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Economy of Cyprus vs Egypt compared: GDP & Debt

Updated on by Georank team

Cyprus has a GDP of $37.6B compared to $389B for Egypt, ranking 103/197 and 41/197 by economy size, respectively.

Cyprus has $24.5B in government debt (65.1% of GDP), compared to $354B (90.9% of GDP) in Egypt.

Cyprus vs Egypt GDP by year

Cyprus
Egypt
1x
Year GDP, current $
Cyprus Egypt
2024 $37,634,533,332 $389,059,911,004
2023 $35,075,423,857 $395,926,075,163
2022 $31,218,038,929 $476,747,720,365
2021 $30,372,642,502 $424,671,765,456
2020 $25,555,093,854 $383,817,841,547
2019 $26,196,667,100 $318,678,815,490
2018 $25,754,001,368 $262,588,632,527
2017 $22,946,570,629 $248,362,771,739
2016 $21,046,462,281 $332,441,717,791
2015 $19,909,278,417 $329,366,576,819
2014 $23,225,918,260 $305,595,408,895
2013 $23,959,712,861 $288,434,108,527
2012 $25,047,436,975 $279,116,666,667
2011 $27,641,549,302 $235,989,672,978
2010 $25,799,940,078 $218,983,666,062
2009 $26,048,179,949 $189,147,005,445
2008 $27,844,646,258 $162,818,181,818
2007 $23,968,727,074 $130,437,828,371
2006 $20,072,754,987 $107,426,086,957
2005 $18,433,412,511 $89,660,339,660
2004 $17,320,551,250 $78,782,467,532
2003 $14,547,329,558 $80,288,461,538
2002 $11,420,228,846 $85,146,067,416
2001 $10,397,898,907 $96,684,636,119
2000 $9,985,847,314 $99,838,543,960
1999 $10,497,907,228 $90,710,704,807
1998 $10,248,618,778 $84,828,807,556
1997 $9,547,816,420 $78,436,578,171
1996 $10,011,914,680 $67,629,716,981
1995 $9,933,137,128 $60,159,245,060
1994 $7,425,703,929 $51,897,983,393
1993 $6,590,291,048 $46,578,631,453
1992 $6,912,150,456 $41,855,986,519
1991 $5,770,197,348 $37,387,836,491
1990 $5,591,130,218 $42,978,914,311
1989 $4,563,482,604 $39,756,299,050
1988 $4,278,792,597 $34,980,124,929
1987 $3,704,813,886 $40,455,616,654
1986 $3,090,734,463 $41,253,507,951
1985 $2,430,411,900 $39,053,502,251
1984 $2,278,248,953 $33,971,188,992
1983 $2,160,364,071 $30,966,239,814
1982 $2,159,242,417 $27,655,172,414
1981 $2,087,496,374 $22,136,081,081
1980 $2,154,311,277 $21,669,908,176
1979 $1,288,699,776 $18,020,571,429
1978 $964,024,364 $14,811,704,063
1977 $734,876,021 $14,400,806,876
1976 $576,090,074 $13,315,988,083
1975 $489,912,574 $11,632,178,869
1974 - $9,228,963,225
1973 - $10,098,534,613
1972 - $9,299,638,056
1971 - $8,609,283,346
1970 - $8,042,200,452
1969 - $6,524,455,206
1968 - $5,932,242,991
1967 - $5,605,484,299
1966 - $5,278,005,612
1965 - $4,948,667,540
1964 - $4,709,245,762
1963 - $4,187,146,232
1962 - $4,035,462,027
1961 - $4,494,575,611
1960 - $4,206,270,352

