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Economy of Cyprus

Population: 1.1 million in 20131

GDP: $22 billion in 20132

GDP per capita: $25,249 nominal3 ($29,450 PPP4) in 2013

GDP growth rate: -5.4% in 20135


GDP by Industry 20126

Industry sectorValue added ($ millions) 2012Percent of total
Other activities12,11053.7%
Wholesale, retail trade, restaurants and hotels4,14818.4%
Transport, storage and communication2,0379.0%
Mining and utilities6923.1%
Agriculture, hunting, forestry, fishing5632.5%
Total value added22,560100%


Unemployment rate: 15.8% in 20137

Employment by Industry 20138

Employment sector Employees (thousands) 2013Percent of total
Wholesale trade, retail trade and repair of motor vehicles6818.5%
Accommodation and food service298.0%
Public administration and defence267.2%
Professional, scientific and technical256.8%
Activities of households as employers226.2%
Finance and insurance226.1%
Human health and social work164.5%
Transportation and storage154.1%
Agriculture, forestry and fishing113.1%
Other service102.8%
Administrative and support service92.6%
Information and communication92.4%
Arts, entertainment and recreation51.3%
Water supply, sewerage and waste management51.3%
Electricity, gas, steam and air conditioning20.5%
Extraterritorial organizations and bodies10.3%
Real estate10.4%
Mining and quarrying10.2%
Total employment365100%


Top 10 Corporations by Revenue 20139



Household Wealth: $90 billion (409% of GDP) in 201410

Household Wealth per Adult: $128,479 in 201410

Gini Coefficient: .31 in 201211


Central Government

Central Government Revenue: $8.7 billion (39% of GDP) in 201312

Central Government Expenditure: $10.0 billion (45% of GDP) in 201312

Central Government Budget Balance: -$1.3 billion (-6% of GDP) in 201312

Central Government Public Debt: $28 billion (129% of GDP) in Q3 2014* 13

Central Government 10 Year Bond Interest Rate: 4.85% in July 201414

* Public debt calculated using the exchange rate .883 EUR = 1 USD

Government Funds


Tax Structure

Individual Income Tax Rates and Thresholds in 2014* 15

Corporate Tax Rate: 12.5% in 201416

* Individual thresholds calculated using the exchange rate .883 EUR = 1 USD

Monetary Policy

Money Supply (Euro area, M1): $6.58 trillion in Nov 2014* 17

Benchmark Interest Rate (Euro area): Main Refinancing rate = 0.05% in Sept 201418

Total Reserves: $916 million (4% of GDP) in 201319

Exchange Rate: .883 Euros = 1 U.S. Dollar on Feb 10, 201520

Inflation: -0.4% in 201321

* Money supply calculated using the exchange rate .883 EUR = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 201322

N/A (data not available at Relbanks.com)

International Accounts

Exports: $2.4 billion (11% of GDP) in 201323

Imports: $4.7 billion (21% of GDP) in 201323

Trade Balance: -$2.3 billion (-10% of GDP) in 201323

Foreign Direct Investment Inflow: $607 million (3% of GDP) in 201324

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: N/A

Foreign Aid Outflow: N/A


1. Source: World Bank Indicators (Population) Go back
2. Source: World Bank Indicators (GDP) Go back
3. Source: World Bank Indicators (GDP per capita) Go back
4. Source: World Bank Indicators (GDP per capita PPP) Go back
5. Source: World Bank Indicators (GDP growth rate) Go back
6. Source: United Nations Statistics Division (GDP by industry) Go back
7. Source: World Bank Indicators (Unemployment rate) Go back
8. Source: International Labor Organization, ILOSTAT, Downloads (Employment by economic activity) Go back
9. Source: Annual reports (Corporate data) Go back
10. Source: Credit Suisse Global Wealth Databook (Household wealth) Go back
11. Source: CIA World Factbook (Gini coefficient) Go back
12. Source: CIA World Factbook (Government budget) Go back
13. Source: IMF Dissemination Standards Bulletin Board (Public debt) Go back
14. Source: Financial Post (Government bond yield) Go back
15. Source: KPMG Tax Guide (Individual tax rates) Go back
16. Source: Tax Foundation (Corporate tax rate) Go back
17. Source: ECB Monetary developments (Money supply) Go back
18. Source: ECB Key interest rates (Benchmark interest rate) Go back
19. Source: World Bank Indicators (Total reserves) Go back
20. Source: Yahoo Finance (Exchange rate) Go back
21. Source: World Bank Indicators (Inflation rate) Go back
22. Source: Relbanks.com (Financial institutions by assets) Go back
23. Source: CIA World Factbook (Trade data) Go back
24. Source: World Bank Indicators (FDI data) Go back