[ Nominal GDP in billions of USD ]
Year -
$31.22 billions
Cyprus GDP expanded from 1975 to 2022, increasing from $0.49 billion to $31.22 billion.The compound annual growth rate (CAGR) averaged 9.24% over the period. The economy recorded its peak level in 2022 and its lowest level in 1975. Growth volatility remained high. The maximum drawdown reached 28.48%, indicating the largest cyclical decline from peak levels. The country experienced 7 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2022 | 2024 |
| Latest GDP | $ 31.22 Billions | $ 61.31 Int Billions |
| Growth (YoY) | 2.783% | 6.922% |
| Net Change vs Previous Year | $ 0.85 Billion | $ 3.97 Int Billion |
| % of World GDP | 0.03% | 0.03% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | - | - | - | - | - | - |
| 1961 | - | - | - | - | - | - |
| 1962 | - | - | - | - | - | - |
| 1963 | - | - | - | - | - | - |
| 1964 | - | - | - | - | - | - |
| 1965 | - | - | - | - | - | - |
| 1966 | - | - | - | - | - | - |
| 1967 | - | - | - | - | - | - |
| 1968 | - | - | - | - | - | - |
| 1969 | - | - | - | - | - | - |
| 1970 | - | - | - | - | - | - |
| 1971 | - | - | - | - | - | - |
| 1972 | - | - | - | - | - | - |
| 1973 | - | - | - | - | - | - |
| 1974 | - | - | - | - | - | - |
| 1975 | 0.49 | - | - | - | - | - |
| 1976 | 0.58 | 0.09 | 17.59 % | - | - | - |
| 1977 | 0.73 | 0.16 | 27.563 % | - | - | - |
| 1978 | 0.96 | 0.23 | 31.182 % | - | - | - |
| 1979 | 1.29 | 0.32 | 33.679 % | - | - | - |
| 1980 | 2.15 | 0.87 | 67.169 % | - | - | - |
| 1981 | 2.09 | -0.07 | -3.101 % | - | - | - |
| 1982 | 2.16 | 0.07 | 3.437 % | - | - | - |
| 1983 | 2.16 | 0 | 0.052 % | - | - | - |
| 1984 | 2.28 | 0.12 | 5.457 % | - | - | - |
| 1985 | 2.43 | 0.15 | 6.679 % | - | - | - |
| 1986 | 3.09 | 0.66 | 27.169 % | - | - | - |
| 1987 | 3.7 | 0.61 | 19.868 % | - | - | - |
| 1988 | 4.28 | 0.57 | 15.493 % | - | - | - |
| 1989 | 4.56 | 0.28 | 6.654 % | - | - | - |
| 1990 | 5.59 | 1.03 | 22.519 % | 7.74 | - | - |
| 1991 | 5.77 | 0.18 | 3.203 % | 8.06 | 0.32 | 4.146 % |
| 1992 | 6.91 | 1.14 | 19.791 % | 9.02 | 0.96 | 11.893 % |
| 1993 | 6.59 | -0.32 | -4.656 % | 9.3 | 0.28 | 3.087 % |
| 1994 | 7.43 | 0.84 | 12.676 % | 10.06 | 0.76 | 8.161 % |
| 1995 | 9.93 | 2.51 | 33.767 % | 11.13 | 1.07 | 10.634 % |
| 1996 | 10.01 | 0.08 | 0.793 % | 11.45 | 0.33 | 2.938 % |
| 1997 | 9.55 | -0.46 | -4.635 % | 11.93 | 0.47 | 4.13 % |
| 1998 | 10.25 | 0.7 | 7.34 % | 12.74 | 0.81 | 6.804 % |
| 1999 | 10.5 | 0.25 | 2.432 % | 13.5 | 0.76 | 5.991 % |
| 2000 | 9.99 | -0.51 | -4.878 % | 14.78 | 1.28 | 9.464 % |
| 2001 | 10.4 | 0.41 | 4.126 % | 16.04 | 1.26 | 8.538 % |
| 2002 | 11.42 | 1.02 | 9.832 % | 16.72 | 0.67 | 4.205 % |
| 2003 | 14.55 | 3.13 | 27.382 % | 17.44 | 0.72 | 4.324 % |
| 2004 | 17.32 | 2.77 | 19.063 % | 18.89 | 1.45 | 8.293 % |
| 2005 | 18.43 | 1.11 | 6.425 % | 20.5 | 1.62 | 8.573 % |
| 2006 | 20.07 | 1.64 | 8.893 % | 22.54 | 2.03 | 9.907 % |
| 2007 | 23.97 | 3.9 | 19.409 % | 25.23 | 2.69 | 11.953 % |
| 2008 | 27.84 | 3.88 | 16.171 % | 27.4 | 2.17 | 8.599 % |
| 2009 | 26.05 | -1.8 | -6.452 % | 27.39 | -0.01 | -0.018 % |
| 2010 | 25.8 | -0.25 | -0.953 % | 27.79 | 0.39 | 1.441 % |
| 2011 | 27.64 | 1.84 | 7.138 % | 28.42 | 0.64 | 2.29 % |
| 2012 | 25.05 | -2.59 | -9.385 % | 27.58 | -0.84 | -2.969 % |
| 2013 | 23.96 | -1.09 | -4.343 % | 26.25 | -1.33 | -4.834 % |
| 2014 | 23.23 | -0.73 | -3.063 % | 25.72 | -0.53 | -2.006 % |
| 2015 | 19.91 | -3.32 | -14.28 % | 27.06 | 1.34 | 5.204 % |
| 2016 | 21.05 | 1.14 | 5.712 % | 30.55 | 3.49 | 12.91 % |
| 2017 | 22.95 | 1.9 | 9.028 % | 33.02 | 2.47 | 8.07 % |
| 2018 | 25.75 | 2.81 | 12.235 % | 35.61 | 2.59 | 7.843 % |
| 2019 | 26.2 | 0.44 | 1.719 % | 39.79 | 4.18 | 11.747 % |
| 2020 | 25.56 | -0.64 | -2.449 % | 38.67 | -1.12 | -2.812 % |
| 2021 | 30.37 | 4.82 | 18.852 % | 43.92 | 5.25 | 13.579 % |
| 2022 | 31.22 | 0.85 | 2.783 % | 52.49 | 8.57 | 19.507 % |
| 2023 | - | - | - | 57.34 | 4.85 | 9.243 % |
| 2024 | - | - | - | 61.31 | 3.97 | 6.922 % |
Between 1975 to 2022, Cyprus experienced the following economic phases:
The most remarkable growth occurred in 1980 with an increase of 67.169%, while the largest decline was in 2015 at -14.28%.