Cyprus

Description of Cyprus

Cyprus, a strategically located island nation in the eastern Mediterranean, boasts a rich history that spans millennia. It has experienced the influences of various civilizations, leaving behind a unique cultural tapestry that captivates visitors and researchers alike. With a flourishing economy driven by tourism, shipping, and services, Cyprus has also emerged as a regional hub for finance and education. As we delve deeper into the macroeconomic statistics and geopolitical dynamics shaping Cyprus's development, we uncover the intricate interplay of factors that position this island nation at the crossroads of Europe, Asia, and Africa.

Population And Age Structure

Population, total: Cyprus has a population of 1,237,537, significantly below the average population of 40,097,746. The country is ranked 154th out of 194 countries in terms of population.

Population ages 0-14 (% of total population): With 16.01% of its population aged 0-14, Cyprus falls below the average of 27.34%. The country ranks 160th out of 194 countries.

Population ages 0-14, total: Cyprus has a total of 198,080 individuals aged 0-14, much lower than the average of 10,327,380. The country holds the 160th rank out of 194 countries.

Population ages 15-64 (% of total population): Cyprus has 69.84% of its population aged 15-64, above the average of 63.44%. The country is ranked 24th out of 194 countries.

Population ages 15-64, total: With a total of 864,290 individuals aged 15-64, Cyprus is below the average of 26,003,407. The country ranks 152nd out of 194 countries.

Population ages 65 and above (% of total population): Cyprus has 14.15% of its population aged 65 and above, higher than the average of 9.22%. The country ranks 54th out of 194 countries.

Population ages 65 and above, total: Cyprus has 175,167 individuals aged 65 and above, below the average of 3,766,959. The country holds the 133rd rank out of 194 countries.

Summary

Cyprus has a relatively small population compared to the global average, with a higher proportion of adults in the working-age bracket (15-64 years) and a lower percentage of children (0-14 years) and elderly (65 and above). This demographic composition can impact the country's labor force availability, healthcare system requirements, and overall societal structure, influencing economic policies related to education, healthcare, pensions, and workforce development.

Population Miscellaneous

For the attribute "Rural population," Cyprus has a value of 410,602, which is significantly below the average of 18,044,041. This places Cyprus at rank 151 out of 190 countries included in the data.

"Rural population (% of total population)" in Cyprus is 33.179, lower than the average of 41.158%. Cyprus ranks 111 out of 190 countries in this metric.

Cyprus's "Urban population" stands at 826,935, well below the average of 22,425,747. This puts Cyprus at the same rank of 151 out of 194 countries.

With an "Urban population (% of total population)" of 66.821%, Cyprus surpasses the average of 59.690%. This places Cyprus at rank 84 out of 194 countries.

The "Age dependency ratio (% of working-age population)" in Cyprus is 43.185%, lower than the average of 59.219%. Cyprus ranks 171 out of 194 countries in this aspect.

Cyprus has a "Birth rate, crude" of 10.583 per 1,000 people, below the average of 19.384. This puts Cyprus at rank 148 out of 192 countries included in the data.

Its "Death rate, crude" is 6.93 per 1,000 people, also lower than the average of 8.214. Cyprus ranks 119 out of 192 countries in this category.

Regarding the "Fertility rate, total (births per woman)," Cyprus has a rate of 1.328, significantly below the average of 2.603. Cyprus is at rank 180 out of 190 countries for this metric.

Summary

Cyprus exhibits a unique demographic profile with a relatively low rural population and high urban population compared to global averages. The country also shows lower dependency ratios and fertility rates, indicating a potential demographic challenge of an aging population with low birth rates. These indicators are crucial for policymakers and analysts to understand the societal structure, workforce dynamics, and future economic growth prospects of Cyprus.

Military

Military expenditure (current USD) in Cyprus is $483,415,023.37. This is significantly below the average of $12,904,993,617.17. Cyprus ranks 88 out of 149 countries in this attribute.

Military expenditure (% of GDP) in Cyprus is 1.94%, slightly above the average of 1.90%. Cyprus ranks 52 out of 148 countries in this attribute.

Arms imports in Cyprus are $30,000,000, which is well below the average of $205,522,123.89. Cyprus ranks 64 out of 113 countries in this attribute.

The total number of armed forces personnel in Cyprus is 13,000, significantly below the average of 165,908.54. Cyprus ranks 120 out of 164 countries in this attribute.

The percentage of armed forces personnel in Cyprus compared to the total labor force is 1.99%, considerably above the average of 1.28%. Cyprus ranks 27 out of 164 countries in this attribute.

Summary

Cyprus demonstrates a unique pattern in its military indicators. While its military expenditure in absolute terms is notably low, it allocates a slightly higher percentage of its GDP compared to the global average. Additionally, Cyprus maintains a smaller armed forces personnel count but has a relatively high proportion of military personnel in its labor force. These findings are important as they suggest Cyprus prioritizes efficiency and strategic deployment of resources in its defense sector despite resource constraints. It also indicates a strategic focus on maximizing the impact of its military capabilities relative to its size and economic capacity.

Natural Resources

Analysis for Cyprus:

1. Forest area (sq. km): Cyprus has a forest area of 1725.3 sq. km, which is below the average of 211606.11 sq. km. Cyprus ranks 153 out of 191 countries in this attribute.

2. Land area (sq. km): With a land area of 9240 sq. km, Cyprus is below the average of 665166.51 sq. km. Its rank is 162 out of 194 countries.

3. Surface area (sq. km): Cyprus has a surface area of 9250 sq. km, also below the average of 689779.56 sq. km. It ranks 162 out of 194 countries.

4. Arable land (hectares): Cyprus possesses 99448.3 hectares of arable land, lower than the average of 7329543.16 hectares. It is ranked 147 out of 190 countries.

5. Land under cereal production (hectares): Cyprus has 26510 hectares of land under cereal production, below the average of 4206011.63 hectares. It ranks 148 out of 174 countries.

