Cyprus Statistical Service

The Cypriot economy registered a robust growth rate of 3.6% in the second quarter of 2024 compared to the same period in 2023, according to figures released on Monday by the Cyprus Statistical Service (CyStat).

After adjusting for seasonal variations and working days, the growth rate is estimated at 3.7%. 

Inflation in Cyprus amounted to 2.2% for the first half of the year on an annual basis, according to the Cyprus Statistical Service (CyStat).

Compared with the previous six months (July-December 2023), however, the consumer price index eased 0.32%, excluding consumption tax increases.

Cyprus saw its trade deficit grow in May, largely due to a significant drop in exports and a slight increase in imports, according to data from the Cyprus Statistical Service (CyStat). The trade deficit for May was 693.4 million euros, up from €578.2 million in May 2023.

Imports in May totaled €1.03 billion, a 3.2% increase from €1 billion in May 2023.

The Cyprus Statistical Service's latest report reveals a significant surge in motor vehicle registrations, marking a 33.5% increase to 17,589 in January-April 2024, compared to 13,180 in the same period of 2023.

Last month the price of olive oil in Cyprus surged by 61.7% compared to March 2023, per the Cyprus Consumers Association. Additionally, passenger transport by bus and coach witnessed a notable increase of 16.5%, according to data compiled in a table by the association, analyzing the consumer price index.

Cyprus' main exports for 2023 included mineral fuels and oil, halloumi and pharmaceutical products, according to the Cyprus Statistical Service (CyStat).

In an infographic published on Tuesday, CyStat shows that Cyprus exported 508.39 million euros of domestically produced goods to EU countries and another €1.84 billion to third countries.

The latest data from the Cyprus Statistical Service (CyStat) reveal a positive shift in the country's economic landscape, with the unemployment rate falling to 5.9% in the fourth quarter of 2023, compared to 6.9% in the same period the previous year.

Cyprus' Harmonized Index of Consumer Prices accelerated slightly to 2.1% year-on-year in January, up from December's annual reading of 1.9%, the Cyprus Statistical Service said on Thursday.

The HICP in January amounted to 112.67 units from 114.09 the month before recording a monthly drop of 1.2%.

The Cyprus Statistical Service (CyStat) revealed on Thursday a significant uptick in motor vehicle registrations in Cyprus.

Total registrations of motor vehicles in Cyprus numbered 4,243 in January, compared to 3,128 in January 2023, recording an increase of 35.6%, according to data published by the CyStat.

An annual increase of 5.78% was recorded in the price index for construction materials for the period January-June 2023 compared to the same period in 2022, according to data published by the Cyprus Statistical Service (CyStat) on Tuesday.

The price index for construction materials for June 2023 reached 135.28 units (base year 2015=100).