Cyprus: economy

What is the GDP growth rate of Cyprus?

Cyprus's GDP grew 3.3% in real terms in the second quarter of 2026 compared with a year earlier, seasonally adjusted, according to the quarterly national accounts published by the Statistical Service of Cyprus (CYSTAT) on 1 September 2026. GDP rose 0.8% on the first quarter.

CYSTAT attributes the growth mainly to wholesale and retail trade, information and communication, finance and insurance, and construction. In its 2027 budget statement of 12 October 2026, the Ministry of Finance forecasts growth of 3.1% for 2026 and 2.9% for 2027. Quarterly figures are revised as more data arrive.

Official sources: CYSTAT: Quarterly National Accounts, Q2 2026 (PDF) · Ministry of Finance: 2027 State Budget press release

What is the inflation rate in Cyprus?

Consumer prices in Cyprus were 3.7% higher in September 2026 than a year earlier, according to the consumer price index published by CYSTAT on 8 October 2026. Over January to September 2026 prices were 2.3% higher than in the same months of 2025.

Petroleum products rose 25.8% and electricity and water 11.2% over the year, while industrial goods fell 1.1%. The EU-comparable harmonised index (HICP) rose 5.2% in September 2026, according to a Eurostat estimate. The two indices use different weights, so they can differ. The Ministry of Finance expects HICP inflation of 4.0% for 2026.

Official sources: CYSTAT: Consumer Price Index, September 2026 (PDF) · Eurostat: HICP annual rate of change

What is the GDP per capita of Cyprus?

GDP per person in Cyprus was €36,850 in 2025, a provisional figure, according to Eurostat. CYSTAT's key figures put total GDP at €36,483.5 million at current prices in 2025 and the population at 996.6 thousand (provisional).

GDP per capita divides the value of everything produced in a year by the number of residents. It is not a measure of household income. Figures for Cyprus cover the areas under the effective control of the Government of the Republic of Cyprus.

Official sources: Eurostat: Main GDP aggregates per capita · CYSTAT key figures (Greek)

What is the economic forecast for Cyprus?

The Ministry of Finance expects the Cypriot economy to grow 3.1% in 2026 and 2.9% in 2027, according to its press release on the 2027 State Budget of 12 October 2026. It projects unemployment of 3.8% and harmonised inflation of 4.0% in 2026, easing to 2.5% in 2027 and 2.0% in 2028 to 2029.

The ministry says the 2026 inflation estimate reflects mainly the global energy crisis. Forecasts are based on the ministry's assumptions at the time of the budget and are updated in later fiscal documents. Actual outturns are published by CYSTAT.

Official sources: Ministry of Finance: 2027 State Budget press release

Is Cyprus' economy growing?

In 2025, real GDP growth in Cyprus was 3.8%, according to the World Bank. Since 2005 it has ranged from -6.6% (2013) to 11.4% (2021). It is 11th highest of 49 in Europe & Central Asia, where the median is 2.1%. Of 180 countries with 2025 data, 75th highest.

What is Cyprus' GDP per person?

According to the World Bank, GDP per person in Cyprus was $41,783 in 2025. No year since 2005 has been higher. Across Europe & Central Asia the middle value was $28,420, and Cyprus placed 17th highest of 49. Of 180 countries with 2025 data, 25th highest.

What is Cyprus' GDP per person adjusted for prices?

The latest figure from the World Bank, for 2025, is $64,575 in international dollars. No year since 2005 has been higher. Europe & Central Asia median: $50,946 in international dollars; Cyprus is 15th highest of 49. Worldwide: 25th of 179.

What share of Cyprus' economy is exports?

The World Bank puts exports of goods and services in Cyprus at 97.6% of GDP in 2025. Its high point since 2005 was 2022, at 104.7% of GDP; its low point was 2009, at 48.7% of GDP. Across Europe & Central Asia the middle value was 47.7% of GDP, and Cyprus placed 3rd highest of 46. Of 133 countries with 2025 data, 7th highest.

Does Cyprus have a current account surplus or deficit?

The IMF puts the current account balance in Cyprus at -6.3% of GDP in 2025 (a deficit). Since 2005 it has ranged from -14.4% of GDP (2008) to -0.2% of GDP (2015). It is 42nd highest of 47 in Europe & Central Asia, where the median is -0.3% of GDP. World rank, highest first: 112th of 132.

What is FDI in Cyprus?

According to the IMF, net inflows of foreign direct investment in Cyprus was 27.1% of GDP in 2025. The peak was 431.8% of GDP in 2019 and the low -296.0% of GDP in 2020. It is 1st highest of 49 in Europe & Central Asia, where the median is 1.9% of GDP. Worldwide: 5th of 179.