Cyprus | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 0.70 0.7 0.6 0.5 0.5 0.4 percent [+]
Unemployment Rate 14.20 11.5 11.4 11.2 11 9.1 percent [+]
Inflation Rate -0.30 -0.2 0.3 0.6 1 1.6 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade -338508.00 -341685 -342086 -342281 -342226 -342235 EUR Thousand [+]
Government Debt to GDP 108.90 101 101 101 101 92.3 percent [+]
MARKETS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Currency 1.07 1.02 1.01 1 1.04 0.83 [+]
Stock Market 69.77 64.72 64.06 63.4 62.74 52.83 points [+]
GDP Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
GDP Growth Rate 0.70 0.7 0.6 0.5 0.5 0.4 percent [+]
GDP Annual Growth Rate 2.90 2.6 2.4 2.3 2.5 2.2 percent [+]
GDP 19.32 19.67 19.96 18.54 20.58 29.85 USD Billion [+]
GDP Constant Prices 3964.50 4052 4093 4131 4167 4473 EUR Million [+]
Gross National Product 17420.60 17761 17846 17931 18016 18270 EUR Million [+]
Gross Fixed Capital Formation 519.27 662 878 752 866 927 EUR Million [+]
GDP per capita 27787.81 26500 26845 27189 27534 28377 USD [+]
GDP per capita PPP 30791.86 30428 30758 31088 31418 39929 USD [+]
GDP From Agriculture 69.70 73.95 72.27 74.21 74.57 78.49 EUR Million [+]
GDP From Construction 156.70 175 188 189 201 220 EUR Million [+]
GDP From Manufacturing 178.35 171 167 167 165 165 EUR Million [+]
GDP From Mining 252.30 243 234 231 231 230 EUR Million [+]
GDP From Public Administration 350.22 380 389 400 406 437 EUR Million [+]
GDP From Services 905.02 845 801 811 794 791 EUR Million [+]
LABOUR Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 14.20 11.5 11.4 11.2 11 9.1 percent [+]
Employed Persons 360.70 357 356 355 354 348 Thousand [+]
Unemployed Persons 55573.00 55250 51124 55223 51151 51304 [+]
Long Term Unemployment Rate 5.70 5.14 5.01 4.91 4.83 5.01 percent [+]
Youth Unemployment Rate 29.90 26.63 26.63 26.62 26.62 26.62 percent [+]
Labour Costs 84.50 93.64 93.59 93.6 93.6 93.6 Index Points [+]
Job Vacancies 5328.00 5537 5598 5581 5569 5574 [+]
Wages 1732.00 1890 1890 1837 2210 2390 EUR/Month [+]
Population 0.85 0.85 0.84 0.84 0.83 0.76 Million [+]
Retirement Age Women 65.00 65 65 65 65 65 [+]
Retirement Age Men 65.00 65 65 65 65 65 [+]
Employment Change 0.60 0.64 0.64 0.6 0.63 0.63 percent [+]
Employment Rate 64.30 63.52 64.28 63.53 64.28 64.24 percent [+]
Full Time Employment 314.00 314 314 314 314 314 Thousand [+]
Labor Force Participation Rate 61.90 62.25 62.32 62.39 62.4 62.38 percent [+]
Productivity 107.70 103 104 109 105 105 Index Points [+]
Part Time Employment 48.40 48.92 49.63 47.31 49.76 50.17 Thousand [+]
Wage Growth -0.70 -0.94 -0.89 -1 -0.91 -0.9 percent [+]
PRICES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Inflation Rate -0.30 -0.2 0.3 0.6 1 1.6 percent [+]
Consumer Price Index CPI 99.61 99.4 99.42 99.42 99.41 99.41 Index Points [+]
Harmonised Consumer Prices 98.73 99.42 99 99.15 99.11 99.12 Index Points [+]
GDP Deflator 114.35 114 113 113 113 111 Index Points [+]
Producer Prices 98.80 98.84 98.74 98.74 98.75 98.75 Index Points [+]
Cpi Transportation 95.64 96.35 96.54 96.57 96.6 96.6 Index Points [+]
Food Inflation 0.65 2.5 0.84 1.75 1.36 1.46 percent [+]
MONEY Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Money Supply M2 18440158.00 17228002 17031651 16838640 16649159 14686218 EUR Thousand [+]
Money Supply M3 23374.00 23350 23334 23318 23302 23111 EUR Thousand [+]
Foreign Exchange Reserves 775.30 805 805 805 805 805 EUR Million [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -338508.00 -341685 -342086 -342281 -342226 -342235 EUR Thousand [+]