6. Average precipitation in depth (mm per year): Cyprus receives an average precipitation depth of 498 mm per year, lower than the average of 1157.83 mm. Its rank is 140 out of 178 countries.

7. Renewable internal freshwater resources, total (billion cubic meters): Cyprus has 0.78 billion cubic meters of renewable internal freshwater resources, far below the average of 240.41 billion cubic meters. It ranks 157 out of 178 countries.

Summary

Cyprus exhibits below-average values in key macroeconomic indicators such as forest area, land area, arable land, land under cereal production, average precipitation, and renewable internal freshwater resources. These lower values signify potential limitations in agricultural productivity, natural resource availability, and environmental sustainability for the country. Addressing these challenges is crucial for Cyprus to enhance its agricultural output, preserve its natural resources, and ensure water security for its population.

Resource Rents

Total natural resources rents (% of GDP): Cyprus's value for this attribute is significantly below the average of 4.63%. With a rank of 167 out of 175 countries, Cyprus ranks towards the lower end in terms of total natural resources rents as a percentage of GDP.

Forest rents (% of GDP): Cyprus's value for forest rents (% of GDP) is notably below the average of 1.53%. At a rank of 167 out of 174 countries, Cyprus ranks relatively low in comparison to other nations in terms of forest rents as a percentage of GDP.

Mineral rents (% of GDP): Cyprus's value for mineral rents (% of GDP) is well below the average of 1.23%. With a rank of 79 out of 86 countries, Cyprus ranks lower in comparison to other nations in terms of mineral rents as a percentage of GDP.

Summary

Cyprus's total natural resources rents, forest rents, and mineral rents as a percentage of GDP are all significantly below global averages. These indicators suggest that Cyprus has limited reliance on natural resource-based industries for economic growth compared to other countries. This can impact the country's economic diversification, resilience to commodity price fluctuations, and overall economic development strategy.

Commodities

For Cereal production, with a value of 63,130 metric tons in Cyprus, it is significantly below the average of 17,249,945. Cyprus ranks 146 out of 174 countries in this attribute data.

Aquaculture production in Cyprus stands at 7,342.6 metric tons, far below the average of 679,642.9 metric tons. Cyprus is ranked 85 out of 180 countries in this category.

Cyprus's Capture fisheries production is 1,327.27 metric tons, also notably lower than the average of 467,453.1 metric tons. The country ranks 167 out of 190 nations for this attribute.

Total fisheries production in Cyprus amounts to 8,669.87 metric tons, well under the average of 1,153,914.9 metric tons. Cyprus holds the 147th position out of 182 countries in this regard.

Regarding Fertilizer consumption, Cyprus utilizes 167.56 kilograms per hectare of arable land, slightly above the average of 159.04 kilograms. Cyprus stands at rank 53 out of 187 countries in this specific attribute.

Summary

Cyprus demonstrates below-average performance in key agriculture and fisheries production metrics such as cereal production, aquaculture, and capture fisheries. These low production levels could indicate challenges in the agricultural and fisheries sectors, potentially impacting food security and economic growth in the country. Additionally, while Cyprus exceeds the average fertilizer consumption per hectare of arable land, ranking relatively higher in this aspect compared to the other metrics, this could suggest a focus on enhancing agricultural productivity and sustainability.

Intellectual Property

1. Industrial design applications, resident, by count: Cyprus has a value of 82 for this attribute, which is significantly below the average of 9799.57. Cyprus ranks 72 out of 113 countries in this data set.

2. Patent applications, nonresidents: Cyprus has a value of 1 for this attribute, much lower than the average of 6538.40. Cyprus ranks 127 out of 129 countries in this data set.

3. Patent applications, residents: Cyprus has a value of 2 for this attribute, well below the average of 19037.56. Cyprus ranks 115 out of 117 countries in this data set.

4. Trademark applications, nonresident, by count: Cyprus has a value of 2112, which is considerably below the average of 15878.93. Cyprus ranks 101 out of 130 countries in this data set.

5. Trademark applications, resident, by count: Cyprus has a value of 1320 for this attribute, significantly lower than the average of 111055.78. Cyprus ranks 93 out of 129 countries in this data set.

6. Scientific and technical journal articles: Cyprus has a value of 1485.23, below the average of 15103.76. Cyprus ranks 73 out of 192 countries in this data set.

7. Charges for the use of intellectual property, payments (BoP, current US$): Cyprus has a value of 300267056.77 for this attribute, which is substantially below the average of 3218843494.39. Cyprus ranks 52 out of 143 countries in this data set.

8. Charges for the use of intellectual property, receipts (BoP, current US$): Cyprus has a value of 600364323.32 for this attribute, below the average of 3191687117.58. Cyprus ranks 33 out of 122 countries in this data set.

9. Researchers in R&D (per million people): Cyprus has a value of 1739.86 for this attribute, below the average of 2556.45. Cyprus ranks 38 out of 72 countries in this data set.

Summary

The analysis of key macroeconomic indicators for Cyprus reveals a mixed performance compared to global averages and rankings. Cyprus generally falls below average in industrial design applications, patent applications both by residents and nonresidents, trademark applications, scientific and technical journal articles, charges for the use of intellectual property, receipts, and the number of researchers in R&D per million people. This suggests a relatively lower level of innovation and intellectual property activity in Cyprus compared to the global average. These indicators are crucial as they reflect the country's competitiveness, innovation capacity, and investment in research and development, which are vital for long-term economic growth and sustainability.

Broad Economy Attributes

When looking at the GDP (current US$) of Cyprus, we see that it is $25,227,201,184.23, which is significantly below the average of $442,870,224,838.68. Cyprus ranks 101 out of 189 countries in this data set.

For GDP per capita (current US$), Cyprus stands at $28,281.43, surpassing the average of $15,462.11. This places Cyprus at the 32nd position out of 190 countries.

