Cyprus GDP Growth Slows to 3.1 Percent in Q3
Cyprus recorded 3.1 percent annual economic growth in the third quarter of 2026, a slight deceleration from the previous quarter's 3.4 percent.
The Cyprus Statistical Service reported that the national economy grew by 3.1 percent annually in the third quarter of 2026. This represents a deceleration from the 3.4 percent growth recorded in the second quarter. On a quarterly basis, the economy expanded by 0.5 percent between July and September, a decrease from the 1.2 percent growth seen in the preceding quarter.
Economic expansion was primarily driven by the construction, financial and insurance, information and communication, and wholesale and retail trade sectors. Construction activity remains a significant driver, with authorized building projects totaling nearly 3 billion euros during the first seven months of 2026.
These preliminary figures follow a credit rating upgrade from Fitch Ratings, which raised the rating of Cyprus from A- to A. The agency cited strong fiscal performance and a decline in public debt as the primary reasons for the upgrade.
