Markets Actual Q3 Q4 Q1 Q2 2022
Currency 1.18 1.17 1.17 1.16 1.16 1.14
Stock Market (points) 65.87 64.32 62.71 61.14 59.6 56.64

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 2.00 1.5 0.6 0.7 0.7 0.5
GDP Annual Growth Rate (%) -1.60 5.3 3.3 2.8 2 2.8
Unemployment Rate (%) 9.90 10 9.9 9.6 9.1 8.5
Inflation Rate (%) 3.10 2.5 1.8 2 2.1 1.1
Interest Rate (%) 0.00 0 0 0 0 0
Balance of Trade (EUR Thousand) -427977.00 -528000 -525000 -525000 -525000 -525000
Current Account (EUR Million) -922.00 -920 -870 -870 -870 -870
Current Account to GDP (% of GDP) -6.70 -8.6 -8.6 -6.5 -6.5 -6.5
Government Debt to GDP (% of GDP) 118.20 107 107 107 107 108
Government Budget (% of GDP) -5.70 -3.3 -3.3 -1 -1 -1
Business Confidence (points) 105.00 105 108 108 108 110
Consumer Confidence (points) -13.40 -17 -18 -18 -18 -7
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 Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 2.00 1.5 0.6 0.7 0.7 0.5
GDP Annual Growth Rate (%) -1.60 5.3 3.3 2.8 2 2.8
GDP (USD Billion) 23.80 23.5 23.5 23.5 23.5 24.8
GDP Constant Prices (EUR Million) 5331.10 5173 5680 5391 5480 5542
Gross National Product (EUR Million) 21000.31 24404 22896 21693 21588 22301
Gross Fixed Capital Formation (EUR Million) 1238.20 714 1694 1275 1273 1311
GDP per capita (USD) 30438.47 31500 31500 31500 31500 32200
GDP per capita PPP (USD) 37655.18 39100 39100 39100 39100 34000
GDP From Agriculture (EUR Million) 86.00 96.47 90.34 90.28 88.41 92.81
GDP From Construction (EUR Million) 354.10 303 366 365 364 375
GDP From Manufacturing (EUR Million) 279.46 266 260 285 287 293
GDP From Mining (EUR Million) 331.40 313 365 343 341 353
GDP From Public Administration (EUR Million) 985.77 1074 519 1013 1013 1041
GDP From Services (EUR Million) 1132.60 882 1213 1090 1164 1120

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 9.90 10 9.9 9.6 9.1 8.5
Employed Persons (Thousand) 417.40 379 379 379 379 379
Labour Costs (points) 100.55 107 106 119 102 121
Wages (EUR/Month) 2267.00 1918 2386 2301 2301 2347
Population (Million) 0.89 0.89 0.89 0.89 0.89 0.9
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) -3.30 1.2 1.5 1.5 1.5 2

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 3.10 2.5 1.8 2 2.1 1.1
Consumer Price Index CPI (points) 102.39 102 108 102 103 103
Harmonised Consumer Prices (points) 102.17 104 107 107 107 107
Food Inflation (%) -0.53 2.1 1.8 1.3 1.3 1.6
CPI Transportation (points) 101.08 95.69 94.96 99.84 103 96

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 0.00 0 0 0 0 0

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (EUR Thousand) -427977.00 -528000 -525000 -525000 -525000 -525000
Current Account (EUR Million) -922.00 -920 -870 -870 -870 -870
Current Account to GDP (% of GDP) -6.70 -8.6 -8.6 -6.5 -6.5 -6.5
Imports (EUR Thousand) 654140.00 766000 787000 787000 787000 787000
Exports (EUR Thousand) 226163.00 238000 262000 262000 262000 262000
Tourist Arrivals (Persons) 184159.00 460000 82000 82000 82000 115000

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 118.20 107 107 107 107 108
Government Budget (% of GDP) -5.70 -3.3 -3.3 -1 -1 -1
Government Budget Value (EUR Million) -187.90 306 352 352 352 352
Government Spending (EUR Million) 1154.70 1169 990 1139 1187 1170
Government Spending to GDP (% of GDP) 46.30 46.2 46.2 46.2 46.2 42

Taxes Actual Q3 Q4 Q1 Q2 2022
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 Q3 Q4 Q1 Q2 2022
Business Confidence (points) 105.00 105 108 108 108 110
Industrial Production (%) 55.90 3.2 1.2 1.2 1.5 0.9

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) -13.40 -17 -18 -18 -18 -7
Retail Sales YoY (%) 47.30 3.2 2.1 1.8 1.5 1.2
Consumer Spending (EUR Million) 3737.90 3470 3750 3479 3843 3577
Gasoline Prices (USD/Liter) 1.51 1.43 1.36 1.29 1.23 1.17

Housing Actual Q3 Q4 Q1 Q2 2022
Construction Output (%) 4.00 3.5 5 5 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.