In the first quarter of the year 2017 the Cyprus economy grew 3,4% on an annualized basis (3,3%, seasonally adjusted).
Such data are the Statistical Service of Cyprus CyStat. In comparison with the fourth quarter of the year 2016, an increase of 0,6%.
Areas where registered the greatest increase in economic activity - a hotel and restaurant sector, wholesale and retail trade, construction and manufacturing. At the same time, financial intermediaries revenues in the first quarter of the year decreased 2017.
For comparison, in the first quarter of the year 2016 the growth rate of the Cyprus economy amounted to 2,3% year on year and 0,3% - in the quarterly. In general, in 2016, the GDP of Cyprus increased 2,8%.