Cyprus Economic Statistics and Indicators

21, Feb 2018, EST. Welcome to the Cyprus economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Cyprus › Change country
National or Regional Currency: Euro, EUR
Year of data: 2015 › Change year
Number of Indicators Listed: 38
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 1,172,458 (July 2014 est.)
Area: total: 9,251 sq km (of which 3,355 sq km are in north Cyprus) ; land: 9,241 sq km ; water: 10 sq km
Natural Resources: copper, pyrites, asbestos, gypsum, timber, salt, marble, clay earth pigment
Capital: name: Nicosia (Lefkosia/Lefkosa) ; geographic coordinates: 35 10 N, 33 22 E ; time difference: UTC+2 (7 hours ahead of Washington, DC, during Standard Time) ; daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October

The area of the Republic of Cyprus under government control has a market economy dominated by the service sector, which accounts for four-fifths of GDP. Tourism, financial services, and real estate have traditionally been the most important sectors. Cyprus has been a member of the European Union (EU) since May 2004 and adopted the euro as its national currency in January 2008. During the first five years of EU membership, the Cyprus economy grew at an average rate of about 4%, with unemployment between 2004 and 2008 averaging about 3%. An overextended banking sector with excessive exposure to Greek debt resulted in a contraction in economic growth. Two of Cyprus' biggest banks were among the largest holders of Greek bonds in Europe and had a substantial presence in Greece through bank branches and subsidiaries. Following numerous downgrades of its credit rating, Cyprus lost access to international capital markets in May 2011. The economy contracted by an accumulated 8.2% between 2009 and 2013 and is not expected to return to positive growth before 2015. Unemployment is currently over 17% and expected to reach 19% in 2014. In July 2012, Cyprus became the fifth eurozone government to request an economic bailout program from the European Commission, European Central Bank and the International Monetary Fund - known collectively as the "Troika". Shortly after the election of President Nicos ANASTASIADES in February 2013, Cyprus faced an economic crisis and agreed with the Troika to a $13 billion bailout that included losses on uninsured bank deposits. The bailout triggered a two-week bank closure and the imposition of capital controls, some of which remained in place through 2014. Cyprus' two largest banks merged and the combined entity was recapitalized through conversion of some large bank deposits to shares and imposition of losses on some bank bondholders. The Troika conditioned the bailout on progress in financial and structural reforms and privatization of state-owned enterprises. Cyprus has downsized and restructured its banking sector significantly. Three positive reviews by the Troika since May 2013 indicate that Cyprus’ bailout program is on track with a fourth review scheduled in May 2014. In October 2013, Cyprus completed preliminary appraisal of hydrocarbon deposits in its territorial waters, which revealed less than anticipated natural gas reserves. Additional exploration drilling is likely to continue in 2014-2015.
More on the Cyprus Economy
More on the Cyprus Export, Import and Trade

Economic Indicator Listing
  For Cyprus in year 2015 Indicator Value
GDP Growth (Constant Prices, National Currency) 1.588 %
GDP (Current Prices, National Currency)EUR 17.421 Billion.
GDP (Current Prices, US Dollars)US$ 19.33 Billion
GDP Deflator 114.791 (Index, Base Year as per country's accounts = 100)
GDP Per Capita (Constant Prices, National Currency)EUR 17,733.05 .
GDP Per Capita (Current Prices, National Currency)EUR 20,355.97 .
GDP Per Capita (Current Prices, US Dollars)US$ 22,587.49
Output Gap, Percent of Potential GDP -2.8 %
GDP (PPP), US DollarsUS$ 28.058 Billion
GDP Per Capita (PPP), US DollarsUS$ 32,785.46
GDP Share of World Total (PPP) 0.025 %
Implied PPP Conversion Rate 0.621
Investment (% of GDP) 15.381 %
Gross National Savings (% of GDP) 10.247 %
Inflation, Average Consumer Prices (Indexed to Year 2000) 100 (Index, Base Year 2000 = 100)
Inflation (Average Consumer Price Change %) -1.54 %
Inflation, End of Year (Indexed to Year 2000) 99.67 (Index, Base Year 2000 = 100)
Inflation (End of Year Change %) -0.449 %
Import Volume of All Items Including Goods and Services (Percent Change) 4.021 %
Import Volumes of Goods Only (Percent Change) 3.575 %
Export Volume of All Items Including Goods and Services (Percent Change) 1.908 %
Export Volumes of Goods Only (Percent Change) -12.091 %
Unemployment Rate (% of Labour Force) 15.322 %
Employment 0.365 Million
Population 0.856 Million
General government revenue (National Currency)EUR 6.894 Billions.
General government revenue (% of GDP) 39.574 %
General government total expenditure (National Currency)EUR 7.186 Billions.
General government total expenditure (% of GDP) 41.248 %
Total Government Net Lending/ Borrowing (National Currency)EUR -0.292 Billions.
Total Government Net Lending/ Borrowing (% of GDP) -1.674 %
Fiscal Year Gross Domestic Product, Current PricesEUR 17.421 Billions.
Current Account Balance (US Dollars)US$ -0.992 Billion
Current Account Balance (% GDP) -5.134 %
Economic Indicators for Cyprus 2015

GDP (Constant Prices, National Currency) for Cyprus in year 2015 is EUR 15.176 Billion.