The focus country value of GNI (current US$) for Cyprus is $23,469,189,245.99, well below the average of $452,040,815,370.70. Cyprus holds the 102nd position out of 185 countries in this aspect.

When examining GNI per capita, PPP (current international $), Cyprus shows a value of $39,820, which is higher than the average of $20,615.75. Cyprus ranks 35th out of 181 countries in this metric.

Summary

Cyprus displays a mixed economic performance when compared to global averages across key indicators. While its GDP and GNI figures are considerably lower than the averages, its GDP per capita and GNI per capita figures exceed the global averages significantly. These statistics are crucial as they indicate that Cyprus has a relatively strong economic output per individual despite its overall lower GDP and GNI, showcasing the country's potential for higher living standards and individual wealth.

Broad Value Added

1. Gross value added at basic prices (GVA) (current US$): Cyprus's GVA is $22,467,874,577.67, ranking 96 out of 176 countries. This figure is below the attribute average of $360,070,943,595.12.

2. Agriculture, forestry, and fishing, value added (% of GDP): Cyprus's value added in this sector is 1.85% of GDP, ranking 150 out of 182 countries. This is below the attribute average of 10.86%.

3. Agriculture, forestry, and fishing, value added (current US$): Cyprus's value added in this sector is $466,466,249.23, ranking 143 out of 182 countries. It is below the attribute average of $19,924,732,828.07.

4. Services, value added (% of GDP): Cyprus's service sector value added is 74.17% of GDP, ranking 11 out of 183 countries. This is above the attribute average of 56.72%.

5. Services, value added (current US$): Cyprus's service sector value added is $18,710,669,030.25, ranking 94 out of 183 countries. It is below the attribute average of $295,837,711,130.69.

6. Industry (including construction), value added (current US$): Cyprus's value added in industry is $3,290,739,298.19, ranking 123 out of 183 countries. This is below the attribute average of $118,421,095,413.50.

Summary

Cyprus has a relatively low Gross Value Added at basic prices (GVA), ranking 96 out of 176 countries, well below the global average. The country also lags behind in the Agriculture, forestry, and fishing sector, with a value added of 1.85% of GDP, ranking 150 out of 182 countries. However, Cyprus excels in the Service sector, where it ranks 11 out of 183 countries, with a value added of 74.17% of GDP.

These findings are important as they highlight Cyprus's strong reliance on the service sector for economic output. The low performance in agriculture signifies a potential area for development, while the high ranking in services indicates a competitive advantage that Cyprus can leverage for further growth and diversification of its economy.

Manufacturing Value Added

Manufacturing, value added (current US$): Cyprus's value of $1.44 billion is significantly below the average of approximately $76.21 billion, ranking 117th out of 173 countries.

Manufacturing, value added (% of GDP): Cyprus's value of 5.70% is below the average of 11.90% and ranks 139th out of 173 countries.

Medium and high-tech manufacturing value added (% manufacturing value added): Cyprus's value of 23.47% is slightly below the average of 24.49%, ranking 73rd out of 149 countries.

Chemicals (% of value added in manufacturing): Cyprus's value of 16.47% exceeds the average of 11.56%, placing it at 15th out of 89 countries.

Food, beverages and tobacco (% of value added in manufacturing): Cyprus's value of 32.41% is notably above the average of 24.51%, ranking 25th out of 92 countries.

Machinery and transport equipment (% of value added in manufacturing): Cyprus's value of 13.33% is below the average of 16.85%, putting it at 53rd out of 93 countries.

Textiles and clothing (% of value added in manufacturing): Cyprus's value of 1.20% is below the average of 6.33%, placing it at 81st out of 93 countries.

Other manufacturing (% of value added in manufacturing): Cyprus's value of 36.60% is below the average of 42.13%, ranking 65th out of 94 countries.

Summary

Cyprus's manufacturing sector shows strengths in chemicals and food, beverages, and tobacco production, exceeding global averages in both categories. However, it lags in textile and clothing manufacturing, well below the international average. This information is crucial for policymakers and investors to identify the country's competitive advantages and areas needing improvement within its manufacturing industry, guiding strategic decision-making and economic policies.

Money

For Inflation, consumer prices (annual %), Cyprus experienced a negative inflation rate of -0.64%, which is below the attribute average of 8.26%. This places Cyprus at rank 149 out of 165 countries included in the data.

Regarding Inflation, GDP deflator (annual %), Cyprus had a deflation rate of -1.36%, also below the attribute average of 6.90%. Cyprus ranks 161 out of 188 countries in this indicator.

Summary

Cyprus is experiencing negative inflation rates for both consumer prices and GDP deflator, ranking below the global average in both indicators. These low inflation rates may indicate economic stagnation or deflationary pressures within the country, impacting consumer purchasing power, investment decisions, and overall economic growth prospects.

Consumption Expenditure

- Final consumption expenditure for Cyprus is $20,284,509,757.79, which is significantly below the average of $381,630,252,515.38. Cyprus ranks 98th out of 159 countries in this attribute.

- Final consumption expenditure (% of GDP) for Cyprus is 80.41%, slightly below the average of 82.37%. Cyprus ranks 77th out of 159 countries in this metric.

- General government final consumption expenditure for Cyprus is $4,877,979,134.35, well below the average of $93,676,578,238.03. Cyprus ranks 89th out of 158 countries in this category.

- General government final consumption expenditure (% of GDP) for Cyprus is 19.34%, above the average of 18.71%. Cyprus ranks 66th out of 158 countries in this aspect.

- Household and NPISHs final consumption expenditure for Cyprus is $15,406,530,623.43, significantly below the average of $290,127,571,157.69. Cyprus ranks 98th out of 158 countries in this attribute.

- Household and NPISHs final consumption expenditure (% of GDP) for Cyprus is 61.07%, below the average of 63.68%. Cyprus ranks 83rd out of 158 countries in this metric.

