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Economy of Cyprus vs El Salvador compared: GDP & Debt

Updated on by Georank team

Cyprus has a GDP of $37.6B compared to $35.4B for El Salvador, ranking 103/197 and 105/197 by economy size, respectively.

Cyprus has $24.5B in government debt (65.1% of GDP), compared to $30.9B (87.5% of GDP) in El Salvador.

Cyprus vs El Salvador GDP by year

Cyprus
El Salvador
1x
Year GDP, current $
Cyprus El Salvador
2024 $37,634,533,332 $35,364,960,000
2023 $35,075,423,857 $33,853,940,000
2022 $31,218,038,929 $31,870,120,000
2021 $30,372,642,502 $29,043,140,000
2020 $25,555,093,854 $24,921,190,000
2019 $26,196,667,100 $26,881,140,000
2018 $25,754,001,368 $26,020,850,000
2017 $22,946,570,629 $24,979,190,000
2016 $21,046,462,281 $24,191,430,000
2015 $19,909,278,417 $23,438,240,000
2014 $23,225,918,260 $22,593,470,000
2013 $23,959,712,861 $21,990,960,000
2012 $25,047,436,975 $21,386,150,000
2011 $27,641,549,302 $20,283,780,000
2010 $25,799,940,078 $18,447,920,000
2009 $26,048,179,949 $17,601,620,000
2008 $27,844,646,258 $17,986,890,000
2007 $23,968,727,074 $17,011,750,000
2006 $20,072,754,987 $15,999,890,000
2005 $18,433,412,511 $14,698,000,000
2004 $17,320,551,250 $13,724,810,900
2003 $14,547,329,558 $13,243,892,200
2002 $11,420,228,846 $12,664,190,300
2001 $10,397,898,907 $12,282,533,600
2000 $9,985,847,314 $11,784,927,700
1999 $10,497,907,228 $11,284,197,000
1998 $10,248,618,778 $10,936,669,900
1997 $9,547,816,420 $10,221,705,900
1996 $10,011,914,680 $9,586,327,800
1995 $9,933,137,128 $8,921,947,100
1994 $7,425,703,929 $7,679,384,000
1993 $6,590,291,048 $6,680,269,200
1992 $6,912,150,456 $5,813,399,300
1991 $5,770,197,348 $5,252,342,400
1990 $5,591,130,218 $4,817,542,204
1989 $4,563,482,604 $4,372,215,300
1988 $4,278,792,597 $4,189,880,000
1987 $3,704,813,886 $3,958,045,800
1986 $3,090,734,463 $3,771,663,200
1985 $2,430,411,900 $3,800,368,600
1984 $2,278,248,953 $3,661,683,400
1983 $2,160,364,071 $3,506,347,800
1982 $2,159,242,417 $3,399,189,100
1981 $2,087,496,374 $3,437,200,200
1980 $2,154,311,277 $3,573,959,900
1979 $1,288,699,776 $3,463,639,900
1978 $964,024,364 $3,127,960,000
1977 $734,876,021 $2,941,640,100
1976 $576,090,074 $2,328,280,100
1975 $489,912,574 $1,884,120,100
1974 - $1,665,880,000
1973 - $1,442,320,000
1972 - $1,263,720,000
1971 - $1,186,120,000
1970 - $1,132,920,000
1969 - $1,049,400,000
1968 - $1,009,760,100
1967 - $976,200,000
1966 - $929,520,000
1965 - $877,720,000

Data sources: World Bank | Economy & Growth (1965–2024, retrieved 2026-04-06).

