Cyprus: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
High Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developed |
| Economic Trivia | The service sector accounts for four-fifths of GDP. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2019): Greece, Italy, and United Kingdom |
| Top Industries Source: CIA World Factbook | Tourism; Food and Beverage Processing; Cement and Gypsum Production; Ship Repair and Refurbishment |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $35,553,070,350 (2020) |
| GDP Growth Rate (annual %) | -5.229% (2020) |
| GDP Per Capita, PPP (current international) | $38,458 (2020) |
GDP Country Rank 128/197 (2020)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | -0.638% (2020) |
| External debt stocks, total (DOD, current US$) | Data unavailable |
| Total tax rate (% of commercial profits) | 22.4% (2019) |
| Real Interest Rate (5 year average %) | 5.706% (2016) |
| Manufacturing, value added (% of GDP) | 5.544% (2020) |
| Current Account Balance (BoP, current US$) | ($2,508,890,138) (2020) |
Labor and Employment [1]
| Labor Force, Total | 639,279 (2020) |
| Employment in Agriculture (% of total employment) | 1.983% (2020) |
| Employment in Industry (% of total employment) | 16.281% (2020) |
| Employment in Services (% of total employment) | 81.736% (2020) |
| Unemployment Rate | 7.21% (2020) |
Trade [1]
| Imports of goods and services (current US$) | $19,335,105,654 (2020) |
| Exports of goods and services (current US$) | $18,711,796,688 (2020) |
| Total Merchandise Trade (% of GDP) | 47.354% (2020) |
| FDI, net inflows (BoP, current US$) | $25,930,367,780 (2019) |
| Commercial Service Exports (current US$) | $15,185,066,425 (2020) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Cyprus’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.