Cyprus Mail

North’s GDP grew 13.3% in 2022

File Photo: Arasta Street in central northern Nicosia

The north’s gross domestic product (GDP) grew by 13.3 per cent in 2022, according to the north’s statistics agency.

The total GDP stood just shy of 73.9 billion TL (€2.6 billion), which translates to a per capita GDP of US$14,636 (€13,836).

The main driver of growth in the north was the tourism sector, which grew by 41 per cent compared to the previous year and contributed to almost 31 per cent of the north’s GDP.

In addition, import duties increased by 35 per cent and contributed to 8.3 per cent of GDP. The public sector contributed to 11.5 per cent of the north’s GDP.

By comparison, the Republic’s GDP currently stands at US$28.4 billion (€26.8 billion), which translates to US€31,552 (€29,799) per capita.

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