Cyprus` GDP increased by 0.4% in the second quarter of 2011, compared with Q1, whereas Euro area GDP and EU27 increased by 0.2%.

According to Eurostat`s second estimates for Q2, released today, the Cypriot GDP grew by 0.4% in Q2 compared with zero growth in Q1 of 2011.

On the other hand, the Euro area and EU 27 GDP decelerated since it increased only by 0.2% compared to the Q1 GDP rise of 0.8% and 0.7% in the Euro area and the EU27 respectively.

On yearly basis (second quarter 2010), Cyprus GDP increased by 1.4%, whereas Euro area GDP rose by 1.6% and EU27 by 1.7%.