Cyprus GDP Data & Country Report

Cyprus Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Cyprus; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION

Central bank

Central Bank of Cyprus
Cyprus is part of the Eurosystem and the European Central Bank

International Reserves

US$ 1.266 billion (Source: IMF; Data updated: November 2011)

Gross Domestic Product - GDP

US$ 25.022 billion (2010 estimate)

GDP (Purchasing Power Parity)

23.842 billion of International dollars (2010 estimate)

Real GDP growth

2000	2001	2002	2003	2004	2005	2006	2007
5%	4%	2.1%	1.9%	4.2%	3.9%	4.1%	5.1%
2008	2009	2010	2011*
3.6%	-1.7%	1%	1.7%

*Estimate

GDP per capita - current prices

US$ 30,003 (2009 estimate)

GDP per capita - PPP

$28,588 International Dollars (2009 estimate)

GDP (PPP) - share of world total

1980	1990	2000	2010	2015**
0.02%	0.03%	0.03%	0.03%	0.03%

**Forecast

GDP - composition by sector

agriculture: 2.3%
industry: 16.4%
services: 81.3% (2011 estimate)

(Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP)

N/A

(Data released on November 2010)

Inflation

2008	2009	2010	2011*
4.4%(2008)	0.2%	2.6%	3.9%

*Estimate

Unemployment rate

2008	2009	2010	2011*
3.6%	5.3%	6.8%(2009)	6.5%

*Estimate

Household saving rates

N/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)

2007	2008	2009	2010	2011*
58.3%	48.4%	58%	61.7%	63.4%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)

2007	2008	2009	2010*	2011**
3.4%	0.9%	-6.1%	-6%	-5.6%

*Estimate **Forecast

Government bond ratings

Standard & Poor's: A+/Watch Neg/A-1

Moody's rating: Aa3

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares

2007	2008	2009
US$29.479 billion	US$7.955 billion	US$4.993 billion

Largest companies in Cyprus

N/A

DATA ON TRADE AND COMPETITIVENESS

Current account balance

US$ -2.2 billion (2009 estimate)(After 2008)

Current account balance by percentage of GDP

-8.9% of GDP (2009 estimate)(2009)

Exports as percent of GDP

(Exports of goods and services)

47.1% (2008)

(Data released on December 2010)

Shares in world total merchandising export

0.01%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export

0.31%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exports

US$2.232 billion f.o.b. (2010 estimate)

Export commodities

citrus, potatoes, pharmaceuticals, cement, and clothing

Total imports

US$8.689 billion f.o.b. (2008 estimate)

Import commodities

consumer goods, petroleum and lubricants, intermediate goods, machinery, transport equipment

Exports - major partners

Greece 21.1%, UK 14.3%, Germany 6.6% (2007)

Imports - major partners

Greece 17.7%, Italy 10.2%, UK 9.6%, Germany 9.4%, Israel 6.5%, France 5.4%, China 5.3%, Netherlands 4.1% (2007)

FDI inflows

2008	2009	2010
US$4,050 million	US$5,725 million(2009)	US$4,860 million(2009)

FDI outflows

2008	2009	2010
US$4,142 million	US$5,052 million	US$4,220 million

Value of cross-border M&A, by country of purchaser

2008	2009	2010	2011
US$1,725 million	US$1,395 million(2009)	US$-12 million(2009)	US$-2,560 million

Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 37 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 26 out of 183 countries(2009)

Registering property: 66 out of 183 countries

Paying Taxes: 32 out of 183 countries

Getting credit: 72 out of 183 countries

Protecting investors: 93 out of 183 countries

Trading across border: 19 out of 183 countries

Enforcing Contracts: 104 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 18 Score: 73.3 (Mostly Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW

Time zone

UTC+2

Total area

9,251 km² (2006)

Capital

Nicosia (Lefkosia) (2009)

Currency

euros (EUR) (2009)

Government type

republic (2009)

Languages

Greek, Turkish, English

Religions

Greek Orthodox 78%, Muslim 18%, other (includes Maronite and Armenian Apostolic) 4%

Total population

1980	1990	2000	2010*	2015**
0.51 million	0.58 million	0.69 million	0.82 million	0.89 million

*Estimate **Forecast

Urban population as % of total population

1960	1980	2000	2009
35.6%	58.6%	68.6%	70.1%

Population median age

35.0 years (2006)

Population growth rate

1% (2009)

Life expectancy

79 years (2007)

Adult literacy

98% (2000/2007)

% of population living on less than $2 a day

N/A

Inequality of wealth distribution (Gini index)

N/A

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:1
Civil Liberties:1 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

131.27% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population

52.99% (Data were released in 2011 and refer to 2010)

Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

N/A

CO2 emissions
(Metric tons of CO2 per capita)

9.9196 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST DEVELOPED MARKET BANKS

2012:

Bank of Cyprus (National, 2012)

2011:

Bank of Cyprus (National, 2011)

2010:

Bank of Cyprus (National, 2010)

WORLD'S BEST INTERNET BANKS

2011:

COUNTRY WINNERS / Best Consumer Internet Banks Marfin Popular Bank Public (National, 2011)
COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Marfin Popular Bank Public (National, 2011)

2010:

COUNTRY WINNERS / Best Consumer Internet Banks Marfin Popular Bank Public (National, 2010)
COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Hellenic Bank Public Company (National, 2010)

2009:

COUNTRY WINNERS / Best Consumer Internet Banks Marfin Popular Bank Public (National, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2009:

COUNTRY WINNERS Bank of Cyprus (National, 2009)

WORLD'S BEST SUB CUSTODIANS

2011:

COUNTRY WINNERS Marfin Laiki Bank (National, 2011)

2010:

COUNTRY WINNERS Citi (National, 2010)

2009:

COUNTRY WINNERS Marfin Popular Bank (National, 2009)

CENTRAL BANKER REPORT CARD

2010:

Grade: A (Jean-Claude Trichet, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2012:

COUNTRY WINNERS Bank of Cyprus (National, 2012)

2011:

COUNTRY WINNERS Bank of Cyprus (National, 2011)

2010:

COUNTRY WINNERS Bank of Cyprus (National, 2010)

2009:

COUNTRY WINNERS Bank of Cyprus (National, 2009)

ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE

Cyprus GDP Data & Country Report | Global Finance

WORLD'S BEST DEVELOPED MARKET BANKS

2012:

2011:

2010:

WORLD'S BEST INTERNET BANKS

2011:

2010:

2009:

WORLD'S BEST EMERGING MARKET BANKS

2009:

WORLD'S BEST SUB CUSTODIANS

2011:

2010:

2009:

CENTRAL BANKER REPORT CARD

2010:

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2012:

2011:

2010:

2009: