Average monthly earnings in Cyprus increased by 5% in the fourth quarter of 2024 compared to the same period in 2023, according to preliminary figures released by the Statistical Service.

Compared to the previous quarter, and after adjusting for seasonal fluctuations, average earnings rose by 1.2%.

>>What Is the Real Salary of the Average Employee in Cyprus?<<

According to the data, the average monthly earnings for Q4 2024 stood at €2,813, up from €2,680 in Q4 2023.

• Men earned an average of €2,979

• Women earned an average of €2,606

When adjusted for seasonal variations, the average monthly salary was €2,532, up from €2,409 in the same quarter of the previous year.

• Seasonally adjusted earnings for men: €2,712

• For women: €2,310

The figures continue to show a notable gender pay gap, with male earnings exceeding those of women by €402 on average, or €373 in seasonally adjusted terms.