Cyprus Q2 GDP put at 3.7%

The Statistical Service has produced its first full breakdown of real GDP growth in the second quarter, showing real GDP growth of 3.7% on the back of very strong growth of financial services, as well as tax-induced purchases of cars.
For the first six months of the year, real GDP growth was put at 3.84% over the corresponding period of 2006.
Cystat noted that the indicative indices on the performance of various economic activities during the second quarter of 2007 compared to the corresponding quarter of 2006 were as follows. Production volume index of manufacturing +2.4%, tourists arrivals -3.3%, tourism revenue (Apr-May) +3.1%, building permits in sq.m. (Apr-May) +4.2%, turnover volume index of retail trade +6.7%, turnover value index of post and telecommunications +7.9%, turnover value index of air transport index -9.7%, production volume index of electricity +2.9%, financial intermediation services +25.0%, imports of goods +8.7%, exports of goods +6.6%, registration of motor vehicles +34.4%.