Summary

Consistent with its ranking among the analyzed countries, Cyprus exhibits lower-than-average final consumption expenditure figures across various categories, including total, government, and household expenditures in both absolute terms and as a percentage of its GDP. These indicators suggest that Cyprus may have constraints in terms of domestic demand and public spending compared to its peers. Addressing these lower-than-average consumption levels could be crucial for stimulating economic growth and enhancing overall prosperity in Cyprus.

Equities

- Listed domestic companies, total: Cyprus has 92 listed domestic companies, well below the average of 636.625. This ranks Cyprus 43rd out of 72 countries. - Stocks traded, total value (current US$): Cyprus's total stock value of $38,970,000 is significantly below the average of $1,379,501,820.91. This places Cyprus 62nd out of 71 countries. - Stocks traded, total value (% of GDP): The value of stocks traded in Cyprus accounts for 0.15% of GDP, much lower than the average of 31.65%. Cyprus ranks 63rd out of 71 countries in this aspect. - Market capitalization of listed domestic companies (current US$): Cyprus's market capitalization of listed domestic companies is $4,693,160,000, far below the average of $1,196,037,851,618.88. Cyprus ranks 64th out of 73 countries. - Market capitalization of listed domestic companies (% of GDP): Cyprus's market capitalization as a percentage of GDP is 18.60%, well below the average of 71.24%. Cyprus ranks 57th out of 73 countries. - S&P Global Equity Indices (annual % change): Cyprus experienced a -10.39% change in S&P Global Equity Indices, contrasting with the average of 2.06%. This places Cyprus 62nd out of 79 countries.

Summary

Cyprus lags behind global averages in key macroeconomic indicators related to its stock market performance. The low number of listed domestic companies, minimal stock value and market capitalization in comparison to GDP, and negative change in S&P Global Equity Indices suggest a less developed and less liquid stock market. These indicators are important as they reflect the depth, breadth, and performance of Cyprus's stock market, impacting its attractiveness to investors and potential for capital formation.

Investment

Analysis of Foreign Direct Investment, net (BoP, current US$): The focus country, Cyprus, has a value of -8617568064.05669, which is significantly below the attribute average of -1615235980.5053596. Cyprus ranks 156th out of 169 countries in this dataset.

Analysis of Foreign Direct Investment, net inflows (BoP, current US$): Cyprus has a value of -26023544826.6398, well below the attribute average of 5749271080.145696. Cyprus ranks 179th out of 182 countries.

Analysis of Foreign Direct Investment, net inflows (% of GDP): Cyprus has a value of -103.156686453621, much lower than the attribute average of 2.609379547494923. Cyprus ranks 178th out of 178 countries.

Analysis of Foreign Direct Investment, net outflows (BoP, current US$): Cyprus has a value of -34641112890.6965, significantly lower than the attribute average of 5707991116.068991. Cyprus ranks 153rd out of 156 countries.

Analysis of Foreign Direct Investment, net outflows (% of GDP): Cyprus has a value of -137.316512591782, well below the attribute average of 1.00435052368164. Cyprus ranks 155th out of 155 countries.

Analysis of Portfolio Investment, net (BoP, current US$): Cyprus has a value of -4539954387.59362, significantly below the attribute average of 679559169.5717607. Cyprus ranks 145th out of 159 countries.

Analysis of Portfolio equity, net inflows (BoP, current US$): Cyprus has a value of -138944659.928715, much lower than the attribute average of 9197145994.702154. Cyprus ranks 90th out of 125 countries.

Summary

Cyprus exhibits a concerning trend in foreign direct investment, with net values, both inflows and outflows, notably below global averages. The country ranks poorly in comparison to other nations in terms of FDI as a percentage of GDP. Additionally, Portfolio Investment and Portfolio Equity indicators also show underperformance, highlighting potential challenges in attracting and retaining investment capital. These findings suggest a need for Cyprus to reassess its investment strategies and create a more favorable environment to boost economic growth and competitiveness in the global market.

Broad Trade Attributes

- For Trade (% of GDP), Cyprus has a value of 162.73, which is significantly above the average of 82.34. Cyprus is ranked 11 out of 163 countries in this attribute.

- For Merchandise trade (% of GDP), Cyprus has a value of 46.87, below the average of 60.01. Cyprus is ranked 110 out of 186 countries in this attribute.

- In terms of Trade in services (% of GDP), Cyprus performs remarkably well with a value of 116.93, far above the average of 24.63. Cyprus holds the 5th rank out of 171 countries for this metric.

- Concerning External balance on goods and services (current US$), Cyprus has a negative value of -344,660,116.55, significantly below the average of $3,405,509,011.13. Cyprus ranks 87 out of 163 countries in this aspect.

- Lastly, for External balance on goods and services (% of GDP), Cyprus has a negative value of -1.37, below the average of -5.97. Cyprus ranks 74 out of 163 countries based on this metric.

Summary

Cyprus stands out for its high Trade (% of GDP) and exceptional performance in Trade in services (% of GDP), ranking notably above the global averages and positioning relatively well compared to other countries in these areas. However, Cyprus faces challenges in terms of Merchandise trade (% of GDP) and External balance on goods and services, where it falls below the average values, indicating potential areas for improvement in its trade dynamics. These indicators are crucial as they provide insights into Cyprus' economic openness, the structure of its trade, and its external economic stability, influencing its overall economic resilience and competitiveness in the global market.

Net Trade

For the attribute "Current account balance (BoP, current US$)", Cyprus has a value of -2,522,911,145.79 which is significantly below the average of $1,443,864,831.49. Cyprus ranks 138 out of 170 countries in this attribute.

Regarding "Current account balance (% of GDP)", Cyprus's value of -10.00% is notably lower than the average of -2.36%. The country is ranked 142 out of 170 countries for this statistic.

For "Net trade in goods and services (BoP, current US$)", Cyprus records a value of -332,198,717.58, falling short of the average of $2,604,730,003.57. Cyprus is ranked 89 out of 171 countries in this attribute.

