Markets Actual Q2 Q3 Q4 Q1 2023
Currency 1.06 1.04 1.03 1.01 1 0.98
Stock Market (points) 69.10 69.29 67.69 66.14 64.62 61.68

Overview Actual Q2 Q3 Q4 Q1 2023
GDP Growth Rate (%) 1.00 0.6 0.6 0.5 0.5 0.6
GDP Annual Growth Rate (%) 5.60 3.3 3 2.8 2.8 2.8
Unemployment Rate (%) 5.40 6.3 6 6.5 6.5 5.9
Inflation Rate (%) 9.10 8.5 7.8 6.7 5 1.3
Interest Rate (%) 0.00 0 0.75 1.25 1.5 1.75
Balance of Trade (EUR Thousand) -554091.00 -455000 -415000 -360000 -367000 -370000
Current Account (EUR Million) -126.10 -400 -270 -560 -690 -650
Current Account to GDP (% of GDP) -11.90 -6.5 -6.5 -6.5 -6.5 -5.5
Government Debt to GDP (% of GDP) 103.60 107 107 108 108 108
Government Budget (% of GDP) -1.70 -0.5 -0.5 -0.5 -0.3 -0.3
Business Confidence (points) 99.10 97 108 110 110 110
Consumer Confidence (points) -35.40 -38 -7 -5 -5 -5
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 Q2 Q3 Q4 Q1 2023
GDP Growth Rate (%) 1.00 0.6 0.6 0.5 0.5 0.6
GDP Annual Growth Rate (%) 5.60 3.3 3 2.8 2.8 2.8
GDP (USD Billion) 23.80 23.5 23.5 24.8 24.8 24.8
GDP Constant Prices (EUR Million) 5779.00 5756 5838 5870 5941 6034
Gross National Product (EUR Million) 23352.80 21693 21630 24007 24007 24679
Gross Fixed Capital Formation (EUR Million) 1128.50 1074 1016 706 1160 725
GDP per capita (USD) 30438.47 31500 31500 32200 32200 32200
GDP per capita PPP (USD) 37655.18 39100 39100 34000 34000 34000
Full Year GDP Growth (%) 5.51 3.9 3.9 3.9 3.5 3.5
GDP From Agriculture (EUR Million) 93.90 97.62 97.54 97.15 96.53 99.87
GDP From Construction (EUR Million) 350.90 369 369 367 361 378
GDP From Manufacturing (EUR Million) 309.71 318 318 320 318 329
GDP From Mining (EUR Million) 391.30 388 401 391 402 402
GDP From Public Administration (EUR Million) 1034.30 1054 1055 1057 1063 1087
GDP From Services (EUR Million) 1211.90 1169 1194 1208 1246 1242

Labour Actual Q2 Q3 Q4 Q1 2023
Unemployment Rate (%) 5.40 6.3 6 6.5 6.5 5.9
Employed Persons (Thousand) 431.70 379 379 379 379 379
Labour Costs (points) 102.72 103 94.45 120 105 122
Wages (EUR/Month) 2341.00 1906 1959 1976 2388 2436
Population (Million) 0.89 0.89 0.89 0.9 0.9 0.9
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) 3.60 0.8 1.5 2 2 2

Prices Actual Q2 Q3 Q4 Q1 2023
Inflation Rate (%) 9.10 8.5 7.8 6.7 5 1.3
Consumer Price Index CPI (points) 111.37 111 112 112 113 114
Harmonised Consumer Prices (points) 110.06 107 107 107 107 107
Inflation Rate Mom (%) 0.90 1.9 0.44 0.27 0.27 0.27
Food Inflation (%) 8.58 3.8 2.5 1.3 1.3 1.7
CPI Transportation (points) 120.11 122 123 123 124 124

Money Actual Q2 Q3 Q4 Q1 2023
Interest Rate (%) 0.00 0 0.75 1.25 1.5 1.75

Trade Actual Q2 Q3 Q4 Q1 2023
Balance of Trade (EUR Thousand) -554091.00 -455000 -415000 -360000 -367000 -370000
Current Account (EUR Million) -126.10 -400 -270 -560 -690 -650
Current Account to GDP (% of GDP) -11.90 -6.5 -6.5 -6.5 -6.5 -5.5
Imports (EUR Thousand) 837982.00 815000 800000 780000 789000 795000
Exports (EUR Thousand) 283891.00 360000 385000 420000 422000 425000
Tourist Arrivals 289335.00 82000 82000 115000 115000 115000

Government Actual Q2 Q3 Q4 Q1 2023
Government Debt to GDP (% of GDP) 103.60 107 107 108 108 108
Government Budget (% of GDP) -1.70 -0.5 -0.5 -0.5 -0.3 -0.3
Government Budget Value (EUR Million) 239.30 352 352 352 352 352
Government Spending (EUR Million) 1186.30 1244 1206 1206 1220 1240
Government Spending to GDP (% of GDP) 46.30 46.2 46.2 42 42 42

Taxes Actual Q2 Q3 Q4 Q1 2023
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 Q2 Q3 Q4 Q1 2023
Business Confidence (points) 99.10 97 108 110 110 110
Industrial Production (%) 6.90 1.5 1.5 0.9 0.85 0.9
Manufacturing Production (%) 2.20 3.69 3.71 3.69 3.72 3.75
Mining Production (%) -7.80 29.76 29.98 29.86 29.87 29.89

Consumer Actual Q2 Q3 Q4 Q1 2023
Consumer Confidence (points) -35.40 -38 -7 -5 -5 -5
Retail Sales YoY (%) -1.90 1.8 0.5 0.7 0.7 0.7
Consumer Spending (EUR Million) 3260.10 3366 3768 3655 3351 3757
Gasoline Prices (USD/Liter) 1.60 1.66 1.72 1.78 1.84 1.84

Housing Actual Q2 Q3 Q4 Q1 2023
Construction Output (%) -5.50 5 5 5 5 5


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Cyprus Forecast - was last updated on Saturday, June 25, 2022.