Cyprus | Economic Forecasts | 2016-2020 Outlook

Overview Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
GDP Growth Rate 0.70 0.6 0.7 0.6 0.5 0.5 percent [+]
Unemployment Rate 12.00 11.6 11 11.4 11.2 9.1 percent [+]
Inflation Rate -1.40 0.1 0.2 0.3 0.6 1.6 percent [+]
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Balance of Trade -283281.00 -361457 -349729 -352041 -351734 -351714 EUR Thousand [+]
Government Debt to GDP 108.90 106 101 101 101 92.3 percent [+]
MARKETS Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Currency 1.06 1.05 1.04 1.03 1.02 0.85 [+]
Stock Market 63.91 65.79 65.12 64.46 63.79 53.16 points [+]
GDP Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
GDP Growth Rate 0.70 0.6 0.7 0.6 0.5 0.5 percent [+]
GDP Annual Growth Rate 2.90 2.8 2.6 2.4 2.3 2.2 percent [+]
GDP 19.32 19.59 19.67 19.96 17.24 29.85 USD Billion [+]
GDP Constant Prices 3964.50 4007 4052 4093 4131 4473 EUR Million [+]
Gross National Product 17420.60 17957 17979 18002 18025 17993 EUR Million [+]
Gross Fixed Capital Formation 519.27 926 662 878 752 927 EUR Million [+]
GDP per capita 27377.20 27534 27573 27612 27651 28377 USD [+]
GDP per capita PPP 30309.63 32166 32755 33344 33933 41910 USD [+]
GDP From Agriculture 69.70 73.56 73.95 72.27 74.21 78.49 EUR Million [+]
GDP From Construction 156.70 161 175 188 189 220 EUR Million [+]
GDP From Manufacturing 178.35 173 171 167 167 165 EUR Million [+]
GDP From Mining 252.30 245 243 234 231 230 EUR Million [+]
GDP From Public Administration 350.22 365 380 389 400 437 EUR Million [+]
GDP From Services 905.02 874 845 801 811 791 EUR Million [+]
LABOUR Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Unemployment Rate 12.00 11.6 11 11.4 11.2 9.1 percent [+]
Employed Persons 360.70 354 353 353 353 348 Thousand [+]
Unemployed Persons 51070.00 51097 55250 51124 55223 51304 [+]
Long Term Unemployment Rate 5.70 5.29 5.14 5.01 4.91 5.01 percent [+]
Youth Unemployment Rate 26.70 26.65 26.63 26.63 26.62 26.62 percent [+]
Labour Costs 88.98 93.39 93.64 93.59 93.6 93.6 Index Points [+]
Job Vacancies 5328.00 5469 5537 5598 5581 5574 [+]
Wages 1779.00 2160 1890 1890 1875 2390 EUR/Month [+]
Population 0.85 0.83 0.83 0.82 0.82 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 0.80 0.67 0.7 0.71 0.68 0.69 percent [+]
Employment Rate 64.30 64.29 63.52 64.28 63.53 64.24 percent [+]
Full Time Employment 314.00 314 314 314 314 314 Thousand [+]
Labor Force Participation Rate 61.90 62.08 62.25 62.32 62.39 62.38 percent [+]
Productivity 103.60 105 103 104 109 105 Index Points [+]
Part Time Employment 48.40 48.87 48.92 49.63 47.31 50.17 Thousand [+]
Wage Growth -0.50 -0.29 0.01 0.19 0.27 1.26 percent [+]
PRICES Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Inflation Rate -1.40 0.1 0.2 0.3 0.6 1.6 percent [+]
Consumer Price Index CPI 99.16 99.08 99.02 99.05 99.03 99.04 Index Points [+]
Harmonised Consumer Prices 99.46 99.22 99.79 99.52 99.64 99.6 Index Points [+]
GDP Deflator 114.35 114 114 113 113 111 Index Points [+]
Producer Prices 98.80 99.06 98.84 98.74 98.74 98.75 Index Points [+]
Cpi Transportation 95.00 94.41 93.83 93.53 93.46 93.39 Index Points [+]
Food Inflation -3.41 -2.04 1.53 -0.08 0.45 0.34 percent [+]
MONEY Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Interest Rate 0.00 0 0 0 0 0.5 percent [+]
