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Cyprus Real GDP

Cyprus' real GDP rose to $31.02 billion in 2024, up from $29.98 billion in 2023, according to World Bank. This represents an increase of 3.4% ($1.03 billion) from the previous year and accounts for 0.03% of the world's total real GDP. Cyprus has real GDP higher than the global median ($31.02 billion vs median $29.34 billion). Compared with the median in Europe, Cyprus is lower ($31.02 billion vs regional median $78.54 billion) and ranks 33rd out of 47 countries in Europe.

Cyprus' GDP per capita rose to $32,998.67 in 2024, up from $32,340.84 in 2023.

Yearly Historical Data (1975-2024)

(in Billion USD)
Year Real GDP (Billion USD)
2024 31.02
2023 29.98
2022 29.18
2021 27.22
2020 24.43
2019 25.25
2018 23.85
2017 22.44
2016 21.22
2015 19.91
2014 19.25
2013 19.6
2012 20.98
2011 21.73
2010 21.64
2009 21.16
2008 21.59
2007 20.83
2006 19.82
2005 18.93
2004 18.05
2003 17.19
2002 16.75
2001 16.15
2000 15.53
1999 14.66
1998 13.96
1997 13.16
1996 12.82
1995 12.66
1994 11.68
1993 11.03
1992 10.96
1991 10.02
1990 9.94
1989 9.26
1988 8.58
1987 7.89
1986 7.37
1985 7.11
1984 6.78
1983 6.23
1982 5.9
1981 5.57
1980 5.43
1979 5.14
1978 4.67
1977 4.34
1976 3.73
1975 3.1
Cyprus Real GDP : Definition
Real GDP is defined as the value of all goods and services produced in Cyprus, measured in US dollars adjusted to 2015 prices. By fixing prices to a base year, it removes the effect of inflation, so this represents real GDP rather than nominal GDP.
Indicator Last Value Prior Value Period
GDP $36.33B $33.89B 2024
GDP Annual Growth Rate 3.45% 2.76% 2024
GDP per Capita $32,998.67 $32,340.84 2024
GDP per Capita PPP $53,252.46 $52,190.88 2024
R&D Expenditure (% GDP) 0.75% 0.8% 2022