For "Net primary income (BoP, current US$)", Cyprus's value of -1,780,513,286.49 is below the average of -$903,807,529.74. Cyprus ranks 119 out of 170 countries for this attribute.

With "Net secondary income (BoP, current US$)", Cyprus has a value of -410,199,141.71, below the average of -$269,227,340.40. The country is ranked 133 out of 170 countries for this statistic.

When it comes to "Net trade in goods (BoP, current US$)", Cyprus's value of -4,842,071,102.87 is notably under the average of $1,302,831,005.68. Cyprus ranks 136 out of 171 countries in this attribute.

Regarding "Net capital account (BoP, current US$)", Cyprus's value of -23,794,413.78 is below the average of $136,543,824.05. Cyprus is ranked 130 out of 159 countries for this statistic.

Lastly, for "Net financial account (BoP, current US$)", Cyprus records a value of -2,309,329,514.94 which is notably lower than the average of -$469,840,994.63. Cyprus ranks 135 out of 170 countries in this attribute.

Summary

Cyprus demonstrates a consistent pattern of negative values across key macroeconomic indicators related to its current account balance, trade in goods and services, primary and secondary income, as well as capital and financial accounts. These indicators collectively point towards significant imbalances in Cyprus' international trade and financial transactions, highlighting potential vulnerabilities in its economy. Addressing these imbalances is crucial for Cyprus to strengthen its overall economic resilience and sustainability in the global market.

Broad Export Attributes

Analysis of key statistical attributes for Cyprus:

1. Exports of goods, services and primary income (BoP, current US$): Cyprus's value of $42,690,696,559.24 is below the average of $146,238,908,936.30. Cyprus ranks 55th out of 170 countries for this attribute.

2. Exports of goods and services (BoP, current US$): Cyprus's value of $20,379,031,325.74 is significantly below the average of $122,938,540,059.78. Cyprus ranks 73rd out of 170 countries for this attribute.

3. Exports of goods and services (current US$): Cyprus's value of $20,353,931,326.57 is notably below the average of $129,596,864,610.19. Cyprus ranks 72nd out of 163 countries for this attribute.

4. Exports of goods and services (% of GDP): Cyprus's value of 80.68% is well above the average of 38.19%. Cyprus ranks 10th out of 163 countries for this attribute.

5. Goods exports (BoP, current US$): Cyprus's value of $3,375,193,283.99 is significantly below the average of $93,310,581,697.39. Cyprus ranks 116th out of 171 countries for this attribute.

6. International tourism, receipts (% of total exports): Cyprus's value of 3.25% is below the average of 9.74%. Cyprus ranks 65th out of 120 countries for this attribute.

7. ICT goods exports (% of total goods exports): Cyprus's value of 1.91% is below the average of 3.81%. Cyprus ranks 45th out of 142 countries for this attribute.

Summary

Cyprus exhibits below-average performance in various key macroeconomic indicators related to its exports of goods and services. It ranks lower than the global average across several categories such as total exports, goods exports, and international tourism receipts. However, Cyprus stands out for its high percentage of goods and services exports relative to its GDP, ranking 10th globally. These statistics are crucial as they reflect Cyprus's economic reliance on exports and its competitiveness in the global market, highlighting areas where the country may need to focus on improving to enhance its economic growth and stability.

Merchandise Exports

Analysis of key statistics for Cyprus:

1. Merchandise exports (current US$): Cyprus has a focus country value of $3,063,000,000, ranking 124th out of 187 countries. This value is significantly below the attribute average of $89,542,711,229.95.

2. Agricultural raw materials exports (% of merchandise exports): Cyprus's value of 0.80% is below the attribute average of 2.97%. It ranks 94th out of 151 countries in this category.

3. Food exports (% of merchandise exports): Cyprus performs relatively well in food exports, with a value of 33.38%, exceeding the attribute average of 24.06%. The country ranks 36th out of 152 countries.

4. Fuel exports (% of merchandise exports): With a value of 20.04%, Cyprus is above the attribute average of 13.70%. It ranks 32nd out of 147 countries.

5. Ores and metals exports (% of merchandise exports): Cyprus's value of 4.87% is below the attribute average of 9.10%. This places Cyprus at the 59th position out of 152 countries.

6. Merchandise exports by the reporting economy, residual (% of total merchandise exports): Cyprus has a value of 6.95%, exceeding the attribute average of 3.20%. It holds the 18th rank out of 166 countries in this category.

Summary

Cyprus has a lower than average value in merchandise exports, ranking 124th globally. However, the country excels in food exports, exceeding the global average and securing the 36th position. These indicators are important as they reflect Cyprus's trade strengths and weaknesses, highlighting areas where the country can potentially focus on for economic growth and diversification.

Technology Exports

1. Manufactures exports (% of merchandise exports): Cyprus's value of 35.61% is below the average of 42.62%. It ranks 81 out of 152 countries in this attribute.

2. High-technology exports (current US$): Cyprus's value of $62,939,856 is significantly below the average of $16,655,934,078.80. It ranks 84 out of 151 countries in this attribute.

3. High-technology exports (% of manufactured exports): Cyprus's value of 12.24% is above the average of 10.15%. It ranks 41 out of 150 countries in this attribute.

4. Medium and high-tech exports (% manufactured exports): Cyprus's value of 40.46% is above the average of 34.29%. It ranks 59 out of 149 countries in this attribute.

Summary

Cyprus has a lower than average percentage of manufactures exports and high-technology exports in comparison to other countries. However, it performs above average in the percentage of high-technology exports in its manufactured exports and medium and high-tech exports. These indicators are crucial as they reflect Cyprus's economic diversification, technological advancement, and competitiveness in the global market.

Service Exports

Service exports (BoP, current US$): Cyprus has a value of $17,003,838,041.76 for this attribute, which is below the average of $28,917,292,503.82. Cyprus ranks 40th out of 171 countries in this dataset.

