Markets Actual Q1 Q2 Q3 Q4 2020
Currency 1.14 1.13 1.13 1.12 1.12 1.1
Stock Market (points) 64.18 65.59 64.92 64.26 63.61 62.31
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 0.80 0.6 0.7 1 0.8 0.4
GDP Annual Growth Rate (%) 3.70 3.9 4.2 3.8 3.7 3.2
Unemployment Rate (%) 9.20 8.9 8.5 8.2 7.5 6.5
Inflation Rate (%) 1.70 2 2.1 2.3 2.5 2.5
Interest Rate (%) 0.00 0 0 0.25 0.25 0.75
Balance of Trade (EUR Thousand) -751168.00 -450000 -133000 -404890 -469000 -468000
Current Account (EUR Million) 52.00 -720 15 -74.87 -780 -700
Current Account to GDP (%) -8.40 -9.1 -9.1 -9.1 -9.1 -9.3
Government Debt to GDP (%) 97.50 99 99 99 99 90
Government Budget (% of GDP) 1.80 1.1 1.1 1.1 1.1 1
Business Confidence (Index Points) 117.40 106 105 105 104 103
Consumer Confidence (Index Points) -6.20 -2.1 -1.7 -1.5 -1.1 -0.2
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 Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 0.80 0.6 0.7 1 0.8 0.4
GDP Annual Growth Rate (%) 3.70 3.9 4.2 3.8 3.7 3.2
GDP (USD Billion) 21.65 25 25 25 25 29
GDP Constant Prices (EUR Million) 5076.90 5062 5106 5141 5265 5433
Gross National Product (EUR Million) 19213.76 19464 19483 19457 19925 20562
Gross Fixed Capital Formation (EUR Million) 911.70 455 1090 923 945 976
GDP per capita (USD) 29432.67 29800 29800 29800 29800 30000
GDP per capita PPP (USD) 32415.13 34000 34000 34000 34000 35250
GDP From Agriculture (EUR Million) 85.10 64.63 86.19 86.18 88.25 91.07
GDP From Construction (EUR Million) 306.00 282 291 318 317 327
GDP From Manufacturing (EUR Million) 231.30 212 235 234 240 248
GDP From Mining (EUR Million) 329.90 298 348 342 342 353
GDP From Public Administration (EUR Million) 452.51 389 467 470 469 484
GDP From Services (EUR Million) 1100.10 980 1110 1114 1141 1177
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 9.20 8.9 8.5 8.2 7.5 6.5
Wages (EUR/Month) 1827.00 1834 1891 1892 2160 2170
Population (Million) 0.86 0.86 0.86 0.86 0.86 0.87
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) 3.10 1.17 0.8 0.7 0.93 0.8
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 1.70 2 2.1 2.3 2.5 2.5
Consumer Price Index CPI (Index Points) 100.71 101 104 104 105 107
Harmonised Consumer Prices (Index Points) 99.31 100 104 104 103 105
Producer Prices (Index Points) 102.90 100 100 100 117 122
CPI Transportation (Index Points) 96.52 101 105 105 103 106
Food Inflation (%) 2.90 2 1.7 1.9 2 2
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 0.00 0 0 0.25 0.25 0.75
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (EUR Thousand) -751168.00 -450000 -133000 -404890 -469000 -468000
Current Account (EUR Million) 52.00 -720 15 -74.87 -780 -700
Current Account to GDP (%) -8.40 -9.1 -9.1 -9.1 -9.1 -9.3
Imports (EUR Thousand) 949173.00 736000 591000 736427 744000 766000
Exports (EUR Thousand) 198005.00 286000 458000 331537 275000 298000
Tourist Arrivals 106563.00 154000 424000 466800 124100 141900
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 97.50 99 99 99 99 90
Government Budget (% of GDP) 1.80 1.1 1.1 1.1 1.1 1
Government Budget Value (EUR Million) -18.70 272 68.5 416 226 306
Government Spending (EUR Million) 798.80 693 825 829 828 855
Government Spending to GDP (%) 38.10 38.1 38.1 38.1 38.1 38.1
Taxes Actual Q1 Q2 Q3 Q4 2020
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 (%) 15.60 15.6 15.6 15.6 15.6 15.6
Social Security Rate For Companies (%) 7.80 7.8 7.8 7.8 7.8 7.8
Social Security Rate For Employees (%) 7.80 7.8 7.8 7.8 7.8 7.8
Business Actual Q1 Q2 Q3 Q4 2020
Business Confidence (Index Points) 117.40 106 105 105 104 103
Industrial Production (%) 8.80 5.5 5.2 5.3 5.5 6
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Confidence (Index Points) -6.20 -2.1 -1.7 -1.5 -1.1 -0.2
Retail Sales YoY (%) 2.50 4.8 4.5 4.4 4.2 3.8
Consumer Spending (EUR Million) 3369.90 2872 3398 3413 3495 3606
Gasoline Prices (USD/Liter) 1.28 1.21 1.18 1.15 1.12 1.12
Housing Actual Q1 Q2 Q3 Q4 2020
Construction Output (%) 24.30 2.9 2.8 15.57 2.6 2.7


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.