Cyprus recorded 9,152 new enterprises and 5,566 business closures in 2024
Eurostat data show enterprise creation outpaced closures in Cyprus in 2024, with both birth and death rates below EU averages.
Nicosia, Cyprus. Cyprus recorded 9,152 new enterprises in 2024, while 5,566 businesses closed, according to Eurostat data. Enterprise creation outpaced closures on the island during the year.
Cyprus rates below EU averages
Cyprus had an enterprise birth rate of 9.70 per cent, compared with a provisional enterprise death rate of 5.90 per cent.
The figures placed Cyprus below the EU average for business creation, while its enterprise death rate was considerably lower than that of the bloc as a whole.
EU business creation and closures
Across the EU, 3,541,482 enterprises were created in 2024, producing an enterprise birth rate of 10.36 per cent. A provisional 3,143,782 enterprises ceased trading, corresponding to a provisional death rate of 9.20 per cent.
The EU had 34 million enterprises in 2024. In rounded terms, around 3.5 million were created and around 3.1 million ceased operating, resulting in a birth rate of 10.4 per cent and a death rate of 9.2 per cent.
More enterprises were created than dissolved in 19 of the EU’s 27 member states during 2024.
Business demography data
Eurostat published the figures as part of its business demography data, which tracks enterprise creation and closures across the EU.
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