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/cyprus/egypt | CC BY

GDP per capita in Cyprus vs Egypt by year

Cyprus
GDP per capita

GDP per capita, PPP
Egypt
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cyprus Egypt
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $27,707 $63,007 $3,338 $19,094
2023 $26,079 $59,875 $3,457 $18,525
2022 $23,448 $55,876 $4,233 $17,527
2021 $23,057 $47,633 $3,827 $15,579
2020 $19,624 $42,569 $3,511 $15,232
2019 $20,360 $44,394 $2,963 $13,364
2018 $20,267 $40,262 $2,485 $12,329
2017 $18,295 $37,768 $2,395 $11,125
2016 $17,013 $35,247 $3,271 $10,666
2015 $16,326 $31,380 $3,307 $10,903
2014 $19,326 $29,893 $3,133 $10,256
2013 $20,238 $30,416 $3,026 $10,511
2012 $21,493 $31,924 $2,996 $10,342
2011 $24,110 $33,406 $2,591 $8,988
2010 $22,876 $33,502 $2,455 $8,838
2009 $23,480 $33,901 $2,162 $8,465
2008 $25,522 $34,830 $1,896 $8,191
2007 $22,344 $32,888 $1,548 $7,641
2006 $19,037 $30,009 $1,299 $7,079
2005 $17,790 $27,763 $1,106 $6,554
2004 $17,016 $25,942 $991 $6,207
2003 $14,553 $24,278 $1,031 $5,928
2002 $11,636 $23,556 $1,117 $5,753
2001 $10,785 $22,866 $1,295 $5,650
2000 $10,537 $21,296 $1,366 $5,452
1999 $11,273 $19,663 $1,268 $5,121
1998 $11,206 $18,760 $1,213 $4,869
1997 $10,637 $17,781 $1,146 $4,661
1996 $11,373 $17,320 $1,009 $4,434
1995 $11,514 $17,096 $916 $4,235
1994 $8,791 $15,735 $807 $4,048
1993 $7,978 $14,852 $740 $3,895
1992 $8,530 $14,759 $681 $3,784
1991 $7,222 $13,546 $623 $3,627
1990 $7,092 $13,348 $736 $3,566
1989 $5,870 - $701 -
1988 $5,584 - $634 -
1987 $4,908 - $754 -
1986 $4,159 - $790 -
1985 $3,324 - $770 -
1984 $3,167 - $690 -
1983 $3,055 - $648 -
1982 $3,100 - $596 -
1981 $3,030 - $490 -
1980 $3,154 - $493 -
1979 $1,902 - $421 -
1978 $1,434 - $355 -
1977 $1,102 - $353 -
1976 $870 - $335 -
1975 $743 - $299.2 -
1974 - - $243.1 -
1973 - - $272.2 -
1972 - - $256.5 -
1971 - - $243 -
1970 - - $232.3 -
1969 - - $193 -
1968 - - $179.8 -
1967 - - $174.1 -
1966 - - $168.1 -
1965 - - $161.6 -
1964 - - $157.7 -
1963 - - $143.9 -
1962 - - $142.4 -
1961 - - $162.8 -
1960 - - $156.4 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/cyprus/egypt | CC BY

Cyprus' GDP per capita is $27,707, ranking 45/197, compared to $3,338 in Egypt, ranking 138/197. Adjusted for purchasing power (GDP per capita PPP), Cyprus ranks 29th at $63,007, while Egypt ranks 99th at $19,094.

Economic indicators

Cyprus Egypt
Gross domestic product
$37.6B
2024
$389B
2024
GDP rank
103/197
2024
41/197
2024
GDP growth
3.94%
2023-2024
2.4%
2023-2024
GDP per capita
$27,707
2024
$3,338
2024
GDP per capita rank
45/197
2024
138/197
2024
GDP per capita, PPP
$63,007
2024
$19,094
2024
GDP per capita PPP rank
29/197
2024
99/197
2024
Government debt
$24.5B
2024
$354B
2024
Debt-to-GDP ratio
65.1%
2024
90.9%
2024
Government debt per person
$18,034
2024
$3,036
2024
Government debt per person rank
34/185
2024
99/185
2024
Average annual personal income after taxes
$25,384
2026
$1,948
2026
Market capitalization of domestic companies
$10.9B
2024
$42.6B
2024
Number of billionaires
10
2025
5
2025
Income share by richest 10%
26.3%
2023
24.6%
2021
Income share by poorest 10%
3.6%
2023
4.2%
2021
Government expenditure, % of GDP
40%
2024
22.9%
2024
Consumer prices inflation
1.8%
2023-2024
28.3%
2023-2024
Central bank interest rate n/a
21%
2025
Unemployment rate
4.87%
2024
5.95%
2024
Population
1386362
120697176

