Cyprus GDP

Cyprus country overview

Before we start to discuss Cyprus GDP first we discuss Cyprus country overview, so Cyprus is officially called the Republic of Cyprus. It is an island country located in the eastern Mediterranean sea.

Nicosia is the capital and largest city of Cyprus. Its official language is Greek and Turkish. In ethnic groups, Greek Cypriots and Turkish Cypriots are lives in the majority of Cyprus.

When we talk about the religious divide in Cyprus, so 72% Christians, 25% Muslims and other religion-related peoples live in Cyprus.

Cyprus’s government system is a Unitary presidential republic. Cyprus president name is Nicos Anastasiades. Its voice president’s name is Vacant. Its total land area is 9,250 km2. Its land area rank is 162nd in the world.

Cyprus’s total population is 1,189,260 in the year 2018. Its population rank is 158th in the world. Its population density is 123/km2. Its population density rank is 82nd in the world.

Cyprus Economy

Cyprus’s currency is called the Euro. Cyprus economy is formally called the developed and advanced economy and also a high-income economy.

The inflation rate in Cyprus is 4.7% in the year 2021. 18% of the Cyprus population lives below the poverty line. Its HDI rate is 0.873 in the year 2018. Its HDI rate is considered high HDI score in the world.

Its HDI rank is 31st in the world. When we talk bout its Labour force by occupation, agriculture 4%, industry 15%, and services 81% in the year 2015.

The unemployment rate in Cyprus is 6.4% in the year 2021. Its gross external debt is $95 billion in the year 2014. Its total foreign reserves are $888 million in the year 2017.

Cyprus GDP

Its total GDP is $26 billion (nominal) and $38 billion (PPP) in the year 2021. Cyprus’s GDP rank is 105th (nominal) and 122nd (PPP) in the year 2020.

Its GDP growth rate is 5.2% in the year 2019. Its GDP per capita is $29,480 (nominal) and $42,830 (PPP) in the year 2021. Its GDP per capita rank is 32nd (nominal) and 31st (PPP) in the year 2020.

When we talk about its GDP by sector, agriculture by 2%, industry by 12%, and services are 86% in the year 2018.

Cyprus Exports

Cyprus’s total exports are $2.8 billion in the year 2018. Its main export goods are Potatoes, textile, machinery, and others. Its main export partners are Greece, Norway, the UK, and others.

Cyprus Imports

Its total imports are $8 billion in the year 2018. Its main import goods are petroleum, machinery, transport, and others. Its main import partners are Greece, Italy, China, Germany, the UK, and others.

References: Worldbank, IMF, Wikipedia.

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