The Gross Domestic Product (GDP) in Cyprus expanded 3.20 percent in the second quarter of 2019 over the same quarter of the previous year. GDP Annual Growth Rate in Cyprus averaged 2.43 percent from 1996 until 2019, reaching an all time high of 6.60 percent in the second quarter of 2000 and a record low of -6.70 percent in the first quarter of 2013. Services including tourism, financial services, and real estate are considered as the backbone of the Cyprus economy, accounting for nearly 80 percent of GDP. Industry accounts for only 10 percent and agriculture for 2 percent. On the expenditure side, household consumption is the main component of GDP and accounts for 70 percent of its total use, followed by government expenditure (16 percent) and gross fixed capital formation (11 percent). Exports of goods and services account for 55 percent of GDP while imports account for 53 percent, adding 2 percent of total GDP. This page provides – Cyprus GDP Annual Growth Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news.