Spending and national debt comparison by year

Cyprus
Spending

Debt
Egypt
Spending

Debt
1x
Year % of GDP
Cyprus Egypt
Government spending Government debt Government spending Government debt
2024 40% 65.1% 22.9% 90.9%
2023 42% 73.6% 22.7% 95.9%
2022 38% 81.1% 24.9% 88.5%
2021 42.6% 96.5% 25.5% 89.9%
2020 45.9% 113.6% 25.7% 86.2%
2019 40.3% 92.3% 26.9% 80.1%
2018 44.3% 100.7% 28.6% 87.9%
2017 38.4% 96.4% 30.6% 97.8%
2016 39.6% 106.8% 31% 91.6%
2015 43% 111.6% 31.3% 83.8%
2014 52.1% 113% 33.9% 80.9%
2013 42.1% 102.7% 32.9% 79.8%
2012 41.9% 79.2% 29.2% 69.9%
2011 42.1% 64.8% 30.5% 72.8%
2010 41.7% 55.3% 31.4% 69.6%
2009 41.9% 52.8% 32.5% 69.5%
2008 38.2% 44.1% 32.7% 66.8%
2007 37.6% 53.1% 31.3% 76.3%
2006 39.1% 59% 34.5% 85.9%
2005 39.7% 64% 30.3% 98.3%
2004 38.6% 64.7% 30.1% 96.5%
2003 40.4% 63% 30.6% 97.1%
2002 37.4% 61% 30.9% 85.8%
2001 35.7% 57.5% 27.9% 79.1%
2000 35% 56% 26% 71.7%
1999 34.3% 55.7% 26.3% 72.4%
1998 34.4% 55% - 73.8%
1997 34.2% 53.5% - -
1996 32.4% 48.8% - -
1995 30.4% 46.7% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/cyprus/egypt | CC BY

In 2024, Cyprus' government spending was $15B, accounting for 40% of its GDP, while Egypt spent $89.2B, or 22.9% of GDP.

Debt-to-GDP ratio is 65.1% in Cyprus and 90.9% in Egypt, ranking 68/185 and 31/185, respectively.

Government deficit by year

Deficit/surplus
Cyprus

Egypt
1x
Year Deficit/surplus, % of GDP
Cyprus Egypt
2024 4.28% -7.12%
2023 1.7% -5.77%
2022 2.65% -5.74%
2021 -1.64% -6.96%
2020 -5.57% -7.47%
2019 1.03% -7.6%
2018 -3.36% -8.97%
2017 2.13% -9.9%
2016 0.45% -11.8%
2015 -0.77% -10.4%
2014 -8.8% -10.7%
2013 -5.16% -12.3%
2012 -5.55% -9.47%
2011 -5.65% -9.6%
2010 -4.68% -7.45%
2009 -5.43% -6.2%
2008 0.87% -6.05%
2007 3.23% -4.9%
2006 -1.04% -7.35%
2005 -2.22% -6.69%
2004 -3.71% -5.76%
2003 -5.91% -5.73%
2002 -4.13% -6.77%
2001 -2.11% -1.07%
2000 -2.24% 1.32%
1999 -4.05% 2.14%
1998 -3.85% -
1997 -4.82% -
1996 -2.96% -
1995 -0.71% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20).

GeoRank.org/economy/cyprus/egypt | CC BY

In 2024, Cyprus' government surplus, the difference between spending and revenue, was $1.61B, equivalent to 4.28% of GDP. This compares to Egypt's deficit of $27.7B, or 7.12% of GDP.

Over the past 26 years, Cyprus recorded a fiscal deficit in 18 of those years, while Egypt ran a deficit in 24 years. On average, Cyprus posted an annual deficit equal to 2.14% of GDP, compared to deficit of 6.86% of GDP for Egypt.

Inflation comparison by year

Inflation
Cyprus

Egypt
1x
Year Consumer prices inflation
Cyprus Egypt
2024 1.8% 28.3%
2023 3.54% 33.9%
2022 8.4% 13.9%
2021 2.45% 5.21%
2020 -0.64% 5.04%
2019 0.25% 9.15%
2018 1.44% 14.4%
2017 0.53% 29.5%
2016 -1.43% 13.8%
2015 -2.1% 10.4%
2014 -1.35% 10.1%
2013 -0.4% 9.47%
2012 2.39% 7.11%
2011 3.29% 10.1%
2010 2.43% 11.3%
2009 0.33% 11.8%
2008 4.67% 18.3%
2007 2.37% 9.32%
2006 2.3% 7.64%
2005 2.56% 4.87%
2004 2.29% 11.3%
2003 4.14% 4.51%
2002 2.8% 2.74%
2001 1.97% 2.27%
2000 4.14% 2.68%
1999 1.63% 3.08%
1998 2.23% 3.87%
1997 3.61% 4.63%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/cyprus/egypt | CC BY

Over the past 28 years, Cyprus has recorded an average annual inflation rate of 1.99%, compared with 10.7% in Egypt. In 2024, inflation was 1.8% in Cyprus and 28.3% in Egypt.

