Cyprus GDP reached 17.2 million euro in 2008

Cyprus Gross Domestic Product (GDP) for 2008 is expected to reach 17.247,8 million Euro at current prices from 15.879,1 million Euro in 2007, according to estimations of the Statistical Service of the Republic of Cyprus.

At constant prices of 2005, GDP is estimated to reach 15.269,9 million Euro in 2008 from 14.736,7 million Euro in 2007.

The growth rate in real terms is estimated to reach 3.6% in 2008, compared to 5.1% in 2007. Analytical data by sector is presented in the National Accounts tables.

The National Accounts data for the year 2007 has been revised on the basis of the final results from the economic surveys for the reference year, while the revised data for the year 2008 is based on the most recently available indices.

Furthermore, it should be noted that the revision of national accounts data series 1995-2008 in constant prices is due to its re-calculation with new reference-base year (2005), using the chain-linking method, as required by Eurostat.

Finally, the revised annual data will be incorporated in the forthcoming release of quarterly national accounts that will be announced on November 13, 2009.