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The second highest growth recorded by Cyprus
Sunday, June 12, 2016
 

The second highest growth recorded by Cyprus

The Cypriot GDP grew by 0.9 in Q1 2016

 

 

The seasonally adjusted GDP rose by + 0.9% on a quarterly basis for the first quarter of 2016 in Cyprus and by + 2.7% year over year (YOY) according to an estimate published by Eurostat, the statistical office of the European Union.

 

For the same quarter, the GDP of the euro area grew by 0.6% and by 0.5% in the EU compared with the previous quarter.

In the fourth quarter of 2015, GDP grew by 0.4% and 0.5% respectively.

 

Compared to the same quarter of the previous year, seasonally adjusted GDP rose by 1.7% in the euro area and by 1.8% in the EU28 during the first quarter of 2016, after an increase of + 1.7% and + 2 , 0% respectively in the previous quarter.

 

Decreases were recorded in Hungary (-0.8%), Greece (-0.5%) and Poland (-0.1%), while the GDP of Estonia remained stable. During the first quarter of 2016, the household final consumption expenditure increased by 0.6% in both the euro area and the EU 8 (after an increase of + 0.3% and + 0.4% respectively in the previous quarter).

 

Gross fixed capital formation increased by 0.8% in the euro area and by 0.5% (after + 1.4% and + 1.1% in the previous quarter). Exports increased by 0.4% in both the euro zone and in the EU (after + 0.7% and + 0.8%). Imports increased by 0.7% in the euro area and by 0.9% in the EU (after an increase of + 1.4% in both zones).

 

The household final consumption expenditure contributed positively to GDP growth in both the euro area and the EU (by 0.3 and 0.4 percentage points respectively), as well as gross fixed capital formation (0.2 and 0.1 ). The contribution of net trade to GDP growth was negative for both zones, while the contribution of changes in inventories was positive.


Contact Details

Lefteris Livadhiotis & Sons
50 Nikolaou Rossou St,
P.O.Box 42800
Larnaca 6021
Cyprus

Email: info@LivadhiotisDevelopers.com
Phone: +357 2482 3888
Fax: +357 2462 4222


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