Key Market Indicators
Cypriot Construction Services Revenue is projected to decline to €487 million by 2028, down from €516 million in 2023. This marks an average annual decrease of 0.8%. Since 2013, the Cypriot market has shown modest growth, with an average annual increase of 0.9%. In 2023, Cyprus ranked 30th globally in construction services revenue, with Iceland surpassing it at €516 million. The top three countries in this sector were France, the United Kingdom, and Italy, respectively. Similarly, Cypriot Construction Services Production is expected to fall to €476 million by 2028, from €507 million in 2023, representing an annual decline of 0.9%. Since 2013, the production supply in Cyprus has seen a yearly growth of 0.8%. In the same year, Cyprus also ranked 30th in production, with Latvia overtaking it at €507 million. France, the United Kingdom, and Italy maintained their positions as the second, third, and fourth largest producers, respectively.
