Cyprus Economy

The Cyprus economy is characterized by stability, low inflation and a low unemployment rate. The economy is based mainly on professional services. The relevant economic indexes are laid out below:

                            SELECTED ANNUAL ECONOMIC INDEXES

 

 

2002

2003

2004

2005

2006

Official International Reserves

million CYP

1741,3

1617,3

1750,5

2174,1

2400,0(1)

Tourist Arrivals

% fluctuation (5)

-10,3

-4,8

2,0

5,2

-2,0(1)

Revenue from Tourism

% fluctuation (5)

-11,0

-10,4

-3,2

2,4

4,0(1)

Balance of current Transactions (8)

% on the GDP

-3,7

-2,2

-5,0

-5,6(1)

-5,9(1)

Inflation

% fluctuation(5)

 2,80

4,14

2,29

2,56

2,80(1)

Registered Unemployed persons

% on the DP

3,1

3,5

3,6

3,7

 3,5(1)

GDP (current prices)

million CYP

6416,5

6865,9

 7389,8

7861,6(7)

8361,7(1)

GDP (actual growth rate)

% fluctuation (5)

2,0

 1,8

4,2

3,9(7)

3,8(1)

Per capita GDP (CP)

CYP

9042

9528

10026

10372(7)

10859(1)

Per Capita GDP (PPS) (2)

EU -25=100

82,6

 80,4

84,1

84,6

84,0(1)

Per Capita GDP (PPS) (2)

PPS

17800

17500

19100

19900

20600(1)

Fiscal Surplus (+)/ Deficit (-)

million CYP

-283,2

-432,0

-299,9

-183,6(7)

-159(1)

Fiscal Surplus (+)/ Deficit (-)

% of the GDP

-4,4

-6,3

-4,1

2,3(7)

-1,9(1)

General Government

 

 

 

 

 

 

Domestic Public Debt (2)

million CYP

3308,5

3686,5

3785,6

4104,4(7)

4168,7(1)

Domestic Public Debt (2)

% of the GDP

51,6

53,7

51,2

52,2(7)

49,9(1)

Domestic Public Debt (2)

million CYP

844,7

1059,1

1413,1

1338,5(7) 

1246,2(1)

Domestic Public Debt (2)

% of the GDP

13,2

15,4

19,1

17,0(7)

14,9(1)

Total Public Debt (2)

million CYP

4153,2

4745,6

5198,7

5442,9(7)

5414,9(1)

Total Public Debt (2)

% of the GDP

64,7

69,1

70,3

69,2(7)

64,8(1)

Total Public Debt (2)

million CYP

6559,5

7359,4

7977,3

8489,7(7)

 8701,7(1)

Total Public Debt (2)

% of the GDP

102,2

107,2

108,0

108,0(7)

104,1(1)

Total Public Debt (2)

million CYP

3036,3

3541,4

5505,8

7183,2(4)

8430,6(4α)

Total Public Debt (2)

% of the GDP

47,3

51,6

74,5

91,4(4)

100,8(4α)

1. Estimate
2. Excluding inter-governmental debt and short term obligations of the Central Bank to the International Monetary Fund
3. Including inter-governmental debt and short term obligations of the Central Bank to the International Monetary Fund.
4. Preliminary data (4a) Preliminary data for Jan-June2006
5. Fluctuation rate against respective period of the previous year
6. Since 1996, the balance of payments data are prepared on the basis of a new term in respect to citizens as specified in BPM5
7. Semi-final
8. Since 2002 and onwards, data are prepared on the basis of the new term for citizen as specified in BPM5.
9. Source: Statistical Service of the EU
10. (F) Projection