ICT service exports (BoP, current US$): The focus country, Cyprus, has a value of $4,292,337,0.39 for this attribute, slightly below the average of $4,578,501,153.77. Cyprus ranks 29th out of 166 countries.

ICT service exports (% of service exports, BoP): Cyprus excels in this attribute with a value of 25.25%, much higher than the average of 11.75%. Cyprus ranks 18th out of 166 countries.

Communications, computer, etc. (% of service exports, BoP): Cyprus falls below the average with a value of 39.09% compared to 45.85%. The country ranks 102nd out of 169 countries.

Transport services (% of service exports, BoP): Cyprus's value of 21.77% is very close to the average of 21.80%. Cyprus ranks 68th out of 169 countries.

Travel services (% of service exports, BoP): Cyprus lags in this attribute with a value of 4.32%, significantly lower than the average of 26.40%. The country ranks 150th out of 167 countries.

Insurance and financial services (% of service exports, BoP): Cyprus excels in this attribute with a value of 34.32%, far higher than the average of 6.46%. Cyprus ranks 3rd out of 161 countries.

Summary

Cyprus demonstrates strengths in ICT service exports and insurance/financial services exports, showcasing competitive advantages in these sectors compared to global averages. However, the country faces challenges in travel services exports, indicating potential areas for growth and development. These findings are crucial for policymakers and businesses as they highlight Cyprus's relative positioning in key service export categories, guiding strategic decisions to capitalize on strengths and improve weaker areas for economic growth and competitiveness.

Commercial Service Exports

Analysis of key commercial service export attributes for Cyprus:

Summary

Cyprus has a significant commercial service export value of $16,838,293,145.78, ranking 40th out of 171 countries analyzed, which is below the dataset average. The country excels in insurance and financial services export, with a percentage of 34.65%, ranking 4th out of 161 countries, well above the dataset average of 6.97%. However, Cyprus lags behind in travel services export, with only 4.36%, ranking at 153 out of 167 countries.

These findings are crucial as they highlight Cyprus's comparative advantages and areas for potential growth in the services sector. Improving travel services exports could enhance revenue streams, while maintaining and further developing its strength in insurance and financial services can contribute significantly to the country's economic resilience and competitiveness in the global market.

Broad Import Attributes

Imports of goods and services (current US$): Cyprus has a value of 20,698,591,443.12, which is below the average of 126,191,355,599.06. Cyprus ranks 71 out of 163 countries in this attribute.

Imports of goods and services (% of GDP): Cyprus's value of 82.05% is above the average of 44.15%. The country ranks 13 out of 163 countries in this attribute.

International tourism, expenditures (% of total imports): Cyprus's value of 4.25% is slightly above the average of 3.98%. The country ranks 36 out of 131 countries in this attribute.

ICT goods imports (% total goods imports): Cyprus's value of 4.54% is below the average of 6.85%. The country ranks 87 out of 143 countries in this attribute.

Goods imports (BoP, current US$): Cyprus's value of 8,217,264,386.86 is significantly below the average of 92,007,788,027.17. The country ranks 93 out of 171 countries in this attribute.

Imports of goods and services (BoP, current US$): Cyprus's value of 20,711,230,043.33 is below the average of 120,321,577,988.12. The country ranks 71 out of 170 countries in this attribute.

Imports of goods, services and primary income (BoP, current US$): Cyprus records 44,803,408,563.32, significantly below the average of 144,514,428,722.28. Cyprus holds the 59th position out of 170 countries in this attribute.

Summary

Cyprus exhibits a pattern of below-average import values across key indicators such as total imports of goods and services, goods imports, and overall imports in both current US dollars and as a percentage of GDP. Despite ranking moderately in some attributes such as International tourism expenditures, the country's import figures suggest a potential imbalance in trade which could impact its economic stability and growth trajectory. Addressing this imbalance through strategic trade policies and diversification efforts may be crucial for enhancing Cyprus's economic resilience and competitiveness in the global market.

Merchandise Imports

1. Cyprus has merchandise imports totaling $8,761,000,000, which is below the average of $89,385,605,263. The country ranks 96 out of 190 countries in this attribute.

2. In terms of Manufactures imports (% of merchandise imports), Cyprus stands at 68.66%, slightly above the average of 66.76%. The country ranks 69 out of 152 countries.

3. Cyprus imports 0.54% of Agricultural raw materials, lower than the average of 1.27%. This places Cyprus at the 129th rank out of 152 countries.

4. Food imports in Cyprus account for 14.89% of merchandise imports, slightly below the average of 15.89%. Cyprus ranks 71 out of 152 countries in this aspect.

5. Fuel imports in Cyprus stand at 13.99% of merchandise imports, higher than the average of 11.38%. Cyprus is ranked 45 out of 152 countries in this category.

6. Ores and metals imports in Cyprus contribute to 0.70% of merchandise imports, significantly below the average of 2.57%. Cyprus holds the 128th position out of 152 countries in this attribute.

7. The residual merchandise imports by Cyprus constitute 9.97% of total merchandise imports, much higher than the average of 2.51%. Cyprus is ranked 8 out of 180 countries in this attribute.

Summary

Cyprus has below-average total merchandise imports, with a notable portion consisting of manufactures. The country also sources a lower percentage of agricultural raw materials but has higher-than-average imports of food and fuel. However, Cyprus significantly lags in ores and metals imports compared to the global average. The substantial residual merchandise imports indicate diverse sourcing. These indicators are crucial for understanding Cyprus' trade dynamics and economic dependency on different sectors, showcasing both strengths and potential vulnerabilities in its import structure.

Service Imports

Analysis of Service imports (BoP, current US$): Cyprus's value for service imports is $12,493,965,656.47, which is below the average of $27,615,356,170.47. Cyprus ranks 48 out of 171 countries in this attribute.