Exports 166490.00 144371 144378 144353 144355 144355 EUR Thousand [+]
Imports 504998.00 489334 490903 490721 490728 490731 EUR Thousand [+]
Current Account 331.00 25.86 -366 249 -111 -68.62 EUR Million [+]
Current Account to GDP -4.80 -4.2 -4.2 -4.89 -4.86 -2.1 percent [+]
Capital Flows 339.90 66.56 -134 43.66 -147 -64.73 EUR Million [+]
Remittances 12.00 12.46 12.1 11.17 12.52 12.13 EUR Million [+]
Tourism Revenues 266000.00 81749 86833 66381 41686 953 EUR Thousand [+]
Tourist Arrivals 124192.00 82730 346002 382671 149235 189946 [+]
Gold Reserves 13.90 13.9 13.9 13.9 13.9 13.9 Tonnes [+]
External Debt 100099.84 97463 97671 97420 97624 97523 EUR Million [+]
Terrorism Index 2.04 1.61 1.54 1.46 1.39 0.34 [+]
GOVERNMENT Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Government Debt to GDP 108.90 101 101 101 101 92.3 percent [+]
Government Budget -1.00 -0.5 -0.5 -0.5 -0.5 0.6 percent of GDP [+]
Government Budget Value 186.50 143 -178 161 -198 -140 EUR Million [+]
Government Spending 633.70 631 632 630 632 631 EUR Million [+]
Government Spending to GDP 40.10 44.08 43.81 43.53 43.25 41.09 percent [+]
Government Revenues 1800.90 1606 1493 1781 1842 1746 EUR Million [+]
Fiscal Expenditure 1614.40 1697 1702 1701 1701 1701 EUR Million [+]
Asylum Applications 265.00 242 232 237 237 236 persons [+]
Military Expenditure 427.40 435 441 447 447 399 USD Million [+]
BUSINESS Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Business Confidence 114.70 110 110 115 109 103 [+]
Industrial Production 7.00 6.57 6.68 6.66 6.65 6.64 percent [+]
Manufacturing Production 6.10 5.87 5.96 5.96 5.95 5.95 percent [+]
Changes in Inventories -6.30 28.4 23.53 15.54 23.77 23.58 EUR Million [+]
Car Registrations 3109.00 2856 2610 2846 2612 2628 Cars [+]
Corruption Index 61.00 64.06 64.85 65.64 66.44 75.43 Points [+]
Corruption Rank 32.00 31.84 31.15 30.47 29.78 28.31 [+]
Competitiveness Index 4.04 4.24 4.24 4.24 4.24 4.2 Points [+]
Competitiveness Rank 83.00 63.67 63.67 69.78 71.82 93.63 [+]
Ease of Doing Business 45.00 45.85 45.53 45.22 44.9 44.93 [+]
Electricity Production 327.00 423 360 401 377 386 Gigawatt-hour [+]
Mining Production 26.00 36.35 37.2 37.43 37.49 37.5 percent [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Consumer Confidence -1.20 -11.5 -11.5 -2.33 -17.5 -2.33 [+]
Retail Sales MoM 0.60 1.67 1.56 0.59 1.08 0.98 percent [+]
Retail Sales YoY 5.20 6.33 4.46 5.52 4.95 5.15 percent [+]
Consumer Spending 2653.20 2681 2685 2686 2686 2678 EUR Million [+]
Personal Savings -10.83 -8.62 -10.43 -12.24 -14.06 -25.98 percent [+]
Gasoline Prices 1.21 1.2 1.2 1.19 1.19 1.19 USD/Liter [+]
Households Debt To Income 196.56 201 199 197 195 164 percent [+]
HOUSING Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Housing Index 87.76 82.78 82.03 81.69 81.23 78.67 Index Points [+]
Construction Output 10.90 6.53 3.14 7.34 7.33 5.9 percent [+]
Building Permits 467.00 429 429 428 428 428 [+]
Home Ownership Rate 73.00 73.72 73.7 73.68 73.66 73.46 percent [+]
TAXES Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Corporate Tax Rate 12.50 12.5 12.5 12.5 12.5 12.5 percent [+]
Personal Income Tax Rate 35.00 35 35 35 35 35 percent [+]
Sales Tax Rate 19.00 19 19 19 19 19 percent [+]
Social Security Rate 19.30 19.3 19.3 19.3 19.3 19.3 percent [+]
Social Security Rate For Companies 11.50 11.5 11.5 11.5 11.5 11.5 percent [+]
Social Security Rate For Employees 7.80 7.8 7.8 7.8 7.8 7.8 percent [+]





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. 1/21/2017