Markets Actual Q1 Q2 Q3 Q4 2020
Currency 1.10 1.11 1.1 1.1 1.1 1.09
Stock Market (points) 67.58 65 64.27 63.56 62.84 61.44
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 0.40 0.8 0.6 0.6 0.4 0.4
GDP Annual Growth Rate (%) 3.40 2.7 2.6 2.8 2.5 2.5
Unemployment Rate (%) 7.70 7.1 7 7 6.9 6
Inflation Rate (%) 0.70 0.9 0.8 1.2 1.3 1.8
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Thousand) -411622.00 31000 -51000 -51000 -528000 -525000
Current Account (EUR Million) -11.90 -360 -360 -360 -920 -870
Current Account to GDP (%) -7.00 -10 -10 -10 -10 -10.6
Government Debt to GDP (%) 102.50 91 91 91 91 87
Government Budget (% of GDP) -4.80 2.7 2.7 2.7 2.7 2.3
Business Confidence (points) 109.20 108 108 107 108 107
Consumer Confidence (points) -6.60 -7.1 -6.9 -7 -6.2 -2.5
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 Q1 Q2 Q3 Q4 2020
GDP Growth Rate (%) 0.40 0.8 0.6 0.6 0.4 0.4
GDP Annual Growth Rate (%) 3.40 2.7 2.6 2.8 2.5 2.5
GDP (USD Billion) 24.47 26.5 26.5 26.5 26.5 28.2
GDP Constant Prices (EUR Million) 5358.90 5222 5257 5409 5493 5630
Gross National Product (EUR Million) 20730.85 20917 20911 20924 21249 21780
Gross Fixed Capital Formation (EUR Million) 1080.40 800 1162 1090 1107 1135
GDP per capita (USD) 30926.50 31800 31800 31800 31800 32500
GDP per capita PPP (USD) 33047.55 35250 35250 35250 35250 35250
GDP From Agriculture (EUR Million) 100.80 83.04 83.11 102 103 106
GDP From Construction (EUR Million) 380.90 328 351 384 390 400
GDP From Manufacturing (EUR Million) 263.55 239 238 266 270 277
GDP From Mining (EUR Million) 337.80 337 333 341 346 355
GDP From Public Administration (EUR Million) 484.97 480 486 489 497 510
GDP From Services (EUR Million) 1171.70 1109 1118 1183 1201 1231
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 7.70 7.1 7 7 6.9 6
Employed Persons (Thousand) 400.80 375 375 379 379 379
Labour Costs (points) 94.98 102 101 96.79 97.26 99.79
Wages (EUR/Month) 1880.00 1933 1916 1916 1925 1975
Population (Million) 0.86 0.88 0.88 0.88 0.88 0.89
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) 3.10 2.1 1.9 1.9 2.4 2.6
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 0.70 0.9 0.8 1.2 1.3 1.8
Consumer Price Index CPI (points) 101.43 102 102 102 103 105
Harmonised Consumer Prices (points) 100.03 100 100 100 104 107
Producer Prices (points) 104.40 117 117 117 122 122
Food Inflation (%) 1.80 2 2 2 2 2
CPI Transportation (points) 97.65 97.07 99.98 98.48 98.92 101
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 0.00 0 0 0 0 0
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (EUR Thousand) -411622.00 31000 -51000 -51000 -528000 -525000
Current Account (EUR Million) -11.90 -360 -360 -360 -920 -870
Current Account to GDP (%) -7.00 -10 -10 -10 -10 -10.6
Imports (EUR Thousand) 648239.00 864000 675000 675000 766000 787000
Exports (EUR Thousand) 236617.00 775000 624000 624000 238000 262000
Tourist Arrivals (Units) 110330.00 124100 124100 124100 141900 141900
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 102.50 91 91 91 91 87
Government Budget (% of GDP) -4.80 2.7 2.7 2.7 2.7 2.3
Government Budget Value (EUR Million) 371.80 226 226 226 306 352
Government Spending (EUR Million) 1008.00 862 907 1017 1033 1059
Government Spending to GDP (%) 44.70 40 40 40 40 39.6
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 (%) 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 Q1 Q2 Q3 Q4 2020
Business Confidence (points) 109.20 108 108 107 108 107
Industrial Production (%) 1.80 2.5 2.2 1.9 1.7 0.8
Consumer Actual Q1 Q2 Q3 Q4 2020
Consumer Confidence (points) -6.60 -7.1 -6.9 -7 -6.2 -2.5
Retail Sales YoY (%) 6.10 4.2 3.8 3 2.5 1
Consumer Spending (EUR Million) 3387.10 3443 3531 3419 3472 3559
Gasoline Prices (USD/Liter) 1.33 1.46 1.5 1.53 1.57 1.57
Housing Actual Q1 Q2 Q3 Q4 2020
Construction Output (%) 10.50 10.8 8.7 7.3 6.5 3.5


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.