Cyprus’ GDP marked a decrease of 0,7% in the third quarter of 2011, compared with the previous quarter, according to estimates published by Eurostat, the statistical office of the European Union. The decrease is the highest among the countries of the European Union. Compared with the same period of 2010, Cyprus’ GDP decreased by 0,6%.

During the same period, the GDP increased by 0.2% in both the euro area and the EU27. In the second quarter of 2011, growth rates were 0.2% in both zones. Compared with the same quarter of the previous year, the seasonally adjusted GDP increased by 1.4% in both zones in the third quarter of 2011, after +1.6% in the euro area and +1.7% in the EU27 in the previous quarter.

During the third quarter of 2011, the GDP in the United States increased by 0.6% compared with the previous quarter. In Japan GDP grew by 1.5% in the third quarter of 2011.