GeoRank.org/economy/cyprus/el-salvador | CC BY

GDP per capita in Cyprus vs El Salvador by year

Cyprus
GDP per capita

GDP per capita, PPP
El Salvador
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cyprus El Salvador
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $27,707 $63,007 $5,580 $13,264
2023 $26,079 $59,875 $5,365 $12,680
2022 $23,448 $55,876 $5,075 $11,876
2021 $23,057 $47,633 $4,643 $10,810
2020 $19,624 $42,569 $3,997 $9,393
2019 $20,360 $44,394 $4,320 $9,757
2018 $20,267 $40,262 $4,184 $9,204
2017 $18,295 $37,768 $4,020 $8,965
2016 $17,013 $35,247 $3,901 $8,456
2015 $16,326 $31,380 $3,790 $7,934
2014 $19,326 $29,893 $3,666 $7,504
2013 $20,238 $30,416 $3,582 $7,093
2012 $21,493 $31,924 $3,498 $6,708
2011 $24,110 $33,406 $3,331 $6,594
2010 $22,876 $33,502 $3,040 $6,248
2009 $23,480 $33,901 $2,910 $6,063
2008 $25,522 $34,830 $2,983 $6,175
2007 $22,344 $32,888 $2,831 $5,949
2006 $19,037 $30,009 $2,666 $5,695
2005 $17,790 $27,763 $2,447 $5,292
2004 $17,016 $25,942 $2,286 $4,998
2003 $14,553 $24,278 $2,208 $4,829
2002 $11,636 $23,556 $2,115 $4,672
2001 $10,785 $22,866 $2,058 $4,543
2000 $10,537 $21,296 $1,983 $4,422
1999 $11,273 $19,663 $1,908 $4,298
1998 $11,206 $18,760 $1,860 $4,171
1997 $10,637 $17,781 $1,749 $4,043
1996 $11,373 $17,320 $1,651 $3,880
1995 $11,514 $17,096 $1,548 $3,808
1994 $8,791 $15,735 $1,344 $3,591
1993 $7,978 $14,852 $1,180 $3,390
1992 $8,530 $14,759 $1,041 $3,171
1991 $7,222 $13,546 $956 $2,945
1990 $7,092 $13,348 $892 $2,856
1989 $5,870 - $825 -
1988 $5,584 - $806 -
1987 $4,908 - $777 -
1986 $4,159 - $755 -
1985 $3,324 - $776 -
1984 $3,167 - $763 -
1983 $3,055 - $745 -
1982 $3,100 - $735 -
1981 $3,030 - $752 -
1980 $3,154 - $787 -
1979 $1,902 - $773 -
1978 $1,434 - $712 -
1977 $1,102 - $684 -
1976 $870 - $553 -
1975 $743 - $457 -
1974 - - $413 -
1973 - - $366 -
1972 - - $329 -
1971 - - $316 -
1970 - - $309 -
1969 - - $293.4 -
1968 - - $290.1 -
1967 - - $288.4 -
1966 - - $282.4 -
1965 - - $274.3 -

Data sources: World Bank | Economy & Growth (1965–2024, retrieved 2026-04-06).

GeoRank.org/economy/cyprus/el-salvador | CC BY

Cyprus' GDP per capita is $27,707, ranking 45/197, compared to $5,580 in El Salvador, ranking 116/197. Adjusted for purchasing power (GDP per capita PPP), Cyprus ranks 29th at $63,007, while El Salvador ranks 120th at $13,264.

Economic indicators

Cyprus El Salvador
Gross domestic product
$37.6B
2024
$35.4B
2024
GDP rank
103/197
2024
105/197
2024
GDP growth
3.94%
2023-2024
2.6%
2023-2024
GDP per capita
$27,707
2024
$5,580
2024
GDP per capita rank
45/197
2024
116/197
2024
GDP per capita, PPP
$63,007
2024
$13,264
2024
GDP per capita PPP rank
29/197
2024
120/197
2024
Government debt
$24.5B
2024
$30.9B
2024
Debt-to-GDP ratio
65.1%
2024
87.5%
2024
Government debt per person
$18,034
2024
$4,883
2024
Government debt per person rank
34/185
2024
81/185
2024
Average annual personal income after taxes
$25,384
2026
$4,768
2026
Market capitalization of domestic companies
$10.9B
2024
n/a
Number of billionaires
10
2025
n/a
Income share by richest 10%
26.3%
2023
29.7%
2023
Income share by poorest 10%
3.6%
2023
1.9%
2023
Government expenditure, % of GDP
40%
2024
31.4%
2024
Consumer prices inflation
1.8%
2023-2024
0.85%
2023-2024
Unemployment rate
4.87%
2024
2.71%
2024
Population
1386362
6399793

