Markets Actual Q3 Q4 Q1 Q2 2020
Currency 1.12 1.13 1.13 1.12 1.12 1.11
Stock Market (points) 71.16 70.31 69.56 68.82 68.1 66.66
Overview Actual Q3 Q4 Q1 Q2 2020
GDP Growth Rate (%) 0.70 1 0.8 0.8 0.6 0.4
GDP Annual Growth Rate (%) 3.40 3.8 3.7 3.5 3 3.2
Unemployment Rate (%) 6.50 6.5 6.4 6.5 6.3 6.2
Inflation Rate (%) -0.20 0.3 1.2 2 2.2 2.5
Interest Rate (%) 0.00 0 0 0 0 0.25
Balance of Trade (EUR Thousand) -441509.00 -408000 -675000 31000 -51000 -528000
Current Account (EUR Million) -591.30 50 -980 -360 -360 -920
Current Account to GDP (%) -7.00 -7.5 -7.5 -6.3 -6.3 -6.3
Government Debt to GDP (%) 102.50 97 97 91 91 91
Government Budget (% of GDP) -4.80 2.5 2.5 2.7 2.7 2.7
Business Confidence (Index Points) 110.20 106 106 107 107 108
Consumer Confidence (Index Points) -7.80 -8.2 -7.6 -7 -7 -8
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 2020
GDP Growth Rate (%) 0.70 1 0.8 0.8 0.6 0.4
GDP Annual Growth Rate (%) 3.40 3.8 3.7 3.5 3 3.2
GDP (USD Billion) 24.47 25 25 26.5 26.5 26.5
GDP Constant Prices (EUR Million) 5175.10 5158 5334 5323 5356 5504
Gross National Product (EUR Million) 20730.85 19457 21498 21456 21456 22186
Gross Fixed Capital Formation (EUR Million) 792.40 923 1590 1587 820 1641
GDP per capita (USD) 30926.50 30920 30920 31500 31500 31500
GDP per capita PPP (USD) 33047.55 34000 34000 35250 35250 35250
GDP From Agriculture (EUR Million) 82.30 82.74 84.83 84.66 85.18 87.54
GDP From Construction (EUR Million) 324.80 322 344 343 336 355
GDP From Manufacturing (EUR Million) 236.53 234 244 243 245 252
GDP From Mining (EUR Million) 333.70 332 343 342 345 354
GDP From Public Administration (EUR Million) 476.12 468 487 486 493 503
GDP From Services (EUR Million) 1098.80 1122 1139 1137 1137 1175
Labour Actual Q3 Q4 Q1 Q2 2020
Unemployment Rate (%) 6.50 6.5 6.4 6.5 6.3 6.2
Wages (EUR/Month) 2222.00 1870 2271 2273 2273 2325
Population (Million) 0.86 0.86 0.87 0.88 0.88 0.88
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) 2.50 2.5 2.2 2.3 2 2.4
Prices Actual Q3 Q4 Q1 Q2 2020
Inflation Rate (%) -0.20 0.3 1.2 2 2.2 2.5
Consumer Price Index CPI (Index Points) 101.29 104 103 102 103 106
Producer Prices (Index Points) 103.60 100 117 117 117 122
CPI Transportation (Index Points) 99.19 105 98.93 95.94 98.12 101
Food Inflation (%) -0.90 1.9 2 2 2 2
Money Actual Q3 Q4 Q1 Q2 2020
Interest Rate (%) 0.00 0 0 0 0 0.25
Trade Actual Q3 Q4 Q1 Q2 2020
Balance of Trade (EUR Thousand) -441509.00 -408000 -675000 31000 -51000 -528000
Current Account (EUR Million) -591.30 50 -980 -360 -360 -920
Current Account to GDP (%) -7.00 -7.5 -7.5 -6.3 -6.3 -6.3
Imports (EUR Thousand) 695850.00 682000 864000 864000 675000 766000
Exports (EUR Thousand) 254341.00 274000 189000 775000 624000 238000
Tourist Arrivals 434578.00 424000 124100 124100 124100 141900
Government Actual Q3 Q4 Q1 Q2 2020
Government Debt to GDP (%) 102.50 97 97 91 91 91
Government Budget (% of GDP) -4.80 2.5 2.5 2.7 2.7 2.7
Government Spending (EUR Million) 854.60 809 930 928 885 960
Government Spending to GDP (%) 44.70 38.7 38.7 40 40 40
Taxes Actual Q3 Q4 Q1 Q2 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 15.6 15.6 15.6 16.6 15.6
Social Security Rate For Companies (%) 8.30 7.8 7.8 7.8 8.3 7.8
Social Security Rate For Employees (%) 8.30 7.8 7.8 7.8 8.3 7.8
Business Actual Q3 Q4 Q1 Q2 2020
Business Confidence (Index Points) 110.20 106 106 107 107 108
Industrial Production (%) -0.30 5.3 5.5 5.5 5.5 6
Consumer Actual Q3 Q4 Q1 Q2 2020
Consumer Confidence (Index Points) -7.80 -8.2 -7.6 -7 -7 -8
Retail Sales YoY (%) 4.20 4.4 4.2 4.2 4 3.8
Consumer Spending (EUR Million) 3412.30 3413 3521 3514 3532 3633
Gasoline Prices (USD/Liter) 1.36 1.26 1.23 1.2 1.22 1.2
Housing Actual Q3 Q4 Q1 Q2 2020
Construction Output (%) 12.80 16.1 12.6 10.8 8.7 6.5


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.