Money Supply M2 18440158.00 17427471 17228002 17031651 16838640 14686218 EUR Thousand [+]
Money Supply M3 23374.00 23366 23350 23334 23318 23111 EUR Thousand [+]
Foreign Exchange Reserves 801.90 805 805 805 805 805 EUR Million [+]
TRADE Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Balance of Trade -283281.00 -361457 -349729 -352041 -351734 -351714 EUR Thousand [+]
Exports 150747.00 137473 138386 138235 138252 138250 EUR Thousand [+]
Imports 434028.00 505510 492001 494912 494294 494369 EUR Thousand [+]
Current Account -456.80 -318 -278 -352 -363 -333 EUR Million [+]
Current Account to GDP -4.80 -4.2 -4.2 -4.2 -4.95 -2.1 percent [+]
Capital Flows -309.80 -299 66.56 -134 43.66 -64.73 EUR Million [+]
Remittances 12.00 12.93 12.46 12.1 11.17 12.13 EUR Million [+]
Tourism Revenues 392200.00 138617 81749 86833 66381 953 EUR Thousand [+]
Tourist Arrivals 357194.00 132592 82730 346002 382671 189946 [+]
Gold Reserves 13.90 13.9 13.9 13.9 13.9 13.9 Tonnes [+]
External Debt 96548.63 96951 97463 97671 97420 97523 EUR Million [+]
Terrorism Index 2.04 1.39 1.05 0.72 0.39 0.34 [+]
GOVERNMENT Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Government Debt to GDP 108.90 106 101 101 101 92.3 percent [+]
Government Budget -1.00 -0.3 -0.5 -0.5 -0.5 0.6 percent of GDP [+]
Government Budget Value 186.50 -228 143 -178 161 -140 EUR Million [+]
Government Spending 633.70 631 631 632 630 631 EUR Million [+]
Government Spending to GDP 40.10 43.25 43.44 43.63 43.81 41.09 percent [+]
Government Revenues 1800.90 1890 1606 1493 1781 1746 EUR Million [+]
Fiscal Expenditure 1614.40 1718 1697 1702 1701 1701 EUR Million [+]
Asylum Applications 225.00 202 190 195 196 195 persons [+]
Military Expenditure 427.40 435 441 447 447 399 USD Million [+]
BUSINESS Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Business Confidence 115.20 113 110 110 114 103 [+]
Industrial Production 2.10 1.7 2.2 -0.02 1.92 3.16 percent [+]
Manufacturing Production 6.20 4.26 2.53 2.41 1.85 -0.59 percent [+]
Changes in Inventories 75.10 10.13 28.4 23.53 15.54 23.58 EUR Million [+]
Car Registrations 2571.00 2650 2856 2610 2846 2628 Cars [+]
Corruption Index 61.00 66.5 67.75 69 70.25 75.01 Points [+]
Corruption Rank 32.00 29.8 28.85 27.9 26.95 28.66 [+]
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 46.17 45.53 45.22 44.9 44.93 [+]
Electricity Production 440.00 343 423 360 401 386 Gigawatt-hour [+]
Mining Production 37.30 38.46 40.72 41.45 41.61 41.62 percent [+]
CONSUMER Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Consumer Confidence -1.30 -15.2 -11.5 -11.5 -3.09 -3.09 [+]
Retail Sales MoM -1.10 1.67 1.56 0.59 1.08 0.98 percent [+]
Retail Sales YoY 2.40 -0.44 1.81 0.52 1.19 0.96 percent [+]
Consumer Spending 2653.20 2666 2681 2685 2686 2678 EUR Million [+]
Personal Savings -10.83 -14.06 -14.84 -15.63 -16.42 -25.98 percent [+]
Gasoline Prices 1.21 1.19 1.17 1.17 1.17 1.17 USD/Liter [+]
Households Debt To Income 196.56 195 194 192 191 164 percent [+]
HOUSING Actual Q4/16 Q1/17 Q2/17 Q3/17 2020
Housing Index 85.57 84.11 82.78 82.03 81.69 78.67 Index Points [+]
Construction Output 10.90 3.28 6.53 3.14 7.34 5.9 percent [+]
Building Permits 381.00 418 429 429 428 428 [+]
Home Ownership Rate 73.00 73.66 73.54 73.42 73.3 73.46 percent [+]
TAXES Actual Q4/16 Q1/17 Q2/17 Q3/17 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. 12/11/2016