Admirably enough, the economy of Cyprus expanded 5.4 percent year-on-year in the third quarter of 2022, following an upwardly revised 6.3 percent rise in the previous period, according to Eurostat.
And on a quarterly basis, GDP advanced 1.3 percent compared to a downwardly revised 0.3 percent growth in the previous period.
The latest EU statistical office data also shows that in the third quarter of 2022, seasonally adjusted GDP increased by 0.2% in both the euro area and the EU, compared with the previous quarter.
And in the second quarter of 2022, GDP had grown by 0.8% in the euro area and by 0.7% in the EU.
The latest figures mark the sixth consecutive quarter of growth in Cyprus since the contraction Q1 2021.
It is mainly supported by hotels & restaurants, transport & storage, information & communication, wholesale & retail trade, repair of motor vehicles and arts, entertainment & recreation.
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