter of 2026 compared with the same quarter of 2025. On a quarterly basis, it increased by 0.1% compared with the fourth quarter of 2025.

Eurostat notes that in the first quarter of 2026, Lithuania (1.8%), Malta (1.0%) and Estonia (0.9%) recorded the largest increases in employment in persons in the EU compared with the previous quarter. The largest decreases were recorded in Romania (-1.0%), Ireland (-0.8%) and Portugal (-0.4%).

Source: CNA(ΚΥΠΕ)