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Economy of Cyprus vs Morocco compared: GDP & Debt

Updated on by Georank

Cyprus has a GDP of $41.2B compared to $182B for Morocco, ranking 103/197 and 58/197 by economy size, respectively.

Cyprus has $22.8B in government debt (55.3% of GDP), compared to $122B (67.1% of GDP) in Morocco.

Cyprus vs Morocco GDP by year

Cyprus
Morocco
1x
Year GDP, current $
Cyprus Morocco
2025 $41,225,787,247 $182,374,250,612
2024 $37,634,551,821 $160,610,994,055
2023 $35,075,440,603 $146,036,093,667
2022 $31,218,047,044 $131,245,312,804
2021 $30,372,637,513 $142,022,058,447
2020 $25,555,082,267 $121,353,645,057
2019 $26,196,660,680 $128,920,266,409
2018 $25,754,011,492 $127,341,147,582
2017 $22,946,583,376 $118,540,573,368
2016 $21,046,452,117 $111,572,947,005
2015 $19,909,269,065 $110,413,823,842
2014 $23,225,912,183 $119,130,841,412
2013 $23,959,708,956 $115,739,287,305
2012 $25,047,433,100 $106,937,392,311
2011 $27,641,553,201 $110,080,631,332
2010 $25,799,940,416 $100,865,329,473
2009 $26,048,190,775 $101,154,952,241
2008 $27,958,384,913 $101,822,906,949
2007 $23,968,727,074 $86,947,913,287
2006 $20,072,754,987 $75,883,823,301
2005 $18,433,412,511 $68,852,658,069
2004 $17,320,551,250 $66,114,145,451
2003 $14,547,329,558 $58,029,363,354
2002 $11,420,228,846 $47,077,192,188
2001 $10,397,898,907 $43,831,480,208
2000 $9,985,847,314 $43,017,455,402
1999 $10,497,907,228 $46,266,428,648
1998 $10,248,618,778 $46,497,608,725
1997 $9,547,816,420 $39,147,844,526
1996 $10,011,914,680 $43,161,571,528
1995 $9,933,137,128 $39,030,285,468
1994 $7,425,703,929 $35,604,137,423
1993 $6,590,291,048 $31,655,473,664
1992 $6,912,150,456 $33,711,069,431
1991 $5,770,197,348 $32,285,573,574
1990 $5,591,130,218 $30,179,954,775
1989 $4,563,482,604 $26,314,313,191
1988 $4,278,792,597 $25,705,296,184
1987 $3,704,813,886 $21,765,195,948
1986 $3,090,734,463 $19,462,085,540
1985 $2,430,411,900 $14,991,283,216
1984 $2,278,248,953 $14,824,667,954
1983 $2,160,364,071 $16,251,408,128
1982 $2,159,242,417 $17,692,276,734
1981 $2,087,496,374 $17,788,185,479
1980 $2,154,311,277 $21,728,516,153
1979 $1,288,699,776 $15,911,994,817
1978 $964,024,364 $13,236,946,234
1977 $734,876,021 $11,049,783,872
1976 $576,090,074 $9,584,297,284
1975 $489,912,574 $8,984,853,005
1974 - $7,675,466,449
1973 - $6,242,145,880
1972 - $5,074,117,545
1971 - $4,356,669,034
1970 - $3,956,336,244
1969 - $3,651,622,669
1968 - $3,271,422,333
1967 - $3,046,345,314
1966 - $2,876,401,297
1965 - $2,948,331,090
1964 - $2,798,345,299
1963 - $2,657,252,578
1962 - $2,379,611,125
1961 - $2,025,693,540
1960 - $2,037,154,742

