Cyprus's seasonally adjusted GDP rose by 1.3% in the first quarter of 2025 compared to the previous quarter, according to preliminary estimates released Thursday by Eurostat. Over the same period, GDP increased by 0.3% in both the Eurozone and the EU.

In the fourth quarter of 2024, Cyprus’s GDP had grown by 0.2%, matching the Eurozone growth rate, while the EU recorded a slightly higher increase of 0.4%.

Compared to the same quarter in the previous year, Cyprus's seasonally adjusted GDP increased by 3.0% in Q1 2025. In comparison, GDP rose by 1.2% in the Eurozone and 1.4% in the EU.

In the previous quarter (Q4 2024), Cyprus recorded a 2.9% annual growth rate, while the Eurozone and EU reported 1.2% and 1.4% respectively.

Eurostat also included comparative data from the United States. In Q1 2025, the US economy contracted slightly by 0.1% quarter-on-quarter, following a 0.6% increase in Q4 2024. Year-on-year, US GDP grew by 2.0% in Q1 2025, down from 2.5% in the previous quarter.

As for employment, Eurostat data show a 0.3% quarter-on-quarter increase in the Eurozone and 0.2% in the EU during Q1 2025. This followed a 0.1% rise in the Eurozone and 0.2% in the EU in the previous quarter.

On a year-on-year basis, employment rose by 0.8% in the Eurozone and by 0.6% in the EU in Q1 2025, following respective increases of 0.8% and 0.5% in Q4 2024. Employment data by individual EU member states were not included in these estimates.