Cyprus GDP grows by 2% in 2024 according to Eurostat

In 2024, Cyprus recorded a 2% increase in real GDP compared to the previous year, with its GDP per capita in purchasing power standards (PPS) reaching 98.9% of the European Union average. According to Eurostat, real GDP increased in 169 EU regions while declining in 64 others. The highest regional growth was documented in Bulgaria's South Central region at 11.6%, followed by Ireland's Eastern and Midland region at 8.5%. Conversely, the largest economic decline occurred in Bulgaria's Southeast region, which fell by 12.7%. Ireland's Eastern and Midland region also led in GDP per capita at 268.3% of the EU average, significantly ahead of Luxembourg and Southern Ireland. At the bottom of the scale, Mayotte in France recorded only 30.1% of the EU average GDP per capita. Other low-ranking regions included French Guiana, Northwest Bulgaria, and the North Aegean in Greece. Additionally, 3.6% decreases were noted in Northwest Ireland and Austria's Carinthia region.