GDP Growth (Constant Prices, National Currency) for Cyprus in year 2015 is 1.588 %.

GDP (Current Prices, National Currency) for Cyprus in year 2015 is EUR 17.421 Billion.

GDP (Current Prices, US Dollars) for Cyprus in year 2015 is US$ 19.33 Billion.

GDP Deflator for Cyprus in year 2015 is 114.791 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Cyprus in year 2015 is EUR 17,733.05 .

GDP Per Capita (Current Prices, National Currency) for Cyprus in year 2015 is EUR 20,355.97 .

GDP Per Capita (Current Prices, US Dollars) for Cyprus in year 2015 is US$ 22,587.49 .

Output Gap, Percent of Potential GDP for Cyprus in year 2015 is -2.8 %.

GDP (PPP), US Dollars for Cyprus in year 2015 is US$ 28.058 Billion.

GDP Per Capita (PPP), US Dollars for Cyprus in year 2015 is US$ 32,785.46 .

GDP Share of World Total (PPP) for Cyprus in year 2015 is 0.025 %.

Implied PPP Conversion Rate for Cyprus in year 2015 is 0.621 .

Investment (% of GDP) for Cyprus in year 2015 is 15.381 %.

Gross National Savings (% of GDP) for Cyprus in year 2015 is 10.247 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Cyprus in year 2015 is 100 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Cyprus in year 2015 is -1.54 %.

Inflation, End of Year (Indexed to Year 2000) for Cyprus in year 2015 is 99.67 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Cyprus in year 2015 is -0.449 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Cyprus in year 2015 is 4.021 %.

Import Volumes of Goods Only (Percent Change) for Cyprus in year 2015 is 3.575 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Cyprus in year 2015 is 1.908 %.

Export Volumes of Goods Only (Percent Change) for Cyprus in year 2015 is -12.091 %.

Unemployment Rate (% of Labour Force) for Cyprus in year 2015 is 15.322 %.

Employment for Cyprus in year 2015 is 0.365 Million .

Population for Cyprus in year 2015 is 0.856 Million .

General government revenue (National Currency) for Cyprus in year 2015 is EUR 6.894 Billions.

General government revenue (% of GDP) for Cyprus in year 2015 is 39.574 %.

General government total expenditure (National Currency) for Cyprus in year 2015 is EUR 7.186 Billions.

General government total expenditure (% of GDP) for Cyprus in year 2015 is 41.248 %.

Total Government Net Lending/ Borrowing (National Currency) for Cyprus in year 2015 is EUR -0.292 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Cyprus in year 2015 is -1.674 %.

Fiscal Year Gross Domestic Product, Current Prices for Cyprus in year 2015 is EUR 17.421 Billions.

Current Account Balance (US Dollars) for Cyprus in year 2015 is US$ -0.992 Billion.

Current Account Balance (% GDP) for Cyprus in year 2015 is -5.134 %.

