GDP growth rate estimated at 5.4% in Q3

Τhe GDP growth rate in real terms during the third quarter of 2022 is positive and is estimated at 5.5% over the corresponding quarter of 2021, the Cyprus Statistical Service said on Thursday.

Based on seasonally and working day adjusted data, GDP growth rate in real terms is estimated at 5.4%.

According to CyStat the positive GDP growth rate is mainly attributed to the sectors "Hotels and Restaurants", " Transport and Storage", "Information and Communication", "Wholesale and Retail Trade, Repair of Motor Vehicles", "Arts, Entertainment and Recreation" and "Other Service Activities".

The GDP growth rate for the first and second quarters of 2022 has been registered at 6.7% and 5.9% respectively.