Source
Central bank

Central Bank of Cyprus

International Reserves

USD 0.9 billion (2018)

International Monetary Fund (IMF), data retrieved October 2019

Gross Domestic Product - GDP

USD 24.5 billion (2018, estimate)

GDP (Purchasing Power Parity)

Intl$ 34.5 billion (2018, estimate)

Real GDP growth
2014 2015 2016 2017 2018*    
-1.3% 2% 4.8% 4.5% 3.9%    

*Estimate

GDP per capita - current prices

USD 28,339.9 (2018, estimate)

GDP per capita - PPP

Intl$ 39,973.2 (2018, estimate)

GDP (PPP) - share of world total
0.03% (2019, estimate)
 
 
Source
GDP - composition by sector
  • agriculture: 1.7%
  • industry: 12.2%
  • services: 72.6%

(2018 estimate)

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

N/A

 

Inflation
2015 2016 2017 2018* 2019*
-1.5% -1.2% 0.7% 0.8% 0.7%

*Estimate

Unemployment rate
2015 2016 2017 2018* 2019*
14.9% 13% 11.1% 8.4% 7%

*Estimate

Household saving rates

N/A

Public debt (General government gross debt as a % of GDP)
2015 2016 2017 2018* 2019*
108% 105.5% 95.8% 102.5% 96.1%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2015 2016 2017 2018* 2019*
-0.3% 0.3% 1.8% -4.8% 3.6%

*Estimate

Government bond ratings

Standard & Poor's: BBB-

Moody's: Ba2

Standard & Poor's / Moody's 

Market value of publicly traded shares
2016 2017 2018
USD 2.5 billion USD 2.8 billion USD 3.3 billion
Largest companies

N/A

 
 
Source
Current account balance

USD -1.7 billion (2018 estimate)

Current account balance by percentage of GDP

-7.0 % (2018 estimate)

Exports as percent of GDP (Exports of goods and services)

64.3% (2018)

Shares in world total merchandising export

0.03% (2018)

Shares in world total commercial services export

0.20% (2018)

Total exports

USD 16.0 billion (2018 estimate)

Export commodities

Citrus, potatoes, pharmaceuticals, cement, clothing

Total imports

USD 16.4 billion (2018 estimate)

 
 
Source
Import commodities

Consumer goods, petroleum and lubricants, machinery, transport equipment

Exports - major partners

Libya 9.4%, Greece 7.7%, Norway 6.7%, UK 5.3%, Germany 4.1% (2017)

Imports - major partners

Greece 19%, Italy 7.5%, China 7.4%, South Korea 7.3%, Germany 7%, Netherlands 5.1%, UK 5%, Israel 4.1% (2017)

FDI inflows
2016 2017 2018
USD 7,714 million USD 6,950 million USD 3,285 million
FDI outflows
2016 2017 2018
USD 5,719 million USD 1,833 million USD -2,237 million
Value of cross-border M&A, by country of purchaser
2015 2016 2017 2018
USD 968 million USD -1,155 million USD -518 million USD -876 million
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

Cross-border M&A deals worth over $3 billion completed in 2015

N/A

Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking:

54 out of 190 countries

Subcategories:
Starting a Business: 50 out of 190 countries
Dealing with Construction Permits: 125 out of 190 countries
Getting Electricity: 75 out of 190 countries
Registering Property: 71 out of 190 countries
Getting Credit: 80 out of 190 countries
Protecting Minority Investors: 21 out of 190 countries
Paying Taxes: 29 out of 190 countries
Trading across Borders: 50 out of 190 countries
Enforcing Contracts: 142 out of 190 countries
Resolving Insolvency: 31 out of 190 countries

Global competitiveness ranking

44 out of 141 countries (2019)

Index of Economic Freedom

Ranking: 44 / Score: 68.1 (Moderately free)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC+2

Total area

9,251 sq km

Capital

Nicosia (Lefkosia/Lefkosa)

Currency

Euros (EUR)

Government type

Republic of Cyprus - presidential republic; "Turkish Republic of Northern Cyprus" (self-declared) - parliamentary republic with enhanced presidency

Languages

Greek (official) 80.9%, Turkish (official) 0.2%, English 4.1%, Romanian 2.9%, Russian 2.5%, Bulgarian 2.2%, Arabic 1.2%, Filipino 1.1%, other 4.3%, unspecified 0.6% (2011 est.)

Religions

Orthodox Christian 89.1%, Roman Catholic 2.9%, Protestant/Anglican 2%, Muslim 1.8%, Buddhist 1%, other (includes Maronite, Armenian Church, Hindu) 1.4%, unknown 1.1%, none/atheist 0.6% (2011 est.)

Total population
1990 2000 2010 2015 2020*
0.58 million 0.69 million 0.82 million 0.85 million 0.89 million

*Estimate

 
 
Source
Urban population as % of total population
1960 1980 2000 2018
35.6% 58.6% 68.6% 66.8%
Population median age

37.2 years

Population growth rate

1.27% (2018 estimate)

Life expectancy

79 years (2018 estimate)

Literacy

Total population: 99.1% 
Male: 99.5% 
Female: 98.7%
Definition: age 15 and over can read and write (2015 est.)

% of population living on less than $3.10 a day

0% (last available estimate, 2015)

Inequality of wealth distribution (Gini index)

34 (last available estimate, 2015)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Free
Political Rights: 1
Civil Liberties: 1 (2019)
(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed: 26.2% Mobile: 100.9% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

84.43 % (2018)

Mercer Cost of living index

Limassol: 161st (2019)

CO2 emissions

5.26 metric tons per capita (2014)

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