Analysis of Communications, computer, etc. (% of service imports, BoP): Cyprus's percentage for this category is 45.42%, slightly above the average of 44.40%. Cyprus ranks 87 out of 169 countries in this attribute.

Analysis of Transport services (% of service imports, BoP): Cyprus allocates 17.20% to transport services, below the average of 32.90%. Cyprus ranks 146 out of 169 countries in this attribute.

Analysis of Travel services (% of service imports, BoP): In travel services, Cyprus's allocation is 6.02%, lower than the average of 14.14%. Cyprus ranks 130 out of 169 countries in this attribute.

Analysis of Insurance and financial services (% of service imports, BoP): Cyprus dedicates 31.35% to insurance and financial services, significantly above the average of 8.53%. Cyprus ranks 3 out of 169 countries in this attribute.

Summary

Cyprus has a below-average value for service imports at $12,493,965,656.47, ranking 48th out of 171 countries. Interestingly, Cyprus allocates a higher percentage to Communications, computer, etc. services and Insurance and financial services compared to the global average. This strategic allocation may indicate a focus on technology and financial industries for economic growth and development.

Commercial Service Imports

Analysis of key attributes for Cyprus:

Summary

In analyzing key attributes for Cyprus, it is evident that the country has below-average commercial service imports at $12,427,307,117.997. However, Cyprus excels in the provision of insurance and financial services, surpassing the average by a significant margin and securing the 3rd rank globally for this attribute. This specialization highlights Cyprus's competitive advantage in financial services and indicates a strategic focus on this sector for economic growth and diversification.

Infrastructure

1. Air transport, freight (million ton-km): Cyprus's value of 0.328962 is significantly below the average of 1384.3654403116147. With a rank of 113 out of 126 countries, Cyprus lags behind in this aspect.

2. Air transport, registered carrier departures worldwide: Cyprus has 1118 departures, well below the average of 134365.60535838926 departures. Ranked 134 out of 149 countries, Cyprus is below par compared to other nations.

3. Air transport, passengers carried: Cyprus transported 104559 passengers, much lower than the average of 11848242.70036577 passengers. With a rank of 121 out of 149 countries, Cyprus falls behind in passenger transportation.

4. Container port traffic (TEU: 20 foot equivalent units): Cyprus handled 390504 TEUs, below the average of 6907110.268181819 TEUs. Ranked 88 out of 110 countries, Cyprus's container port traffic is below the global average.

Summary

Cyprus lags significantly behind the global average in key macroeconomic indicators related to air transport and container port traffic. With low values in metrics such as air freight, registered carrier departures, passengers carried, and container port traffic, Cyprus faces challenges in establishing efficient transportation networks crucial for trade, connectivity, and economic growth. Addressing these deficiencies is vital for Cyprus to enhance its competitiveness, attract investments, and integrate effectively into the global economy.

Information Technology Infrastructure

For Secure Internet servers, Cyprus has 30,171 servers, which is below the average of 458,294. Cyprus ranks 55th out of 193 countries in this attribute.

Regarding Secure Internet servers (per 1 million people), Cyprus has 24,379.88 servers per 1 million people, exceeding the average of 14,067.17. Cyprus holds the 31st position out of 193 countries.

Cyprus excels in Individuals using the Internet (% of population) with 90.80% of its population online, surpassing the average of 64.77%. Cyprus ranks 29th out of 180 countries in this category.

For Fixed broadband subscriptions, Cyprus has 332,080 subscriptions, falling below the average of 6,591,956.35. Cyprus ranks 99th out of 185 countries.

In Mobile cellular subscriptions, Cyprus has 1,239,960 subscriptions, which is below the average of 42,526,463.87. Cyprus holds the 154th position out of 193 countries.

Summary

Cyprus performs above the global average in Secure Internet servers per 1 million people and Individuals using the Internet. However, it falls below the average in Fixed broadband subscriptions and Mobile cellular subscriptions. These indicators are crucial as they reflect Cyprus' connectivity infrastructure and digital adoption levels, which are essential for economic competitiveness and social development in the modern era.

Energy Consumption

Regarding Renewable energy consumption (% of total final energy consumption): Cyprus consumes 15.02% of its total final energy from renewable sources, below the average of 32.18%. It ranks 120th out of 191 countries in this statistic.

As for CO2 emissions (kt): Cyprus emits 6771.8 kilotons of CO2, significantly below the average of 171895.94 kt. It also holds the 120th rank out of 188 countries in this category.

Summary

Cyprus's consumption of renewable energy is relatively low compared to the global average, with only 15.02% of its total final energy coming from renewable sources. This places Cyprus at the 120th position out of 191 countries. Furthermore, the country's CO2 emissions are notably lower than the worldwide average, with 6771.8 kilotons emitted, positioning Cyprus at the 120th rank out of 188 nations in this aspect.

These statistics are crucial as they highlight Cyprus's current standing in renewable energy adoption and environmental impact. The low percentage of renewable energy consumption indicates room for growth in sustainable energy practices, while the lower CO2 emissions signify positive environmental stewardship. Addressing these areas can not only enhance Cyprus's environmental sustainability but also potentially influence its global standing and relationships through environmental diplomacy and climate change mitigation efforts.

Government Balance Sheet

1. Reserves and related items (BoP, current US$): Cyprus has a value of approximately $817.76 million for this attribute, which is significantly below the average of around $1,924.41 million. Cyprus ranks 44th out of 171 countries in this dataset.

2. Total reserves minus gold (current US$): Cyprus's value for this attribute is about $392.00 million, much lower than the average of approximately $74,221.59 million. This places Cyprus at 145th out of 161 countries.

3. Total reserves (includes gold, current US$): Cyprus has total reserves valued at around $1,237.73 million, well below the average of about $85,708.20 million. Cyprus ranks 121st out of 161 countries for this attribute.

