Economy of Cyprus. Statistics, Data and Indicators
Cyprus
| 36BB+ | Credit rank #80 |
| N/A | Quality of life # |
| 51 | Corruption rank#38 |
| 54 | Ease of doing business#57 |
Cyprus Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 28.44 USD Billion | 2022 |
| GDP Annual Growth Rate | 2.3 % | 2Q/23 |
| GDP Growth Rate | -0.4 % | 2Q/23 |
| GDP per capita | 29638 USD | 2022 |
| Inflation Rate YoY | 2.65 % | Aug/23 |
| Interest Rate | 4.5 % | Sep/23 |
| Unemployment Rate | 6.7 % | Jul/23 |
| Wages | 2217 EUR/Month | 2346.032 USD/Month | 1Q/23 |
| Balance of Trade | -689281 EUR Thousand | -0.729 B USD | Jul/23 |
| Current Account | -1876 EUR Million | -1.985 B USD | 1Q/23 |
| Foreign Exchange Reserves | 1652 EUR Million | 1.748 B USD | Aug/23 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 28.44 USD Billion | 2022 |
| GDP Annual Growth Rate | 2.3 % | 2Q/23 |
| GDP Growth Rate | -0.4 % | 2Q/23 |
| GDP per capita | 29638 USD | 2022 |
| Gross National Product | 24861 EUR Million | 26.308 B USD | 2022 |
| GDP Constant Prices | 6157 EUR Million | 6.515 B USD | 2Q/23 |
| GDP per capita PPP | 43620 USD | 2022 |
| GDP From Agriculture | 94.2 EUR Million | 0.1 B USD | 2Q/23 |
| GDP From Construction | 371 EUR Million | 0.393 B USD | 2Q/23 |
| GDP From Manufacturing | 331 EUR Million | 0.35 B USD | 2Q/23 |
| GDP From Mining | 416 EUR Million | 0.44 B USD | 2Q/23 |
| GDP From Public Administration | 1060 EUR Million | 1.122 B USD | 2Q/23 |
| GDP From Services | 1216 EUR Million | 1.287 B USD | 2Q/23 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 86.5 % | 2022 |
| Government Budget Value | 324 EUR Million | 0.343 USD Billion | 1Q/23 |
| Government Spending | 1206 EUR Million | 1.276 USD Billion | 2Q/23 |
| Government Revenues | 2804 EUR Million | 2.967 USD Billion | 1Q/23 |
| Fiscal Expenditure | 2475 EUR Million | 2.619 B USD | 1Q/23 |
| Government Budget to GDP | 2.1 % | 2022 |
| Government Spending to GDP | 39.8 % | 2022 |
| Military Expenditure | 494 USD Million | 0.494 B USD | 2022 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 116 index points | Aug/23 |
| Food Inflation | 9.95 % | Aug/23 |
| Gasoline Prices | 1.68 USD/Liter | Aug/23 |
| GDP Deflator | 117 index points | 2Q/23 |
| Inflation Rate YoY | 2.65 % | Aug/23 |
| Producer Prices | 137 index points | Jul/23 |
| Inflation Rate Mom | 0.9 % | Aug/23 |
| CPI Housing Utilities | 144 Index Points | Aug/23 |
| CPI Transportation | 121 Index Points | Aug/23 |
| Harmonised Consumer Prices | 117 Index Points | Aug/23 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | -9.1 % | 2022 |
| Balance of Trade | -689281 EUR Thousand | -0.729 USD Billion | Jul/23 |
| Capital Flows | -1210 EUR Million | -1.28 USD Billion | 1Q/23 |
| Current Account | -1876 EUR Million | -1.985 USD Billion | 1Q/23 |
| Exports | 384153 EUR Thousand | 0.407 USD Billion | Jul/23 |
| External Debt | 167703 EUR Million | 177.463 USD Billion | 1Q/23 |
| Foreign Exchange Reserves | 1652 EUR Million | 1.748 USD Billion | Aug/23 |
| Imports | 1073434 EUR Thousand | 1.136 USD Billion | Jul/23 |
| Tourism Revenues | 361500 EUR Thousand | 0.383 B USD | Jun/23 |
| Tourist Arrivals | 511387 Persons | 0.511 Million Persons | Aug/23 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Gold Reserves | 13.9 Tonnes | 2Q/23 |
| Interest Rate | 4.5 % | Sep/23 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Retirement Age Men | 65 | 2022 |
| Retirement Age Women | 65 | 2022 |
| Unemployment Rate | 6.7 % | Jul/23 |
| Wages | 2217 EUR/Month | 2346.032 USD/Month | 1Q/23 |
| Youth Unemployment Rate | 16.4 % | Jun/23 |
| Employed Persons | 450 Thousand Person | 0.45 Million Person | 2022 |
| Employment Change | 0.3 % | 2Q/23 |
| Employment Rate | 74.3 % | 2Q/23 |
| Full Time Employment | 404 Thousand Person | 1Q/23 |
| Job Vacancies | 13405 | 13.405 K | Jul/23 |
| Labor Force Participation Rate | 65.6 % | 1Q/23 |
| Long Term Unemployment Rate | 2 % | 2Q/23 |
| Part Time Employment | 39.4 Thousand Persons | 1Q/23 |
| Unemployed Persons | 29367 Persons | 0.029 Million Persons | 2Q/23 |
| Wage Growth | 7.2 % | 1Q/23 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 12.5 % | 2023 |
| Personal Income Tax Rate | 35 % | 2023 |
| Sales Tax Rate | 19 % | 2023 |
| Social Security Rate | 16.6 % | 2023 |
| Social Security Rate For Companies | 8.3 % | 2023 |
| Social Security Rate For Employees | 8.3 % | 2023 |
Production Indicators
| Indicator | Data | Period |
|---|---|---|
| Electricity Production | 421 GWh | Jun/23 |
| Industrial Production | 1.13 % | Jun/23 |
| Mining Production | 7.82 % | Jun/23 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Business Confidence | 107 index points | Aug/23 |
| Corruption Index | 52 index points | 2022 |
| Corruption Rank | 51 place | 2022 |
| Ease of Doing Business | 54 place | 2019 |
| Manufacturing Production | 3.17 % | Jun/23 |
| Competitiveness Index | 66.39 Index Points | 2019 |
| Competitiveness Rank | 44 | 2019 |
Consumer Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Confidence | -24.1 index points | Aug/23 |
| Retail Sales MoM | 6.2 % | Jul/23 |
| Retail Sales YoY | 8.06 % | Jul/23 |
| Consumer Spending | 3759 EUR Million | 3.978 USD Billion | 2Q/23 |
| Households Debt To Income | 125 % | 2021 |
Housing Market
| Indicator | Data | Period |
|---|---|---|
| Construction Output | 5.5 % | 1Q/23 |
