2020 Cyprus Country Report
The 2020 Cyprus Country Report features in-depth articles on the economy, foreign direct investment, international trade and headquartering as well as detailed sector profiles and insights from Cyprus’ 100 most influential political, economic and business leaders shaping the future of their country and its industries.
The 2020 Cyprus Country Report features in-depth articles on the economy, foreign direct investment, international trade and headquartering as well as detailed sector profiles and insights from Cyprus’ 100 most influential political, economic and business leaders shaping the future of their country and its industries.
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Publisher’s <strong>Cyprus</strong> Information<br />
a Glance<br />
Business FIGURES<br />
GDP BY SECTOR<br />
TOTAL GDP<br />
€21.9 billion<br />
(2019)<br />
CORPORATE TAX RATE<br />
12.5%<br />
TIME TO START UP A BUSINESS<br />
1-3 days<br />
GDP PER CAPITA<br />
INFLATION<br />
ACCOUNTING STANDARD<br />
13.1%<br />
Taxes &<br />
subsidies<br />
71.9%<br />
Services<br />
€24,925<br />
(2019)<br />
0.5%<br />
(2019)<br />
IFRS<br />
6.1%<br />
Construction<br />
6.9%<br />
Mining,<br />
manufacturing,<br />
electricity & water<br />
2%<br />
Agriculture,<br />
forestry & fishing<br />
37th<br />
Economic Freedom Index <strong>2020</strong><br />
Heritage Foundation<br />
(out of 186 countries)<br />
GDP GROWTH<br />
3.2%<br />
(2019)<br />
INTERNATIONAL RANKINGS<br />
29th<br />
Global Innovation Index <strong>2020</strong><br />
INSEAD and the World Intellectual<br />
Property Organization<br />
(out of 131 countries)<br />
UNEMPLOYMENT<br />
6.9%<br />
(July <strong>2020</strong>)<br />
45th<br />
in World Happiness<br />
<strong>Report</strong> <strong>2020</strong><br />
(out of 153 countries)<br />
CRIME<br />
0.9 per<br />
100 persons<br />
<strong>Cyprus</strong> is the safest<br />
country in the world for<br />
young people out of 184<br />
countries across the globe.<br />
(World Health Organisation<br />
WHO 2017)<br />
Enforcing<br />
Contracts<br />
Dealing with<br />
Construction<br />
Permits<br />
Overall Doing Business ranking: 54th<br />
(out of 190 economies)<br />
Starting a<br />
Business<br />
Getting<br />
Electricity<br />
Registering<br />
Property<br />
Getting<br />
Credit<br />
Protecting<br />
Minority<br />
Investors<br />
Paying<br />
Taxes<br />
Trading<br />
across<br />
Borders<br />
Resolving<br />
Insolvency<br />
50 th 125 th 75 th 71 st 80 th 21 st 29 th 50 th 142 nd 31 st<br />
STANDARD<br />
& POOR’S<br />
BBB-<br />
(September <strong>2020</strong>)<br />
FITCH<br />
BBB-<br />
(September <strong>2020</strong>)<br />
MOODY’S<br />
Ba2<br />
(September <strong>2020</strong>)<br />
UK<br />
Germany<br />
Italy<br />
France<br />
Greece<br />
MAIN TRADING PARTNERS<br />
Israel<br />
China<br />
14 <strong>Country</strong> <strong>Report</strong> CYPRUS <strong>2020</strong>
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