4. Total reserves in months of imports: Cyprus's value, representing 0.33 months of imports, is significantly lower than the average of 7.10 months. Cyprus ranks 148th out of 151 countries in this dataset.

Summary

Cyprus faces challenges in terms of its reserves and related items, with values well below global averages across multiple indicators such as total reserves minus gold and total reserves in months of imports. This indicates a potential vulnerability in its economy and ability to weather external shocks or fluctuations in trade. It is crucial for Cyprus to closely monitor and manage its reserves to ensure economic stability and resilience in the face of uncertainties.

Government Revenue

1. For Revenue, excluding grants (% of GDP), Cyprus's value is 36.98%, above the average of 27.02%. This places Cyprus at rank 23 out of 122 countries.

2. Social contributions (% of revenue) in Cyprus account for 29.52% of its revenue, higher than the average of 22.29%. Cyprus ranks 33 out of 81 countries for this attribute.

3. Taxes on goods and services (% of revenue) constitute 31.71% of Cyprus's revenue, slightly below the average of 31.82%. Cyprus is ranked 64 out of 122 countries.

4. Other taxes (% of revenue) in Cyprus make up 3.74% of its revenue, significantly higher than the average of 2.12%. Cyprus ranks 18 out of 106 countries in this aspect.

5. Taxes on income, profits, and capital gains (% of revenue) for Cyprus represent 24.66% of revenue, very close to the average of 24.66%. Cyprus's rank is 56 out of 119 countries for this attribute.

Summary

Cyprus demonstrates a strong revenue performance compared to global averages, with a high percentage of revenue coming from social contributions and other taxes. The country's reliance on these sources of revenue places it above average rankings in these categories globally. This indicates a significant emphasis on social welfare and alternative tax revenue streams, potentially leading to a more stable fiscal position and better social protection programs.

Taxes

Tax revenue (% of GDP): Cyprus has a tax revenue of 22.23% of its GDP, which is above the average of 16.72%. This places Cyprus at rank 24 out of 123 countries included in the data.

Taxes on income, profits and capital gains (% of total taxes): With a value of 41.03%, Cyprus exceeds the average of 38.40%. Cyprus is ranked 47 out of 120 countries for this attribute.

Tariff rate, applied, weighted mean, all products (%): Cyprus has a low tariff rate of 1.48%, significantly below the average of 5.21%. This places Cyprus at rank 115 out of 153 countries analyzed.

Summary

Cyprus demonstrates a strong reliance on tax revenue, with tax revenue comprising 22.23% of its GDP and taxes on income, profits, and capital gains at 41.03% of total taxes. Furthermore, the country maintains a competitive edge in international trade with a low weighted mean tariff rate of 1.48%. These indicators suggest that Cyprus has a robust fiscal system that prioritizes tax collection and maintains an open stance on international trade, which can foster economic stability and attract foreign investment.

Government Expenses

Expense (% of GDP): Cyprus spends 42.11% of its GDP on expenses, which is above the average of 31.69%. This puts Cyprus at rank 26 out of 123 countries.

Compensation of employees (% of expense): Cyprus allocates 28.85% of its expenses to employee compensation, higher than the average of 24.70%. This places Cyprus at rank 45 out of 123 countries.

Goods and services expense (% of expense): Cyprus spends 8.28% on goods and services, below the average of 14.77%. Cyprus is ranked 90 out of 122 countries.

Interest payments (% of expense): Cyprus dedicates 4.88% of its expenses to interest payments, which is lower than the average of 6.85%. Cyprus holds rank 61 out of 121 countries.

Other expense (% of expense): Cyprus utilizes 9.27% of its expenses for other purposes, slightly above the average of 8.29%. Cyprus is at rank 37 out of 120 countries.

Subsidies and other transfers (% of expense): Cyprus spends 48.73% on subsidies and transfers, surpassing the average of 43.29%. Cyprus is ranked 45 out of 121 countries.

Summary

Cyprus demonstrates a significant allocation of its GDP to expenses, surpassing the global average. The country's emphasis on employee compensation, although higher than average, aligns with its prioritization of subsidies and transfers, indicating a balance between rewarding human capital and supporting the economy. Moreover, Cyprus' lower expenditure on goods and services and interest payments, compared to the global average, highlights potential areas for optimization and efficiency.

These statistics are crucial as they offer insights into Cyprus's fiscal management, reflecting its priorities and strategies in resource allocation. By comparing its rankings with global averages, policymakers can identify areas of strength and weakness, facilitating informed decision-making to enhance economic stability and growth.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Services, value added (% of GDP) 11/183
Trade (% of GDP) 11/163
Trade in services (% of GDP) 5/171
Exports of goods and services (% of GDP) 10/163
Insurance and financial services (% of service exports, BoP) 3/161
Insurance and financial services (% of commercial service exports) 4/161
Imports of goods and services (% of GDP) 13/163
Merchandise imports by the reporting economy, residual (% of total merchandise imports) 8/180
Insurance and financial services (% of service imports, BoP) 3/169
Insurance and financial services (% of commercial service imports) 3/169

Ranks in Bottom Decile For:

Attribute Rank/Total
Fertility rate, total (births per woman) 180/190
Total natural resources rents (% of GDP) 167/175
Forest rents (% of GDP) 167/174
Mineral rents (% of GDP) 79/86
Patent applications, nonresidents 127/129
Patent applications, residents 115/117
Inflation, consumer prices (annual %) 149/165
Foreign direct investment, net (BoP, current US$) 156/169
Foreign direct investment, net inflows (BoP, current US$) 179/182
Foreign direct investment, net inflows (% of GDP) 178/178
Foreign direct investment, net outflows (BoP, current US$) 153/156
Foreign direct investment, net outflows (% of GDP) 155/155
Portfolio Investment, net (BoP, current US$) 145/159
Travel services (% of commercial service exports) 153/167
Total reserves minus gold (current US$) 145/161
Total reserves in months of imports 148/151