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Economy of Cyprus vs Nepal compared: GDP & Debt

Updated on by Georank team

Cyprus has a GDP of $37.6B compared to $42.9B for Nepal, ranking 103/197 and 101/197 by economy size, respectively.

Cyprus has $24.5B in government debt (65.1% of GDP), compared to $20.7B (48.3% of GDP) in Nepal.

Cyprus vs Nepal GDP by year

Cyprus
Nepal
1x
Year GDP, current $
Cyprus Nepal
2024 $37,634,533,332 $42,914,268,287
2023 $35,075,423,857 $41,047,772,331
2022 $31,218,038,929 $41,182,939,601
2021 $30,372,642,502 $36,924,841,394
2020 $25,555,093,854 $33,433,659,301
2019 $26,196,667,100 $34,186,180,699
2018 $25,754,001,368 $33,111,525,237
2017 $22,946,570,629 $28,971,588,940
2016 $21,046,462,281 $24,524,109,484
2015 $19,909,278,417 $24,360,801,287
2014 $23,225,918,260 $22,731,612,922
2013 $23,959,712,861 $22,162,204,925
2012 $25,047,436,975 $21,703,100,877
2011 $27,641,549,302 $21,573,872,421
2010 $25,799,940,078 $16,002,656,434
2009 $26,048,179,949 $12,854,985,464
2008 $27,844,646,258 $12,545,438,605
2007 $23,968,727,074 $10,325,618,017
2006 $20,072,754,987 $9,043,715,356
2005 $18,433,412,511 $8,130,258,378
2004 $17,320,551,250 $7,273,938,315
2003 $14,547,329,558 $6,330,473,097
2002 $11,420,228,846 $6,050,875,807
2001 $10,397,898,907 $6,007,055,042
2000 $9,985,847,314 $5,494,252,208
1999 $10,497,907,228 $5,033,642,384
1998 $10,248,618,778 $4,856,255,044
1997 $9,547,816,420 $4,918,691,917
1996 $10,011,914,680 $4,521,580,381
1995 $9,933,137,128 $4,401,104,418
1994 $7,425,703,929 $4,066,775,510
1993 $6,590,291,048 $3,660,041,667
1992 $6,912,150,456 $3,401,211,581
1991 $5,770,197,348 $3,921,476,085
1990 $5,591,130,218 $3,627,560,239
1989 $4,563,482,604 $3,525,225,787
1988 $4,278,792,597 $3,487,009,748
1987 $3,704,813,886 $2,957,255,380
1986 $3,090,734,463 $2,850,782,044
1985 $2,430,411,900 $2,619,913,956
1984 $2,278,248,953 $2,581,207,388
1983 $2,160,364,071 $2,447,174,803
1982 $2,159,242,417 $2,395,423,742
1981 $2,087,496,374 $2,275,583,317
1980 $2,154,311,277 $1,945,916,583
1979 $1,288,699,776 $1,851,250,008
1978 $964,024,364 $1,604,162,497
1977 $734,876,021 $1,382,400,000
1976 $576,090,074 $1,452,788,985
1975 $489,912,574 $1,575,789,254
1974 - $1,217,953,547
1973 - $972,101,725
1972 - $1,024,098,400
1971 - $882,765,472
1970 - $865,975,309
1969 - $788,641,965
1968 - $772,231,387
1967 - $841,974,025
1966 - $906,811,944
1965 - $735,267,082
1964 - $496,098,775
1963 - $496,947,904
1962 - $574,091,101
1961 - $531,959,562
1960 - $508,334,414

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

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

GDP per capita in Cyprus vs Nepal by year

Cyprus
GDP per capita

GDP per capita, PPP
Nepal
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cyprus Nepal
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $27,707 $63,007 $1,447 $5,737
2023 $26,079 $59,875 $1,382 $5,395
2022 $23,448 $55,876 $1,386 $5,103
2021 $23,057 $47,633 $1,253 $4,546
2020 $19,624 $42,569 $1,154 $4,236
2019 $20,360 $44,394 $1,203 $4,261
2018 $20,267 $40,262 $1,179 $3,956
2017 $18,295 $37,768 $1,034 $3,605
2016 $17,013 $35,247 $877 $2,976
2015 $16,326 $31,380 $876 $2,957
2014 $19,326 $29,893 $821 $2,901
2013 $20,238 $30,416 $803 $2,658
2012 $21,493 $31,924 $788 $2,466
2011 $24,110 $33,406 $786 $2,248
2010 $22,876 $33,502 $585 $2,139
2009 $23,480 $33,901 $473 $2,029
2008 $25,522 $34,830 $465 $1,942
2007 $22,344 $32,888 $385 $1,809
2006 $19,037 $30,009 $340 $1,718
2005 $17,790 $27,763 $309 $1,628
2004 $17,016 $25,942 $279.6 $1,542
2003 $14,553 $24,278 $246.4 $1,453
2002 $11,636 $23,556 $238.9 $1,390
2001 $10,785 $22,866 $240.8 $1,388
2000 $10,537 $21,296 $223.8 $1,317
1999 $11,273 $19,663 $208.6 $1,234
1998 $11,206 $18,760 $205.1 $1,187
1997 $10,637 $17,781 $211.8 $1,162
1996 $11,373 $17,320 $198.8 $1,110
1995 $11,514 $17,096 $197.8 $1,058
1994 $8,791 $15,735 $187.3 $1,026
1993 $7,978 $14,852 $172.8 $952
1992 $8,530 $14,759 $165 $920
1991 $7,222 $13,546 $195.7 $889
1990 $7,092 $13,348 $185.8 $830
1989 $5,870 - $185 -
1988 $5,584 - $187.1 -
1987 $4,908 - $162 -
1986 $4,159 - $159.5 -
1985 $3,324 - $149.9 -
1984 $3,167 - $151.1 -
1983 $3,055 - $146.6 -
1982 $3,100 - $147 -
1981 $3,030 - $142.9 -
1980 $3,154 - $125.1 -
1979 $1,902 - $121.9 -
1978 $1,434 - $108.1 -
1977 $1,102 - $95.3 -
1976 $870 - $102.5 -
1975 $743 - $113.6 -
1974 - - $89.8 -
1973 - - $73.2 -
1972 - - $78.8 -
1971 - - $69.5 -
1970 - - $69.6 -
1969 - - $64.8 -
1968 - - $64.9 -
1967 - - $72.3 -
1966 - - $79.5 -
1965 - - $65.8 -
1964 - - $45.3 -
1963 - - $46.3 -
1962 - - $54.6 -
1961 - - $51.6 -
1960 - - $50.2 -

