Home / Business / Local Business / Cyprus GDP growing faster than eurozone average

Cyprus GDP growing faster than eurozone average

Seasonally-adjusted GDP rose in Cyprus by 0.9% in the second quarter of 2017 compared to the first quarter and by 3.5% compared to the same quarter of 2016.

In the first quarter of 2017, GDP grew by 1.0% and 3.7% respectively, according to an estimate published by Eurostat, the statistical office of the European Union.

Meanwhile, GDP grew by 0.6% in the eurozone (EA19) and by 0.7% in the EU28 during the second quarter of 2017, compared with the previous quarter. In the first quarter of 2017, GDP grew by 0.5% in both areas.

Compared with the same quarter of the previous year, seasonally-adjusted GDP rose by 2.3% in the euro area and by 2.4% in the EU28 in the second quarter of 2017, after +2.0% and +2.1% respectively in the previous quarter.

The Czech Republic (+2.5%), Sweden (+1.7%), Romania (+1.6%) and the Netherlands (+1.5%) recorded the highest growth comp

Check Also

Unemployment rate drops to 10.6% in Q2

The number of people out of work in the second quarter of 2017 was 10.6% …

European Commission team looking at Larnaca Port concerns

The EP Committee on Petitions (PETI) is conducting a fact-finding mission in Larnaca between Wednesday …