Markets Actual Q4 Q1 Q2 Q3 2021
Currency 1.18 1.17 1.17 1.16 1.16 1.15
Stock Market (points) 43.36 42.43 41.52 40.62 39.75 38

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -11.60 2 1 1.5 0.9 0.6
GDP Annual Growth Rate (%) -11.90 -4.9 -2.3 9.5 7.3 3.3
Unemployment Rate (%) 7.40 11 11.5 10.5 10 9.6
Inflation Rate (%) -0.90 0.1 0.5 1 1 1.3
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Thousand) -292318.00 -528000 -528000 -528000 -528000 -525000
Current Account (EUR Million) -182.00 -920 -920 -920 -920 -870
Current Account to GDP (%) -6.70 -11 -10.3 -10.3 -10.3 -10.3
Government Debt to GDP (%) 95.50 105 107 107 107 107
Government Budget (% of GDP) 1.70 -7.8 -8.6 -8.6 -8.6 -8.6
Business Confidence (points) 81.40 90 100 103 105 108
Consumer Confidence (points) -28.90 -30 -20 -16 -17 -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 Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) -11.60 2 1 1.5 0.9 0.6
GDP Annual Growth Rate (%) -11.90 -4.9 -2.3 9.5 7.3 3.3
GDP (USD Billion) 24.56 22 23.5 23.5 23.5 23.5
GDP Constant Prices (EUR Million) 4686.00 5504 5149 5179 5131 5680
Gross National Product (EUR Million) 21943.62 22186 20868 21439 24028 22896
Gross Fixed Capital Formation (EUR Million) 590.65 1641 917 1071 647 1694
GDP per capita (USD) 32093.00 30800 31500 31500 31500 31500
GDP per capita PPP (USD) 39544.70 37200 39100 39100 39100 39100
GDP From Agriculture (EUR Million) 101.60 87.54 96.15 99.56 111 90.34
GDP From Construction (EUR Million) 288.00 355 382 351 315 366
GDP From Manufacturing (EUR Million) 223.85 252 253 235 245 260
GDP From Mining (EUR Million) 285.50 354 318 305 313 365
GDP From Public Administration (EUR Million) 986.95 503 936 963 1081 519
GDP From Services (EUR Million) 771.36 1175 1108 1126 845 1213

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 7.40 11 11.5 10.5 10 9.6
Employed Persons (Thousand) 416.50 379 379 379 379 379
Labour Costs (points) 105.57 105 120 105 105 106
Wages (EUR/Month) 1925.00 2325 2312 1992 1971 2386
Population (Million) 0.88 0.88 0.89 0.89 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 (%) 1.70 2.4 2.4 2.4 2.4 2.6

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) -0.90 0.1 0.5 1 1 1.3
Consumer Price Index CPI (points) 99.95 102 102 100 100 103
Harmonised Consumer Prices (points) 99.70 104 104 104 104 107
Producer Prices (points) 98.80 122 122 122 122 122
CPI Transportation (points) 93.36 97.75 96.25 91.83 95.42 99.02
Food Inflation (%) 2.30 2 2 2 2 2

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

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (EUR Thousand) -292318.00 -528000 -528000 -528000 -528000 -525000
Current Account (EUR Million) -182.00 -920 -920 -920 -920 -870
Current Account to GDP (%) -6.70 -11 -10.3 -10.3 -10.3 -10.3
Imports (EUR Thousand) 489395.00 766000 766000 766000 766000 787000
Exports (EUR Thousand) 197077.00 238000 238000 238000 238000 262000
Tourist Arrivals (Persons) 87334.00 66200 38700 225900 460000 82000

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 95.50 105 107 107 107 107
Government Budget (% of GDP) 1.70 -7.8 -8.6 -8.6 -8.6 -8.6
Government Budget Value (EUR Million) -277.40 306 306 306 306 352
Government Spending (EUR Million) 1071.40 960 940 1000 1173 990
Government Spending to GDP (%) 39.50 50 46.2 46.2 46.2 46.2

Taxes Actual Q4 Q1 Q2 Q3 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 15.6 16.6 16.6 16.6 15.6
Social Security Rate For Companies (%) 8.30 7.8 8.3 8.3 8.3 7.8
Social Security Rate For Employees (%) 8.30 7.8 8.3 8.3 8.3 7.8

Business Actual Q4 Q1 Q2 Q3 2021
Business Confidence (points) 81.40 90 100 103 105 108
Industrial Production (%) -5.40 -3 -3 1.9 1.9 2.2

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) -28.90 -30 -20 -16 -17 -18
Retail Sales YoY (%) -3.50 -4 2 2.5 2.5 3.8
Consumer Spending (EUR Million) 3169.00 3633 3191 3338 3470 3750
Gasoline Prices (USD/Liter) 1.27 1.2 1.08 1.03 0.98 1.14

Housing Actual Q4 Q1 Q2 Q3 2021
Construction Output (%) -23.10 -10.5 -4 3.5 3.5 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.