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 14.10 11.5 11.4 11.2 11 9.1 percent [+]
Inflation Rate 1.70 -0.2 0.3 0.6 1 1.6 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade -317903.00 -340906 -343696 -343378 -343508 -343515 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 1.09 1.04 1.03 1.02 1.01 0.84 [+]
Stock Market 67.03 65.87 65.21 64.54 63.21 53.23 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 3993.60 4032 4064 4093 4118 4278 EUR Million [+]
Gross National Product 17420.60 17761 17846 17931 18016 18270 EUR Million [+]
Gross Fixed Capital Formation 868.20 582 642 822 651 700 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 70.10 70.58 70.45 70.22 70.47 70.4 EUR Million [+]
GDP From Construction 163.50 178 192 194 206 227 EUR Million [+]
GDP From Manufacturing 181.31 180 177 180 177 177 EUR Million [+]
GDP From Mining 255.90 255 245 246 246 243 EUR Million [+]
GDP From Public Administration 353.55 366 371 380 382 401 EUR Million [+]
GDP From Services 907.46 882 843 861 838 833 EUR Million [+]
LABOUR Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Unemployment Rate 14.10 11.5 11.4 11.2 11 9.1 percent [+]
Employed Persons 360.70 357 356 355 354 348 Thousand [+]
Unemployed Persons 55516.00 60988 56452 60170 58321 60566 [+]
Long Term Unemployment Rate 5.80 5.14 5.01 4.91 4.83 5.01 percent [+]
Youth Unemployment Rate 32.80 26.63 26.63 26.62 26.62 26.62 percent [+]
Labour Costs 105.11 90.62 94.4 93.42 93.67 93.62 Index Points [+]
Job Vacancies 5758.00 5126 5167 5138 5131 5137 [+]
Wages 1732.00 1890 1890 1837 2210 2390 EUR/Month [+]
Population 0.85 0.84 0.84 0.84 0.84 0.83 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 64.00 63.52 64.28 63.53 64.28 64.24 percent [+]
Full Time Employment 315.20 315 315 315 315 315 Thousand [+]
Labor Force Participation Rate 62.70 63.77 63.89 63.89 63.8 63.57 percent [+]
Productivity 104.10 103 103 107 104 104 Index Points [+]
Part Time Employment 47.60 50.91 51.39 50.65 52.86 53.75 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 1.70 -0.2 0.3 0.6 1 1.6 percent [+]
Harmonised Consumer Prices 97.99 98.16 98.39 98.25 98.32 98.3 Index Points [+]
Consumer Price Index CPI 98.87 99.11 99.14 99.06 99.1 99.09 Index Points [+]
GDP Deflator 113.76 113 113 113 113 111 Index Points [+]
Producer Prices 99.20 100 102 104 105 115 Index Points [+]
Cpi Transportation 95.86 95.75 95.9 95.89 95.91 95.91 Index Points [+]
Food Inflation 3.10 2.35 0.66 1.43 1.18 1.23 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 816.70 816 814 815 815 815 EUR Million [+]
TRADE Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Balance of Trade -317903.00 -340906 -343696 -343378 -343508 -343515 EUR Thousand [+]
Exports 165249.00 153180 151106 151130 151104 151106 EUR Thousand [+]
Imports 483152.00 493000 499774 498787 499025 499004 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 8.60 12.11 11.82 9.89 11.9 11.47 EUR Million [+]
Tourism Revenues 50900.00 66755 318466 280763 54966 107849 EUR Thousand [+]
Tourist Arrivals 82209.00 167328 398214 313312 111766 180576 [+]
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 630.80 631 632 630 632 631 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 113.30 110 110 114 109 103 [+]
Industrial Production 8.40 8.19 8.14 8.12 8.12 8.12 percent [+]
Manufacturing Production 5.40 5.9 5.97 5.96 5.96 5.96 percent [+]
Changes in Inventories 146.40 67.65 -2.62 7.42 12.76 23.8 EUR Million [+]
Car Registrations 2784.00 3090 2841 3140 2858 2878 Cars [+]
Corruption Index 55.00 57 57 57 56 61 Points [+]
Corruption Rank 47.00 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 441.00 394 385 401 385 392 Gigawatt-hour [+]
Mining Production 2.70 22.8 23.08 24.58 24.29 24.08 percent [+]
CONSUMER Actual Q1/17 Q2/17 Q3/17 Q4/17 2020
Consumer Confidence -3.20 -11.5 -11.5 -2.68 -17.5 -2.67 [+]
Retail Sales MoM 32.20 4.15 -2.62 1.29 0.48 1.05 percent [+]
Retail Sales YoY 3.30 4.43 2.05 3.67 2.73 3.07 percent [+]
Consumer Spending 2655.40 2666 2667 2663 2664 2656 EUR Million [+]
Personal Savings -10.83 -8.62 -10.43 -12.24 -14.06 -25.98 percent [+]
Gasoline Prices 1.29 1.29 1.29 1.3 1.3 1.3 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 12.00 9.7 5.1 4.8 3.2 2.7 percent [+]
Building Permits 454.00 480 463 462 463 463 [+]
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. 3/28/2017