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Cyprus vs Morocco by year

Cyprus
GDP per capita

GDP per capita, PPP
Morocco
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cyprus Morocco
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $30,075 - $4,746 -
2024 $27,707 $63,007 $4,218 $10,415
2023 $26,079 $59,875 $3,872 $9,895
2022 $23,448 $55,876 $3,516 $9,310
2021 $23,057 $47,633 $3,843 $8,623
2020 $19,624 $42,569 $3,317 $7,705
2019 $20,360 $44,394 $3,560 $8,046
2018 $20,267 $40,262 $3,553 $7,801
2017 $18,295 $37,768 $3,344 $8,115
2016 $17,013 $35,247 $3,186 $7,853
2015 $16,326 $31,380 $3,190 $7,799
2014 $19,326 $29,893 $3,483 $7,237
2013 $20,238 $30,416 $3,425 $7,542
2012 $21,493 $31,924 $3,206 $7,308
2011 $24,110 $33,406 $3,345 $7,274
2010 $22,876 $33,502 $3,107 $6,849
2009 $23,480 $33,901 $3,158 $6,629
2008 $25,626 $34,830 $3,222 $6,437
2007 $22,344 $32,888 $2,788 $6,058
2006 $19,037 $30,009 $2,466 $5,781
2005 $17,790 $27,763 $2,268 $5,275
2004 $17,016 $25,942 $2,207 $5,025
2003 $14,553 $24,278 $1,962 $4,741
2002 $11,636 $23,556 $1,612 $4,436
2001 $10,785 $22,866 $1,521 $4,269
2000 $10,537 $21,296 $1,513 $3,930
1999 $11,273 $19,663 $1,651 $3,801
1998 $11,206 $18,760 $1,683 $3,740
1997 $10,637 $17,781 $1,439 $3,502
1996 $11,373 $17,320 $1,610 $3,551
1995 $11,514 $17,096 $1,478 $3,152
1994 $8,791 $15,735 $1,369 $3,315
1993 $7,978 $14,852 $1,236 $2,979
1992 $8,530 $14,759 $1,337 $2,979
1991 $7,222 $13,546 $1,302 $3,025
1990 $7,092 $13,348 $1,238 $2,777
1989 $5,870 - $1,099 -
1988 $5,584 - $1,094 -
1987 $4,908 - $944 -
1986 $4,159 - $861 -
1985 $3,324 - $678 -
1984 $3,167 - $687 -
1983 $3,055 - $772 -
1982 $3,100 - $862 -
1981 $3,030 - $890 -
1980 $3,154 - $1,117 -
1979 $1,902 - $839 -
1978 $1,434 - $716 -
1977 $1,102 - $613 -
1976 $870 - $545 -
1975 $743 - $524 -
1974 - - $459 -
1973 - - $382 -
1972 - - $319 -
1971 - - $280.6 -
1970 - - $261.5 -
1969 - - $247.8 -
1968 - - $228 -
1967 - - $218.1 -
1966 - - $211.5 -
1965 - - $222.7 -
1964 - - $216.9 -
1963 - - $211.3 -
1962 - - $194.2 -
1961 - - $169.8 -
1960 - - $175.2 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Cyprus' GDP per capita is $30,075, ranking 45/197, compared to $4,746 in Morocco, ranking 126/197. Adjusted for purchasing power (GDP per capita PPP), Cyprus ranks 29th at $63,007, while Morocco ranks 132nd at $10,415.

Economic indicators

Cyprus Morocco
Gross domestic product
$41.2B
2025
$182B
2025
GDP rank
103/197
2025
58/197
2025
GDP growth
3.77%
2024-2025
4.6%
2024-2025
GDP per capita
$30,075
2025
$4,746
2025
GDP per capita rank
45/197
2025
126/197
2025
GDP per capita, PPP
$63,007
2024
$10,415
2024
GDP per capita PPP rank
29/197
2024
132/197
2024
Government debt
$22.8B
2025
$122B
2025
Debt-to-GDP ratio
55.3%
2025
67.1%
2025
Government debt per person
$16,632
2025
$3,183
2025
Government debt per person rank
40/185
2025
102/185
2025
Average annual personal income after taxes
$24,626
2026
$4,045
2026
Market capitalization of domestic companies
$27.9B
2025
$114B
2025
Number of millionaires
24,000
2026
n/a
Number of billionaires
10
2026
3
2026
Income share by richest 10%
26.3%
2023
31.9%
2013
Income share by poorest 10%
3.6%
2023
2.7%
2013
Government expenditure, % of GDP
40.4%
2025
31.3%
2025
Consumer prices inflation
0.13%
2024-2025
0.7%
2024-2025
Central bank interest rate n/a
2.25%
2025
Unemployment rate
4.4%
2025
11.8%
2022
Population
1388591
38938817

