Cyprus GDP output loses €1.1 billion in seasonally adjusted terms in 2020 amid Covid crisis

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Cyprus GDP lost €1.1 million in 2020 with economic activity severely affected by the coronavirus pandemic and the ensuing restrictions that impacted economic activity while tourism is taking the heaviest blow. According to new data released by the Statistical Service of Cyprus, the Cypriot economy shrank by 5.1% in 2020 in seasonally adjusted terms over 2019, with only the first quarter recording annual growth as the Covid-19 pandemic in Cyprus began in March. According to Cystat provisional estimates, in current prices, real …

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