As per International Monetary Fund (IMF)
Cyprus’s nominal gross domestic product is expected to grow at a CAGR of 3.44%
from it’s 2015 level of Euro 17.637 billion and reach Euro 22.353 billion by
2022.
The Republic of Cyprus, a European Union (EU)
island member state in the Eastern Mediterranean Sea, is located to the east of
Greece, south of Turkey, west of Israel and Lebanon, and north of Egypt. A
former British colony, Cyprus has been an independent state since 1960. The
Republic has been a member state of the European Union since 1 May 2004. Cyprus
adopted the euro (EUR) as its national currency on 1 January 2008. Nicosia is
the capital city; other main cities include Limassol, Larnaca, and Paphos.
Cyprus had estimated population of 0.848
million in the year 2016 and expected to reach 0.88 million by 2022. Cyprus's
around 0.365 million was employed in 2016 and the unemployment rate was 12.907%
of total labor force.
Cyprus's real gross domestic product (GDP)
was around Euro 15.79 billions in 2016 whereas the nominal GDP was Euro 17.901
billions. This resulted in GDP deflator 113.372. Per capita GDP was estimated
at USD 23351.87 whereas purchasing power parity (PPP) based per capita GDP was
estimated to be at USD 34970.30. The output gap for Cyprus in 2016 was negative
at 3.277% of the potential GDP .
In 2016, Cyprus government's revenue was Euro
6.92 billions whereas the expenditure was Euro 6.98 billions. This resulted
Cyprus government's net lending / borrowing negative at Euro 0.06 billion in
2016 indicating that enough financial resources were not made available by the
government to boost economic growth.
The current account balance for Cyprus was
estimated to be negative at USD 0.481 billions for the year 2016 and is
expected to decline at a CAGR of 1,41% and reach USD 0.516 by 2022. This
negative current account balance indicates the Cyprus is a net borrower from
the whole world.
Scope of the Cyprus PESTEL
Analysis, SWOT Analysis and Risk Analysis Market Research Reports
- These reports provide information about key macroeconomic indicators for Cyprus.
- These reports provide PESTELE (political, economic, social, technological, environmental and legal) analysis for Cyprus.
- These reports provide SWOT (strengths, weaknesses, opportunities and threats) analysis for Cyprus.
- These reports provide risk analysis for Cyprus.
For more information and to purchase Cyprus PESTEL Analysis Market Research
Report please visit: https://www.marketresearchreports.com/market-research-reports-inc/cyprus-pestel-analysis-market-research-report
For more information and to purchase Cyprus SWOT Analysis Market Research Report
please visit: https://www.marketresearchreports.com/market-research-reports-inc/cyprus-swot-analysis-market-research-report
For more information and to purchase Cyprus Risk Analysis Market Research Report
please visit: https://www.marketresearchreports.com/market-research-reports-inc/cyprus-risk-analysis-market-research-report
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