Spending and national debt comparison by year

Cyprus
Spending

Debt
Morocco
Spending

Debt
1x
Year % of GDP
Cyprus Morocco
Government spending Government debt Government spending Government debt
2025 40.4% 55.3% 31.3% 67.1%
2024 38.3% 62.8% 30.9% 67.7%
2023 40.6% 71.1% 30.2% 68.7%
2022 37.7% 80.3% 31.8% 71.4%
2021 42.7% 96.5% 30.1% 69.4%
2020 45.9% 113.6% 34.1% 72.2%
2019 40.3% 92.3% 27% 60.3%
2018 44.3% 100.7% 27.8% 60.5%
2017 38.4% 96.4% 27.9% 60.3%
2016 39.6% 106.8% 28.6% 60.1%
2015 43% 111.6% 28.5% 58.4%
2014 52.1% 113% 30.7% 58.6%
2013 42.1% 102.7% 30.4% 57.1%
2012 41.9% 79.2% 32.5% 52.3%
2011 42.1% 64.8% 31.2% 48.6%
2010 41.7% 55.3% 28.7% 45.3%
2009 41.9% 52.8% 28.1% 42.6%
2008 38.2% 44.1% 28.3% 42%
2007 37.6% 53.1% 26.4% 47.1%
2006 39.1% 59% 26% 50.6%
2005 39.7% 64% 28.6% 54.8%
2004 38.6% 64.7% 24.5% 54.4%
2003 40.4% 63% 24.1% 56.9%
2002 37.4% 61% 25.8% 59.4%
2001 35.7% 57.5% 23.7% 60.4%
2000 35% 56% 22.8% 64.9%
1999 34.3% 55.7% 18.4% 63.4%
1998 34.4% 55% 18.7% 64.5%
1997 34.2% 53.5% 18.6% 68%
1996 32.4% 48.8% 17.6% 65.3%
1995 30.4% 46.7% 21.3% 72.2%
1994 - - 21.7% 69.3%
1993 - - 23.1% 74.7%
1992 - - 22.3% 67%
1991 - - 20.8% 59.1%
1990 - - 22.6% 70.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Cyprus' government spending was $16.7B, accounting for 40.4% of its GDP, while Morocco spent $57B, or 31.3% of GDP.

Debt-to-GDP ratio is 55.3% in Cyprus and 67.1% in Morocco, ranking 89/185 and 64/185, respectively.

Government deficit by year

Deficit/surplus
Cyprus

Morocco
1x
Year Deficit/surplus, % of GDP
Cyprus Morocco
2025 2.99% -3.54%
2024 4.14% -3.92%
2023 1.71% -4.41%
2022 2.69% -5.37%
2021 -1.59% -5.92%
2020 -5.57% -7.15%
2019 1.03% -3.8%
2018 -3.36% -3.52%
2017 2.13% -3.3%
2016 0.45% -4.49%
2015 -0.77% -4.59%
2014 -8.8% -4.78%
2013 -5.16% -4.7%
2012 -5.55% -6.63%
2011 -5.65% -6.08%
2010 -4.68% -3.93%
2009 -5.43% -1.63%
2008 0.87% 0.63%
2007 3.23% -0.12%
2006 -1.04% -1.8%
2005 -2.22% -5.46%
2004 -3.71% -3.31%
2003 -5.91% -3.74%
2002 -4.13% -4.37%
2001 -2.11% -3.79%
2000 -2.24% -1.97%
1999 -4.05% 3.21%
1998 -3.85% 1.47%
1997 -4.82% 1.5%
1996 -2.96% 0.87%
1995 -0.71% -2.54%
1994 - -2.51%
1993 - -2%
1992 - -1.84%
1991 - -0.9%
1990 - -1.32%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Cyprus' government surplus, the difference between spending and revenue, was $1.23B, equivalent to 2.99% of GDP. This compares to Morocco's deficit of $6.46B, or 3.54% of GDP.

Over the past 31 years, Cyprus recorded a fiscal deficit in 22 of those years, while Morocco ran a deficit in 26 years. On average, Cyprus posted an annual deficit equal to 2.1% of GDP, compared to deficit of 3.14% of GDP for Morocco.

Inflation comparison by year

Inflation
Cyprus

Morocco
1x
Year Consumer prices inflation
Cyprus Morocco
2025 0.13% 0.7%
2024 1.8% 0.99%
2023 3.54% 6.09%
2022 8.4% 6.66%
2021 2.45% 1.4%
2020 -0.64% 0.71%
2019 0.25% 0.3%
2018 1.44% 1.8%
2017 0.53% 0.75%
2016 -1.43% 1.64%
2015 -2.1% 1.56%
2014 -1.35% 0.44%
2013 -0.4% 1.88%
2012 2.39% 1.29%
2011 3.29% 0.91%
2010 2.43% 0.99%
2009 0.33% 0.97%
2008 4.67% 3.71%
2007 2.37% 2.04%
2006 2.3% 3.28%
2005 2.56% 0.98%
2004 2.29% 1.49%
2003 4.14% 1.17%
2002 2.8% 2.8%
2001 1.97% 0.62%
2000 4.14% 1.89%
1999 1.63% 0.68%
1998 2.23% 2.75%
1997 3.61% 1.04%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Cyprus has recorded an average annual inflation rate of 1.92%, compared with 1.78% in Morocco. In 2025, inflation was 0.13% in Cyprus and 0.7% in Morocco.

