Cyprus Mail
Business

Economy grows 2.8% in 2016 as per capita income drops 2.4%

Cyprus’s economy expanded 2.8 per cent in 2016, after growing 1.7 per cent in 2015, the statistical service said.

The nominal gross domestic product rose 1.5 per cent last year, to €17.9bn, Cystat said in a statement on its website on Thursday.

As the population grew last year, to 853,100 from 847,700 the year before, per capita income dropped 2.4 per cent in 2016, to €20,233.70, after rising 4.5 per cent, to 20,732.20 in 2015, Cystat said.

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