Spending and national debt comparison by year

Cyprus
Spending

Debt
El Salvador
Spending

Debt
1x
Year % of GDP
Cyprus El Salvador
Government spending Government debt Government spending Government debt
2024 40% 65.1% 31.4% 87.5%
2023 42% 73.6% 30.5% 85.1%
2022 38% 81.1% 28.7% 83.7%
2021 42.6% 96.5% 31.1% 88%
2020 45.9% 113.6% 32.7% 95.4%
2019 40.3% 92.3% 27.8% 77.9%
2018 44.3% 100.7% 27.6% 77%
2017 38.4% 96.4% 28.1% 77.1%
2016 39.6% 106.8% 27.5% 75.2%
2015 43% 111.6% 27.1% 73.5%
2014 52.1% 113% 27.6% 71.8%
2013 42.1% 102.7% 28.5% 69.7%
2012 41.9% 79.2% 27.4% 70%
2011 42.1% 64.8% 25.3% 65.6%
2010 41.7% 55.3% 25.6% 66.8%
2009 41.9% 52.8% 26% 65.8%
2008 38.2% 44.1% 24.5% 54.2%
2007 37.6% 53.1% 22.8% 52.2%
2006 39.1% 59% 23.4% 52.6%
2005 39.7% 64% 22.4% 46.3%
2004 38.6% 64.7% 21.5% 46.8%
2003 40.4% 63% 22.6% 46%
2002 37.4% 61% 22.5% 43.8%
2001 35.7% 57.5% 21.7% 37.8%
2000 35% 56% 21% 29.6%
1999 34.3% 55.7% 19.7% 28%
1998 34.4% 55% 19.3% 25.7%
1997 34.2% 53.5% 18.6% 27.8%
1996 32.4% 48.8% 21% 28.5%
1995 30.4% 46.7% 18.6% 28%
1994 - - 18.9% 30.5%
1993 - - 18.5% 31.9%
1992 - - 20.8% 36.4%
1991 - - 18.5% 43.3%
1990 - - 15.9% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/cyprus/el-salvador | CC BY

In 2024, Cyprus' government spending was $15B, accounting for 40% of its GDP, while El Salvador spent $11.1B, or 31.4% of GDP.

Debt-to-GDP ratio is 65.1% in Cyprus and 87.5% in El Salvador, ranking 68/185 and 36/185, respectively.

Government deficit by year

Deficit/surplus
Cyprus

El Salvador
1x
Year Deficit/surplus, % of GDP
Cyprus El Salvador
2024 4.28% -4.55%
2023 1.7% -4.69%
2022 2.65% -2.68%
2021 -1.64% -5.53%
2020 -5.57% -8.18%
2019 1.03% -3.07%
2018 -3.36% -2.71%
2017 2.13% -2.53%
2016 0.45% -3.1%
2015 -0.77% -3.63%
2014 -8.8% -4.02%
2013 -5.16% -4.46%
2012 -5.55% -3.81%
2011 -5.65% -4.47%
2010 -4.68% -4.97%
2009 -5.43% -6.65%
2008 0.87% -3.8%
2007 3.23% -2.32%
2006 -1.04% -3.42%
2005 -2.22% -3.47%
2004 -3.71% -2.76%
2003 -5.91% -4.23%
2002 -4.13% -5.5%
2001 -2.11% -4.95%
2000 -2.24% -3.45%
1999 -4.05% -3.08%
1998 -3.85% -2.94%
1997 -4.82% -1.97%
1996 -2.96% -2.7%
1995 -0.71% -0.18%
1994 - -0.94%
1993 - -1.42%
1992 - -4.29%
1991 - -2.3%
1990 - -0.61%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/cyprus/el-salvador | 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 El Salvador's deficit of $1.61B, or 4.55% of GDP.

Over the past 30 years, Cyprus recorded a fiscal deficit in 22 of those years, while El Salvador ran a deficit in 30 years. On average, Cyprus posted an annual deficit equal to 2.27% of GDP, compared to deficit of 3.79% of GDP for El Salvador.

