2023 Doing Business in Cyprus (UK Edition)
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DOING BUSINESS C YPRUS<br />
10<br />
UNITED KINGDOM EDITION<br />
CYPRUS<br />
BUSINESS<br />
FIGURES<br />
TOTAL GDP<br />
€27.8<br />
billion<br />
(2022)<br />
GDP PER CAPITA<br />
€30,434<br />
(2022)<br />
12%<br />
Taxes & Subsidies<br />
4.8%<br />
Construction<br />
7.3%<br />
M<strong>in</strong><strong>in</strong>g, manufactur<strong>in</strong>g,<br />
electricity & water<br />
GDP<br />
BY SECTOR<br />
74.3%<br />
Services<br />
1.6%<br />
Agriculture,<br />
forestry & fish<strong>in</strong>g<br />
UNEMPLOYMENT<br />
6.8%<br />
(2022)<br />
GDP GROWTH<br />
5.6%<br />
(2022)<br />
INFLATION<br />
8.1%<br />
(2022)<br />
INTERNATIONAL RANKINGS<br />
Standard & Poor’s<br />
BBB<br />
CORPORATE<br />
TAX RATE<br />
12.5%<br />
TIME TO START<br />
UP A BUSINESS<br />
1.3 days<br />
ACCOUNTING<br />
STANDARD<br />
IFRS<br />
Fitch<br />
BBB Moody’s<br />
Baa2<br />
(November <strong>2023</strong>)<br />
MAIN TRADING PARTNERS<br />
<strong>UK</strong><br />
Germany<br />
Italy<br />
France<br />
Israel<br />
Greece<br />
Ch<strong>in</strong>a<br />
CRIME<br />
1.29<br />
per 100k<br />
population
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