Cyprus is off to a strong economic start in 2025, with the country’s GDP rising by 1.3% in the first quarter, according to a flash estimate released by Eurostat on Thursday. That’s a notable jump compared to the broader EU and eurozone, which both posted more modest 0.3% gains during the same period.
Quarter-on-Quarter Momentum Builds
This growth follows a quieter end to 2024, when Cyprus recorded just a 0.2% increase in Q4. The upward shift signals improving momentum as the island enters the new year. For comparison:
Q4 2024 GDP:
- Cyprus: +0.2%
- Eurozone: +0.2%
- EU overall: +0.4%
Q1 2025 GDP:
- Cyprus: +1.3%
- Eurozone: +0.3%
- EU overall: +0.3%
Yearly Comparison Shows Stronger Local Growth
Zooming out to the year-on-year figures, Cyprus also posted stronger results than both the eurozone and the EU. The island’s GDP grew by 3.0% in Q1 2025 compared to the same quarter in 2024, showing solid ongoing growth:
Year-on-Year (Q1 2025 vs Q1 2024)
- Cyprus: +3.0%
- Eurozone: +1.2%
- EU: +1.4%
Year-on-Year (Q4 2024 vs Q4 2023)
- Cyprus: +2.9%
- Eurozone: +1.2%
- EU: +1.4%
Big Picture
With GDP rising both quarter-on-quarter and year-on-year, Cyprus is clearly outperforming the broader region so far in 2025. The data highlights a strong start to the year and puts the country in a favorable position compared to its European peers.
Source: Stockwatch.com.cy