* Source: IMF
Aggregate Indicators for Cyprus
Indicators
  Geography (Location, geographic coordinates, map references, area, terrain, elevation extremes, borders, coastline and maritime claims) for Cyprus
  Climate and Environment (climate, environmental issues, environmental agreements, natural hazards) for Cyprus
  Natural Resources, Agricultural Products, Land Use and Water Use for Cyprus
  Nationality, Ethnic Groups, Languages and Religions for Cyprus
  Telephone Statistics: Number of Fixed Lines, Mobile Phone Penetration Rate for Cyprus
  Age Structure, Median Age, Gender and Urbanization for Cyprus
  Population Growth Rate, Birth Rate, Death Rate, Net Migration Rate for Cyprus
  Life Expectancy Rate, Infant Mortality Rate and Total Fertility Rate for Cyprus
  HIV, AIDS and Other Major Infectious Disease Rates for Cyprus
  Literacy Rate, Educational Expenditure and School Life Expectancy for Cyprus
  Gross Domestic Product (PPP, Official Exchange Rate, Real Growth Rate and Per Capita) for Cyprus
  Industries and Industrial Growth Production Rate for Cyprus
  Labor Force by Occupation for Cyprus
  Poverty Line, Gini Index, Household Income and Consumption for Cyprus
  National Budget and Public Debt for Cyprus
  Bank Rates (Commercial Bank Prime Lending Rate, Central Bank Discount Rate) for Cyprus
  Stock of Money, Stock of Quasi Money, Stock of Domestic Credit for Cyprus
  Stock Market Capitalization: Market Value of Publicly Traded Shares for Cyprus
  Trade Statistics, Export Statistics, Export Partners and Products, Import Statistics, Import Partners and Products for Cyprus
  Foreign Exchange Reserves and Gold Reserves for Cyprus
  FDI Statistics (Foreign Direct Investment at Home/ Inbound FDI, Foreign Direct Investment Abroad/ Outbound FDI) for Cyprus
  Exchange Rate Statistics for Cyprus
  Electricity Production, Electricity Consumption, Electricity Exports and Electricity Imports for Cyprus
  Oil Production, Proven Oil Reserves, Oil Consumption, Oil Exports and Oil Imports for Cyprus
  Natural Gas Production, Proven Natural Gas Reserves, Natural Gas Consumption, Natural Gas Exports and Natural Gas Imports for Cyprus
  Television and Radio Statistics (TV Stats, Radio Stats) for Cyprus
  Internet Statistics (Internet Users, Internet Hosts, Country TLD) for Cyprus
  Airport Statistics (Paved Runway Airports, Unpaved Runway Airports, Heliports) for Cyprus
  Transport Statistics (Railways, Roadways, Waterways, Ports and Terminals, Airports, Merchant Marine) for Cyprus
  Military Statistics (Military Expenditure, Military Branches, Service Age and Obligation, Manpower Available and Fit for Military Service) for Cyprus
  Disputes, Refugees, Human Trafficking and Illicit Drug Production for Cyprus
* Source: CIA
Internet Indicators for Cyprus
Indicators
  Number of Internet Users for Cyprus
  Internet Penetration Rate for Cyprus
  Number of Facebook Accounts for Cyprus
  Facebook Penetration Rate for Cyprus
* Source: IWS
Economic Freedom Indicators for Cyprus
Indicators
  Economic Freedom World Rank for Cyprus
  Government Spending for Cyprus
  Monetary Freedom for Cyprus
  Investment Freedom for Cyprus
  Financial Freedom for Cyprus
  Property Rights for Cyprus
  Economic Freedom Regional Ranking for Cyprus
  Freedom from Corruption for Cyprus
  Labor Freedom for Cyprus
  Tariff Rate for Cyprus
  Income Tax Rate for Cyprus
  Corporate Tax Rate for Cyprus
  Tax Burden % of GDP for Cyprus
  Government Expenditure % of GDP for Cyprus
  Business Freedom for Cyprus
  Trade Freedom for Cyprus
  Fiscal Freedom for Cyprus
  2016 Score for Cyprus
* Source: HFO
Cyprus Economic Indicators in other Years
  Cyprus Economic Indicators for Year 2021 (Forecast)
  Cyprus Economic Indicators for Year 2020 (Forecast)
  Cyprus Economic Indicators for Year 2019 (Forecast)
  Cyprus Economic Indicators for Year 2018 (Forecast)
  Cyprus Economic Indicators for Year 2017 (Forecast)
  Cyprus Economic Indicators for Year 2016 (Forecast)
Cyprus Economic Indicators for Year 2015 (Current)
  Cyprus Economic Indicators for Year 2014
  Cyprus Economic Indicators for Year 2013
  Cyprus Economic Indicators for Year 2012
  Cyprus Economic Indicators for Year 2011
  Cyprus Economic Indicators for Year 2010
  Cyprus Economic Indicators for Year 2009
  Cyprus Economic Indicators for Year 2008
  Cyprus Economic Indicators for Year 2007
  Cyprus Economic Indicators for Year 2006
  Cyprus Economic Indicators for Year 2005
  Cyprus Economic Indicators for Year 2004
  Cyprus Economic Indicators for Year 2003
  Cyprus Economic Indicators for Year 2002
  Cyprus Economic Indicators for Year 2001
  Cyprus Economic Indicators for Year 2000
  Cyprus Economic Indicators for Year 1999
  Cyprus Economic Indicators for Year 1998
  Cyprus Economic Indicators for Year 1997
  Cyprus Economic Indicators for Year 1996
  Cyprus Economic Indicators for Year 1995
  Cyprus Economic Indicators for Year 1994
  Cyprus Economic Indicators for Year 1993
  Cyprus Economic Indicators for Year 1992
  Cyprus Economic Indicators for Year 1991
  Cyprus Economic Indicators for Year 1990
  Cyprus Economic Indicators for Year 1989
  Cyprus Economic Indicators for Year 1988
  Cyprus Economic Indicators for Year 1987
  Cyprus Economic Indicators for Year 1986
  Cyprus Economic Indicators for Year 1985
  Cyprus Economic Indicators for Year 1984
  Cyprus Economic Indicators for Year 1983
  Cyprus Economic Indicators for Year 1982
  Cyprus Economic Indicators for Year 1981
  Cyprus Economic Indicators for Year 1980


Data Sources: IMF, World Bank, UN, OECD, CIA World Factbook, Internet World Statistics, The Heritage Foundation and Transparency International