Top exports between countries

Cyprus
Export category Export value
Raw materials & minerals $118M
Manufacturing & construction services $6.74M
Machinery & equipment $6.25M
Transport & tourism services $4.21M
Processed food, beverages & tobacco $3.09M
Government & miscellaneous services $1.33M
Chemicals & pharma $1.16M
Textiles & consumer goods $1.06M
Business & finance services $1.05M
Metals $1.04M
Egypt
Export category Export value
Metals $99.5M
Raw materials & minerals $52.9M
Processed food, beverages & tobacco $10.9M
Wood & paper products $10.4M
Chemicals & pharma $8.1M
Raw agricultural goods $4.33M
Textiles & consumer goods $3.76M
Machinery & equipment $3.27M
Miscellaneous $76K
Animal & marine products $39K

Balance of trade

Cyprus Egypt
Current account balance
-$3.07B
2024
-$22.3B
2024
Current account balance ranking
157/190
2024
184/190
2024
Current account balance, % of GDP
-8.16%
2024
-5.72%
2024
Goods imports
$11.9B
2024
$72.9B
2024
Goods exports
$4.43B
2024
$34.8B
2024
Service imports
$23.2B
2024
$27.5B
2024
Service exports
$32.1B
2024
$29.6B
2024
Imports of goods and services, % of GDP
93.4%
2024
23.2%
2024
Exports of goods and services, % of GDP
97%
2024
16.4%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Cyprus Egypt
Economic freedom 74.1 50.3
Economic freedom ranking 21/197 160/197
Property rights 85.1 35.5
Government integrity 59.7 27.1
Judicial effectiveness 89.8 24
Tax burden 80.8 85.7
Government spending 52.1 83.4
Fiscal health 91.5 21.8
Business freedom 82.3 51.4
Labor freedom 60.3 43.1
Monetary freedom 78.7 56
Trade freedom 79.4 60.2
Investment freedom 70 65
Financial freedom 60 50

Economic freedom comparison by year

Cyprus
Egypt
1x
Year Economic freedom index
Cyprus Egypt
2026 74.1 50.3
2025 73.2 50.9
2024 72.2 49.7
2023 72.3 49.6
2022 72.9 49.1
2021 71.4 55.7
2020 70.1 54
2019 68.1 52.5
2018 67.8 53.4
2017 67.9 52.6
2016 68.7 56
2015 67.9 55.2
2014 67.6 52.9
2013 69 54.8
2012 71.8 57.9
2011 73.3 59.1
2010 70.9 59
2009 70.8 58
2008 71.3 58.5
2007 71.7 54.4
2006 71.8 53.2
2005 71.9 55.8
2004 74.1 55.5
2003 73.3 55.3
2002 73 54.1
2001 71 51.5
2000 67.2 51.7
1999 67.8 58
1998 68.2 55.8
1997 67.9 54.5
1996 67.7 52
1995 - 45.7

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/cyprus/egypt | CC BY

The Economic Freedom Index for Cyprus is 74.1, ranking 21/197, compared to 50.3 for Egypt, ranking 160/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cyprus Egypt
Services, % of GDP
76.5%
2024
48.9%
2024
Industry, % of GDP
11.1%
2024
32.6%
2024
Agriculture, forestry, and fishing, % of GDP
1.16%
2024
13.7%
2024
GNI, Atlas method
$32B
2024
$409B
2024
GNI per capita, PPP
$56,200
2024
$18,230
2024
Total reserves including gold
$2.09B
2024
$44.9B
2024
Total reserves ranking
124/177
2024
44/177
2024
Net foreign direct investment
-$5.49B
2024
-$46.1B
2024
Net inflows of foreign direct investment
-$50.4B
2024
$46.6B
2024
Net outflows of foreign direct investment
-$55.9B
2024
$508M
2024
Servicing debt to the IMF, % of GNI n/a
8.86%
2024
Poverty at national poverty lines
13.9%
2021
33.5%
2021
Gross capital formation, % of GDP
20.7%
2024
13%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/cyprus/egypt | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2010–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.