Inflation comparison by year

Inflation
Cyprus

El Salvador
1x
Year Consumer prices inflation
Cyprus El Salvador
2024 1.8% 0.85%
2023 3.54% 4.05%
2022 8.4% 7.2%
2021 2.45% 3.47%
2020 -0.64% -0.37%
2019 0.25% 0.08%
2018 1.44% 1.09%
2017 0.53% 1.01%
2016 -1.43% 0.6%
2015 -2.1% -0.73%
2014 -1.35% 1.14%
2013 -0.4% 0.76%
2012 2.39% 1.73%
2011 3.29% 5.13%
2010 2.43% 1.18%
2009 0.33% 1.06%
2008 4.67% 6.71%
2007 2.37% 4.58%
2006 2.3% 4.04%
2005 2.56% 4.69%
2004 2.29% 4.45%
2003 4.14% 2.12%
2002 2.8% 1.87%
2001 1.97% 3.75%
2000 4.14% 2.27%
1999 1.63% 0.51%
1998 2.23% 2.55%
1997 3.61% 4.49%

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

GeoRank.org/economy/cyprus/el-salvador | CC BY

Over the past 28 years, Cyprus has recorded an average annual inflation rate of 1.99%, compared with 2.51% in El Salvador. In 2024, inflation was 1.8% in Cyprus and 0.85% in El Salvador.

Top exports between countries

Cyprus
Export category Export value
Machinery & equipment $218K
Chemicals & pharma $15K
Textiles & consumer goods $14K
El Salvador
Export category Export value
Textiles & consumer goods $9K
Machinery & equipment $4K

Balance of trade

Cyprus El Salvador
Current account balance
-$3.07B
2024
-$633M
2024
Current account balance ranking
157/190
2024
110/190
2024
Current account balance, % of GDP
-8.16%
2024
-1.79%
2024
Goods imports
$11.9B
2024
$15.1B
2024
Goods exports
$4.43B
2024
$5.59B
2024
Service imports
$23.2B
2024
$3.26B
2024
Service exports
$32.1B
2024
$6B
2024
Imports of goods and services, % of GDP
93.4%
2024
51.9%
2024
Exports of goods and services, % of GDP
97%
2024
32.8%
2024

Economic freedom indices

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

Cyprus El Salvador
Economic freedom 74.1 57.7
Economic freedom ranking 21/197 114/197
Property rights 85.1 42.7
Government integrity 59.7 31.5
Judicial effectiveness 89.8 15.3
Tax burden 80.8 76.8
Government spending 52.1 72.7
Fiscal health 91.5 59.4
Business freedom 82.3 65.7
Labor freedom 60.3 51.6
Monetary freedom 78.7 70.6
Trade freedom 79.4 76.4
Investment freedom 70 70
Financial freedom 60 60

Economic freedom comparison by year

Cyprus
El Salvador
1x
Year Economic freedom index
Cyprus El Salvador
2026 74.1 57.7
2025 73.2 56.6
2024 72.2 54.4
2023 72.3 56
2022 72.9 59.6
2021 71.4 61
2020 70.1 61.6
2019 68.1 61.8
2018 67.8 63.2
2017 67.9 64.1
2016 68.7 65.1
2015 67.9 65.7
2014 67.6 66.2
2013 69 66.7
2012 71.8 68.7
2011 73.3 68.8
2010 70.9 69.9
2009 70.8 69.8
2008 71.3 68.5
2007 71.7 68.9
2006 71.8 69.6
2005 71.9 71.5
2004 74.1 71.2
2003 73.3 71.5
2002 73 73
2001 71 73
2000 67.2 76.3
1999 67.8 75.1
1998 68.2 70.2
1997 67.9 70.5
1996 67.7 70.1
1995 - 69.1

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

GeoRank.org/economy/cyprus/el-salvador | CC BY

The Economic Freedom Index for Cyprus is 74.1, ranking 21/197, compared to 57.7 for El Salvador, ranking 114/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cyprus El Salvador
Services, % of GDP
76.5%
2024
61%
2024
Industry, % of GDP
11.1%
2024
22.4%
2024
Agriculture, forestry, and fishing, % of GDP
1.16%
2024
4.38%
2024
GNI, Atlas method
$32B
2024
$32.5B
2024
GNI per capita, PPP
$56,200
2024
$12,420
2024
Total reserves including gold
$2.09B
2024
$3.7B
2024
Total reserves ranking
124/177
2024
110/177
2024
Net foreign direct investment
-$5.49B
2024
-$636M
2024
Net inflows of foreign direct investment
-$50.4B
2024
$924M
2024
Net outflows of foreign direct investment
-$55.9B
2024
$288M
2024
Servicing debt to the IMF, % of GNI n/a
35%
2024
Poverty at national poverty lines
13.9%
2021
27.2%
2023
Gross capital formation, % of GDP
20.7%
2024
20.3%
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/el-salvador | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1965–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, 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 (2022–2024, 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.