Top exports between countries

Cyprus
Export category Export value
Raw materials & minerals $103M
Machinery & equipment $1M
Raw agricultural goods $608K
Chemicals & pharma $438K
Textiles & consumer goods $325K
Processed food, beverages & tobacco $280K
Transport & tourism services $244K
Business & finance services $236K
Animal & marine products $157K
Wood & paper products $1K
Morocco
Export category Export value
Machinery & equipment $3.61M
Processed food, beverages & tobacco $1.21M
Animal & marine products $994K
Raw materials & minerals $573K
Wood & paper products $185K
Raw agricultural goods $112K
Metals $73K
Textiles & consumer goods $55K
Chemicals & pharma $24K
Precious metals & jewellery $9K

Balance of trade

Cyprus Morocco
Current account balance
-$2.59B
2025
-$4.56B
2025
Current account balance ranking
149/190
2025
163/190
2025
Current account balance, % of GDP
-6.29%
2025
-2.5%
2025
Goods imports
$12.6B
2025
$77.2B
2025
Goods exports
$4.62B
2025
$43.7B
2025
Service imports
$25.3B
2025
$16.7B
2025
Service exports
$35.7B
2025
$33.6B
2025
Imports of goods and services, % of GDP
91.9%
2025
51.1%
2025
Exports of goods and services, % of GDP
97.6%
2025
42%
2025

Economic freedom indices

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

Cyprus Morocco
Economic freedom 74.1 61.8
Economic freedom ranking 21/197 91/197
Property rights 85.1 55.2
Government integrity 59.7 35.6
Judicial effectiveness 89.8 32.5
Tax burden 80.8 65.5
Government spending 52.1 67.5
Fiscal health 91.5 57.5
Business freedom 82.3 72.1
Labor freedom 60.3 46.2
Monetary freedom 78.7 79.6
Trade freedom 79.4 69.8
Investment freedom 70 80
Financial freedom 60 80

Economic freedom comparison by year

Cyprus
Morocco
1x
Year Economic freedom index
Cyprus Morocco
2026 74.1 61.8
2025 73.2 60.3
2024 72.2 56.8
2023 72.3 58.4
2022 72.9 59.2
2021 71.4 63.3
2020 70.1 63.3
2019 68.1 62.9
2018 67.8 61.9
2017 67.9 61.5
2016 68.7 61.3
2015 67.9 60.1
2014 67.6 58.3
2013 69 59.6
2012 71.8 60.2
2011 73.3 59.6
2010 70.9 59.2
2009 70.8 57.7
2008 71.3 55.6
2007 71.7 56.4
2006 71.8 51.5
2005 71.9 52.2
2004 74.1 56.7
2003 73.3 57.8
2002 73 59
2001 71 63.9
2000 67.2 63.2
1999 67.8 63.8
1998 68.2 61.1
1997 67.9 64.7
1996 67.7 64.3
1995 - 62.8

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Cyprus is 74.1, ranking 21/197, compared to 61.8 for Morocco, ranking 91/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cyprus Morocco
Services, % of GDP
76.8%
2025
52.3%
2025
Industry, % of GDP
11.1%
2025
25.2%
2025
Agriculture, forestry, and fishing, % of GDP
1.12%
2025
10.5%
2025
GNI, Atlas method
$35.6B
2025
$170B
2025
GNI per capita, PPP
$57,390
2025
$10,960
2025
Total reserves including gold
$2.95B
2025
$48.5B
2025
Total reserves ranking
121/177
2025
50/177
2025
Net foreign direct investment
-$9.59B
2025
-$2.51B
2025
Net inflows of foreign direct investment
-$50.4B
2024
$1.75B
2024
Net outflows of foreign direct investment
-$55.9B
2024
$679M
2024
Servicing debt to the IMF, % of GNI n/a
5.63%
2024
Poverty at national poverty lines
13.9%
2021
3.9%
2022
Gross capital formation, % of GDP
19.3%
2025
31.9%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. TradeMap (2015–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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.