Markets Actual Q2 Q3 Q4 Q1 2021
Currency 1.13 1.13 1.13 1.12 1.12 1.11
Stock Market (points) 48.25 46.89 45.88 44.9 43.93 41.99

Overview Actual Q2 Q3 Q4 Q1 2021
GDP Growth Rate (%) -1.30 -15 7 2 1 0.6
GDP Annual Growth Rate (%) 0.80 -1.8 -1.4 -0.9 0.5 1.5
Unemployment Rate (%) 8.90 7.6 8.5 9.3 10.5 8.5
Inflation Rate (%) -1.50 1.4 1.5 1.5 1.6 1.7
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Thousand) -327141.00 -51000 -51000 -528000 -528000 -525000
Current Account (EUR Million) -509.90 -360 -360 -920 -920 -870
Current Account to GDP (%) -6.70 -11 -11 -11 -10.3 -10.3
Government Debt to GDP (%) 95.50 105 105 105 107 107
Government Budget (% of GDP) 1.70 -7.8 -7.8 -7.8 -8.6 -8.6
Business Confidence (points) 76.80 76 77 79 84 88
Consumer Confidence (points) -28.80 -27 -35 -26 -20 -18
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 2021
GDP Growth Rate (%) -1.30 -15 7 2 1 0.6
GDP Annual Growth Rate (%) 0.80 -1.8 -1.4 -0.9 0.5 1.5
GDP (USD Billion) 25.00 26.5 26.5 26.5 28.2 28.2
GDP Constant Prices (EUR Million) 5321.50 5285 5320 5340 5415 5420
Gross National Product (EUR Million) 21943.62 21011 21039 21746 22053 22072
Gross Fixed Capital Formation (EUR Million) 1115.00 1101 1073 993 1007 1008
GDP per capita (USD) 30926.50 31800 31800 31800 32500 32500
GDP per capita PPP (USD) 33047.55 31387 35250 35250 31387 30947
GDP From Agriculture (EUR Million) 102.00 101 101 100 102 102
GDP From Construction (EUR Million) 359.50 373 382 398 404 404
GDP From Manufacturing (EUR Million) 240.36 258 262 263 267 267
GDP From Mining (EUR Million) 313.90 329 336 333 337 338
GDP From Public Administration (EUR Million) 486.38 475 481 483 490 491
GDP From Services (EUR Million) 1144.90 1142 1152 1162 1178 1179

Labour Actual Q2 Q3 Q4 Q1 2021
Unemployment Rate (%) 8.90 7.6 8.5 9.3 10.5 8.5
Employed Persons (Thousand) 416.50 375 379 379 379 379
Labour Costs (points) 117.65 101 96.79 120 120 124
Wages (EUR/Month) 2269.00 1930 1908 2323 2323 2384
Population (Million) 0.88 0.88 0.88 0.88 0.89 0.89
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) 2.90 1.9 1.9 2.4 2.4 2.6

Prices Actual Q2 Q3 Q4 Q1 2021
Inflation Rate (%) -1.50 1.4 1.5 1.5 1.6 1.7
Consumer Price Index CPI (points) 99.69 103 102 103 103 105
Harmonised Consumer Prices (points) 99.52 100 100 104 104 107
Producer Prices (points) 104.30 117 117 122 122 122
CPI Transportation (points) 88.47 101 98.82 99.11 97.3 101
Food Inflation (%) 3.70 2 2 2 2 2

Money Actual Q2 Q3 Q4 Q1 2021
Interest Rate (%) 0.00 0 0 0 0 0

Trade Actual Q2 Q3 Q4 Q1 2021
Balance of Trade (EUR Thousand) -327141.00 -51000 -51000 -528000 -528000 -525000
Current Account (EUR Million) -509.90 -360 -360 -920 -920 -870
Current Account to GDP (%) -6.70 -11 -11 -11 -10.3 -10.3
Imports (EUR Thousand) 632099.00 675000 675000 766000 766000 787000
Exports (EUR Thousand) 304958.00 624000 624000 238000 238000 262000
Tourist Arrivals (Units) 55342.00 124100 124100 141900 141900 141900

Government Actual Q2 Q3 Q4 Q1 2021
Government Debt to GDP (%) 95.50 105 105 105 107 107
Government Budget (% of GDP) 1.70 -7.8 -7.8 -7.8 -8.6 -8.6
Government Budget Value (EUR Million) -277.40 226 226 306 306 352
Government Spending (EUR Million) 984.80 920 962 919 932 933
Government Spending to GDP (%) 39.50 50 50 50 46.2 46.2

Taxes Actual Q2 Q3 Q4 Q1 2021
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 16.6 16.6 16.6 16.6 16.6
Social Security Rate For Companies (%) 8.30 8.3 8.3 8.3 8.3 8.3
Social Security Rate For Employees (%) 8.30 8.3 8.3 8.3 8.3 8.3

Business Actual Q2 Q3 Q4 Q1 2021
Business Confidence (points) 76.80 76 77 79 84 88
Industrial Production (%) -12.70 -11.8 -9 -3 1.7 2.2

Consumer Actual Q2 Q3 Q4 Q1 2021
Consumer Confidence (points) -28.80 -27 -35 -26 -20 -18
Retail Sales YoY (%) -1.40 -6.8 -5.5 -4 2 3.8
Consumer Spending (EUR Million) 3381.20 3354 3337 3359 3406 3409
Gasoline Prices (USD/Liter) 1.06 1.12 1.06 1.01 0.96 0.91

Housing Actual Q2 Q3 Q4 Q1 2021
Construction Output (%) 9.80 -5.5 -12 -10.5 -4 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.