Markets Actual Q1 Q2 Q3 Q4 2023
Currency 1.13 1.13 1.12 1.12 1.12 1.11
Stock Market (points) 69.02 67.65 66.3 64.98 63.68 61.18

Overview Actual Q1 Q2 Q3 Q4 2023
GDP Growth Rate (%) 1.50 0.6 0.6 0.6 0.5 0.6
GDP Annual Growth Rate (%) 5.60 4.5 3.3 3 2.8 2.8
Unemployment Rate (%) 6.40 6.2 6.3 6 6.5 5.9
Inflation Rate (%) 4.82 4.2 3.1 3.1 1.7 1.3
Interest Rate (%) 0.00 0 0 0 0.1 0.25
Balance of Trade (EUR Thousand) -527749.00 -480000 -455000 -415000 -360000 -370000
Current Account (EUR Million) -144.70 -730 -400 -270 -560 -650
Current Account to GDP (% of GDP) -11.90 -6.5 -6.5 -6.5 -6.5 -5.5
Government Debt to GDP (% of GDP) 118.20 107 107 107 108 108
Government Budget (% of GDP) -5.70 -1 -1 -1 -1 -0.6
Business Confidence (points) 107.50 104 108 108 110 110
Consumer Confidence (points) -20.10 -11 -9 -7 -5 -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 2023
GDP Growth Rate (%) 1.50 0.6 0.6 0.6 0.5 0.6
GDP Annual Growth Rate (%) 5.60 4.5 3.3 3 2.8 2.8
GDP (USD Billion) 23.80 23.5 23.5 23.5 24.8 24.8
GDP Constant Prices (EUR Million) 5632.20 5501 5571 5499 5801 5655
Gross National Product (EUR Million) 21000.31 22896 21945 21693 21630 22732
Gross Fixed Capital Formation (EUR Million) 964.49 1308 1294 1094 993 1345
GDP per capita (USD) 30438.47 31500 31500 31500 32200 32200
GDP per capita PPP (USD) 37655.18 39100 39100 39100 34000 34000
GDP From Agriculture (EUR Million) 94.70 91.61 89.87 90.9 97.54 94.18
GDP From Construction (EUR Million) 361.60 377 370 368 372 388
GDP From Manufacturing (EUR Million) 307.05 293 292 306 316 301
GDP From Mining (EUR Million) 384.50 351 346 365 396 361
GDP From Public Administration (EUR Million) 1024.70 1034 1030 1029 1055 1063
GDP From Services (EUR Million) 1146.00 1120 1184 1118 1180 1152

Labour Actual Q1 Q2 Q3 Q4 2023
Unemployment Rate (%) 6.40 6.2 6.3 6 6.5 5.9
Employed Persons (Thousand) 417.40 379 379 379 379 379
Labour Costs (points) 93.06 119 102 104 94.45 121
Wages (EUR/Month) 1916.00 2293 1919 1945 1945 2339
Population (Million) 0.89 0.89 0.89 0.89 0.9 0.9
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Wage Growth (%) 1.30 1.5 1.5 1.5 2 2

Prices Actual Q1 Q2 Q3 Q4 2023
Inflation Rate (%) 4.82 4.2 3.1 3.1 1.7 1.3
Consumer Price Index CPI (points) 105.10 105 106 107 107 108
Harmonised Consumer Prices (points) 104.04 107 107 107 107 107
Inflation Rate Mom (%) -0.25 1 0.44 0.19 0.27 0.27
Food Inflation (%) -0.19 4.1 3.8 2.5 1.3 1.7
CPI Transportation (points) 107.08 108 109 109 109 109

Money Actual Q1 Q2 Q3 Q4 2023
Interest Rate (%) 0.00 0 0 0 0.1 0.25

Trade Actual Q1 Q2 Q3 Q4 2023
Balance of Trade (EUR Thousand) -527749.00 -480000 -455000 -415000 -360000 -370000
Current Account (EUR Million) -144.70 -730 -400 -270 -560 -650
Current Account to GDP (% of GDP) -11.90 -6.5 -6.5 -6.5 -6.5 -5.5
Imports (EUR Thousand) 896406.00 830000 815000 800000 780000 795000
Exports (EUR Thousand) 368657.00 350000 360000 385000 420000 425000
Tourist Arrivals (Persons) 148973.00 82000 82000 82000 115000 115000

Government Actual Q1 Q2 Q3 Q4 2023
Government Debt to GDP (% of GDP) 118.20 107 107 107 108 108
Government Budget (% of GDP) -5.70 -1 -1 -1 -1 -0.6
Government Budget Value (EUR Million) -601.70 352 352 352 352 352
Government Spending (EUR Million) 1184.00 1169 1207 1238 1220 1202
Government Spending to GDP (% of GDP) 46.30 46.2 46.2 46.2 42 42

Taxes Actual Q1 Q2 Q3 Q4 2023
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 Q1 Q2 Q3 Q4 2023
Business Confidence (points) 107.50 104 108 108 110 110
Industrial Production (%) 1.70 1.2 1.5 1.5 0.9 0.9
Manufacturing Production (%) 2.40 3.69 3.71 3.71 3.69 3.75
Mining Production (%) -2.20 29.76 29.98 29.86 29.86 29.89

Consumer Actual Q1 Q2 Q3 Q4 2023
Consumer Confidence (points) -20.10 -11 -9 -7 -5 -5
Retail Sales YoY (%) 6.20 -2.1 1.8 0.5 0.7 0.7
Consumer Spending (EUR Million) 3913.00 3588 3906 3632 4030 3688
Gasoline Prices (USD/Liter) 1.50 1.43 1.35 1.29 1.22 1.16

Housing Actual Q1 Q2 Q3 Q4 2023
Construction Output (%) -3.30 5 5 5 5 5


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Cyprus Forecast - was last updated on Sunday, January 23, 2022.