Cyprus statistics summed up the economic development of the country for the first nine months of 2020 – and it was estimated that the gross domestic product (GDP) of Cyprus amounted to 15.324 billion, a decrease of 820 million euros compared to January-September last year.

The decline was mainly due to sectors particularly affected by the Coronavirus COVID-19 pandemic – trade, hospitality and catering. Their contribution to GDP was €3.008 billion (538 million less than the year before). But the contributions of the public administration sector (2.939 billion) and real estate (1.511 billion) remained stable.