| GDP remained unchanged in Cyprus during the first quarter of 2011, compared to the previous quarter, while it recorded an increase compared to the same period last year. According to Eurostat, the Statistical Service of the EU, GDP increased by 0.8% in both the euro area (EA17) and the EU271 during the first quarter of 2011, compared with the previous quarter. In Greece GDP also recorded an increase of 0.8%.
In the fourth quarter of 2010, growth rates were +0.3% in the euro area and +0.2% in the EU27. Compared with the first quarter of 2010, seasonally adjusted GDP increased by 2.5% in both the euro area and the EU27, after +1.9% and +2.1% respectively in the previous quarter. During the first quarter of 2011, household final consumption expenditure increased by 0.3% in the euro area and by 0.2% in the EU27 (after +0.3% and +0.2% respectively in the previous quarter). Gross fixed capital formation increased by 2.1% in the euro area and by 1.2% in the EU27 (after 0.0% and -0.2%). Exports grew by 1.8% in the euro area and by 2.2% in the EU27 (after +1.7% in both zones). Imports rose by 1.9% in the euro area and by 1.5% in the EU27 (after +1.3% and +1.6%). |
CYPRUS – GDP – EUROSTAT
