Cyprus and the European Union
Since the 1st of May 2004 Cyprus is a full member of the European Union. Recently it has become a member of the European Exchange Mechanism (ERMII) in order to prepare the Cyprus economy for adopting the euro. The adoption of the euro is expected to take place on 1/1/2008 despite the fact that transactions in the Cyprus Stock Exchange are being carried out in euro since 1/11/2006.
|
Structure Indicators | |||||||
|
Year |
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
|
GDP per Capital in PPS | |||||||
|
EU (25 countries) |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
100.0 |
|
EU (15 countries) |
109.7 |
109.6 |
109.3 |
108.9 |
108.6 |
108.2 |
108.0 (f) |
|
Cyprus |
82.2 |
84.4 |
82.6 |
85.2 |
87.7 |
88.9 |
88.3 (f) |
|
Greece |
72.7 |
73.2 |
77.2 |
80.2 |
81.4 |
84.1 |
84.9 (f) |
|
Real GDP Growth Rate | |||||||
|
EU (25 countries) |
3.9 |
2.0 |
1.2 |
1.3 |
2.4 |
1.7 |
2.8 (f) |
|
EU (15 countries) |
3.9 |
1.9 |
1.1 |
1.1 |
2.3 |
1.5 |
2.6 (f) |
|
Cyprus |
5.0 |
4.0 |
2.0 |
1.8 |
4.2 |
3.9 |
3.8 (f) |
|
Greece |
4.5 |
5.1 |
3.8 |
4.8 |
4.7 |
3.7 |
3.8 (f) |
|
Inflation Rate | |||||||
|
EU (27 countries) |
3.5 (i) |
3.2 (i) |
2.5 (i) |
2.1 (i) |
2.3 (i) |
2.3 (i) |
|
|
EU (15 countries) |
1.9 |
2.2 |
2.1 |
2.0 |
2.0 |
2.1 |
|
|
Cyprus |
4.9 |
2.0 |
2.8 |
4.0 |
1.9 |
2.0 |
|
|
Greece |
2.9 |
3.7 |
3.9 |
3.4 |
3.0 |
3.5 |
|
|
Real Unit labour Cost Growth | |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
