Markets Actual Q3 Q4 Q1 Q2 2022
Currency 1.17 1.17 1.16 1.16 1.15 1.14
Stock Market (points) 67.33 65.7 64.11 62.56 61.05 58.13

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 0.20 1.5 0.6 0.7 0.7 0.5
GDP Annual Growth Rate (%) 12.90 5.3 3.3 2.8 2 2.8
Unemployment Rate (%) 5.20 6 5.9 6.2 6.3 6.5
Inflation Rate (%) 5.04 3.5 3.8 2 2.1 1.1
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Thousand) -455520.00 -528000 -525000 -525000 -525000 -525000
Current Account (EUR Million) -922.00 -920 -870 -870 -870 -870
Current Account to GDP (% of GDP) -11.90 -8.6 -8.6 -6.5 -6.5 -6.5
Government Debt to GDP (% of GDP) 118.20 107 107 107 107 108
Government Budget (% of GDP) -5.70 -3.3 -3.3 -1 -1 -1
Business Confidence (points) 104.90 105 108 108 108 110
Consumer Confidence (points) -19.60 -17 -18 -18 -18 -7
Corporate Tax Rate (%) 12.50 12.5 12.5 12.5 12.5 12.5
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 0.20 1.5 0.6 0.7 0.7 0.5
GDP Annual Growth Rate (%) 12.90 5.3 3.3 2.8 2 2.8
GDP (USD Billion) 23.80 23.5 23.5 23.5 23.5 24.8
GDP Constant Prices (EUR Million) 5323.50 5441 5397 5480 5430 5548
Gross National Product (EUR Million) 21000.31 23468 22896 21588 21420 22301
Gross Fixed Capital Formation (EUR Million) 1058.90 1102 1283 1273 1080 1319
GDP per capita (USD) 30438.47 31500 31500 31500 31500 32200
GDP per capita PPP (USD) 37655.18 39100 39100 39100 39100 34000
GDP From Agriculture (EUR Million) 88.00 92.24 89.87 88.41 89.76 92.39
GDP From Construction (EUR Million) 355.80 379 370 364 363 380
GDP From Manufacturing (EUR Million) 296.66 292 287 287 303 295
GDP From Mining (EUR Million) 353.00 344 344 341 360 354
GDP From Public Administration (EUR Million) 996.02 1034 1014 1013 1016 1043
GDP From Services (EUR Million) 1081.90 1053 1099 1164 1104 1130

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 5.20 6 5.9 6.2 6.3 6.5
Employed Persons (Thousand) 417.40 379 379 379 379 379
Labour Costs (points) 102.32 95.86 119 102 104 121
Wages (EUR/Month) 1880.00 1937 2386 1908 1908 2344
Population (Million) 0.89 0.89 0.89 0.89 0.89 0.9
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) -3.30 1.2 1.5 1.5 1.5 2

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 5.04 3.5 3.8 2 2.1 1.1
Consumer Price Index CPI (points) 104.09 103 104 103 105 105
Harmonised Consumer Prices (points) 103.86 104 107 107 107 107
Food Inflation (%) 4.02 2.1 1.8 1.3 1.3 1.6
CPI Transportation (points) 104.65 96.63 96.82 99.84 103 97.89

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 0.00 0 0 0 0 0

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (EUR Thousand) -455520.00 -528000 -525000 -525000 -525000 -525000
Current Account (EUR Million) -922.00 -920 -870 -870 -870 -870
Current Account to GDP (% of GDP) -11.90 -8.6 -8.6 -6.5 -6.5 -6.5
Imports (EUR Thousand) 769025.00 766000 787000 787000 787000 787000
Exports (EUR Thousand) 313505.00 238000 262000 262000 262000 262000
Tourist Arrivals (Persons) 321858.00 460000 82000 82000 82000 115000

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 118.20 107 107 107 107 108
Government Budget (% of GDP) -5.70 -3.3 -3.3 -1 -1 -1
Government Budget Value (EUR Million) -187.90 306 352 352 352 352
Government Spending (EUR Million) 1198.40 1146 1147 1187 1222 1179
Government Spending to GDP (% of GDP) 46.30 46.2 46.2 46.2 46.2 42

Taxes Actual Q3 Q4 Q1 Q2 2022
Corporate Tax Rate (%) 12.50 12.5 12.5 12.5 12.5 12.5
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
Sales Tax Rate (%) 19.00 19 19 19 19 19
Social Security Rate (%) 16.60 15.6 15.6 15.6 15.6 15.6
Social Security Rate For Companies (%) 8.30 7.8 7.8 7.8 7.8 7.8
Social Security Rate For Employees (%) 8.30 7.8 7.8 7.8 7.8 7.8

Business Actual Q3 Q4 Q1 Q2 2022
Business Confidence (points) 104.90 105 108 108 108 110
Industrial Production (%) 4.60 3.2 1.2 1.2 1.5 0.9

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) -19.60 -17 -18 -18 -18 -7
Retail Sales YoY (%) 5.40 3.2 2.1 1.8 1.5 1.2
Consumer Spending (EUR Million) 3516.00 3832 3520 3843 3586 3618
Gasoline Prices (USD/Liter) 1.53 1.45 1.38 1.31 1.25 1.18

Housing Actual Q3 Q4 Q1 Q2 2022
Construction Output (%) 4.00 3.5 5 5 5 5


This page has economic forecasts for Cyprus including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Cyprus economy.