Economic Indicators of Cy: Growth Rate, Job Market, Retail Sales
In the first half of 2025, the European Union (EU) and Cyprus have shown signs of economic recovery. Let's take a closer look at the latest economic indicators.
The volume and value indices for the EU have seen significant growth. For the period January-July 2025, the Volume Index rose by 7.2% compared to the same period in 2024, while the Value Index increased by 6.4%.
In Cyprus, the economy expanded by 3.3% in the second quarter of 2025 compared to the same period last year. GDP in volume reached €7.38 billion at the end of the second quarter, with the services sector, including wholesale and retail trade, accommodation and food services, and transport, accounting for €1.57 billion.
The Cypriot economy's retail sector also experienced growth. In July 2025, the Retail Trade Turnover Value Index in Cyprus rose by 5.2% compared to the same month in the previous year, and the Retail Trade Turnover Volume Index recorded an increase of 8.7% year-on-year. The largest growth in the Retail Trade Volume Index was seen in Food, Beverages and Tobacco in specialized stores, up by 19.8%.
Unemployment rates in the EU and Cyprus have shown some variation. In July 2025, the unemployment rate among men in the EU was 5.8%, while it remained stable at 4.5% among men in Cyprus. For women, the unemployment rate increased to 5.6% in the EU, and stood at 5% in Cyprus.
However, youth unemployment remains a concern in the EU. In July 2025, 2.8 million young people under 25 were unemployed. Unfortunately, Cyprus's youth unemployment figures for July were not available, as the country reports such statistics on a quarterly basis.
Imports and exports have also seen growth. Imports increased 6.8% to €7.7 billion in the second quarter of 2025, while exports of goods and services rose 5.5% year-on-year to €8 billion.
It's important to note that specific data on which companies or sectors contribute most to the growth rate of Cyprus's trade sector in 2025 were not available in the provided search results.
In conclusion, the EU and Cyprus have shown positive economic growth in the first half of 2025, with the retail sector and services sector playing significant roles in Cyprus's economy. However, youth unemployment remains a challenge in the EU. For more detailed data and analysis, please refer to the official statistics from Eurostat and the Statistical Service of Cyprus.
