Nicosia, Cyprus. Cyprus recorded real GDP growth of 3.9% year-on-year in 2024, according to regional data released by Eurostat covering economic performance across the European Union. Across the EU, real GDP increased in 169 regions compared with 2023, while 64 regions registered declines.
Cyprus and EU regional results
Cyprus was classified as a single region at this level of detail, placing its 3.9% GDP increase among the stronger performers across the bloc.
Regions with the strongest growth
The strongest growth in the EU was recorded in Yuzhen Tsentralen in Bulgaria, where real GDP expanded by 11.6% in 2024. This was followed by Eastern and Midland in Ireland with growth of 8.5%, and Severen Tsentralen in Bulgaria with an increase of 8.4%.
Malta, also treated as a single region at this level of detail, reported GDP growth of 7.0%, while Mayotte, an overseas region of France, recorded an increase of 6.2%.
Regions with the largest declines
The sharpest contraction in real GDP was observed in Yugoiztochen in Bulgaria, where output fell by 12.7% in 2024. Further declines were recorded in the Southern region of Ireland, where GDP dropped by 5.5%, and in La Réunion, another French overseas region, which saw a contraction of 3.7%.
Northern and Western Ireland and Kärnten in Austria both recorded GDP decreases of 3.6%.
GDP per capita disparities
Eurostat data also showed wide disparities in regional GDP per capita across the EU in 2024 when measured in purchasing power standards.
What do you think Cyprus’s 2024 GDP growth figure indicates about its economic performance within the EU?