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

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

Cyprus' GDP per capita is $27,707, ranking 45/197, compared to $1,447 in Nepal, ranking 164/197. Adjusted for purchasing power (GDP per capita PPP), Cyprus ranks 29th at $63,007, while Nepal ranks 155th at $5,737.

Economic indicators

Cyprus Nepal
Gross domestic product
$37.6B
2024
$42.9B
2024
GDP rank
103/197
2024
101/197
2024
GDP growth
3.94%
2023-2024
3.67%
2023-2024
GDP per capita
$27,707
2024
$1,447
2024
GDP per capita rank
45/197
2024
164/197
2024
GDP per capita, PPP
$63,007
2024
$5,737
2024
GDP per capita PPP rank
29/197
2024
155/197
2024
Government debt
$24.5B
2024
$20.7B
2024
Debt-to-GDP ratio
65.1%
2024
48.3%
2024
Government debt per person
$18,034
2024
$700
2024
Government debt per person rank
34/185
2024
154/185
2024
Average annual personal income after taxes
$25,384
2026
$2,170
2026
Market capitalization of domestic companies
$10.9B
2024
n/a
Number of billionaires
10
2025
2
2025
Income share by richest 10%
26.3%
2023
24.2%
2022
Income share by poorest 10%
3.6%
2023
3.7%
2022
Government expenditure, % of GDP
40%
2024
22.1%
2024
Consumer prices inflation
1.8%
2023-2024
4.69%
2023-2024
Unemployment rate
4.87%
2024
10.7%
2017
Population
1386362
29596762

Spending and national debt comparison by year

Cyprus
Spending

Debt
Nepal
Spending

Debt
1x
Year % of GDP
Cyprus Nepal
Government spending Government debt Government spending Government debt
2024 40% 65.1% 22.1% 48.3%
2023 42% 73.6% 25.1% 47%
2022 38% 81.1% 26.1% 42.7%
2021 42.6% 96.5% 27.2% 43.3%
2020 45.9% 113.6% 28.5% 43.3%
2019 40.3% 92.3% 27.1% 34%
2018 44.3% 100.7% 28% 31.1%
2017 38.4% 96.4% 23.6% 25%
2016 39.6% 106.8% 19% 25%
2015 43% 111.6% 17.7% 25.7%
2014 52.1% 113% 16.6% 27.6%
2013 42.1% 102.7% 15.5% 31.9%
2012 41.9% 79.2% 16.8% 34.5%
2011 42.1% 64.8% 16.3% 32.4%
2010 41.7% 55.3% 16.5% 35.4%
2009 41.9% 52.8% 17% 39.5%
2008 38.2% 44.1% 13.4% 36.8%
2007 37.6% 53.1% 13.1% 37.9%
2006 39.1% 59% 11.2% 42.9%
2005 39.7% 64% 12% 45.1%
2004 38.6% 64.7% 11.8% 51.3%
2003 40.4% 63% 12% 53%
2002 37.4% 61% 13% 51.8%
2001 35.7% 57.5% 12.9% 50.8%
2000 35% 56% 11.4% 50.8%
1999 34.3% 55.7% - -
1998 34.4% 55% - -
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/nepal | CC BY

In 2024, Cyprus' government spending was $15B, accounting for 40% of its GDP, while Nepal spent $9.5B, or 22.1% of GDP.

Debt-to-GDP ratio is 65.1% in Cyprus and 48.3% in Nepal, ranking 68/185 and 112/185, respectively.

Government deficit by year

Deficit/surplus
Cyprus

Nepal
1x
Year Deficit/surplus, % of GDP
Cyprus Nepal
2024 4.28% -2.76%
2023 1.7% -5.81%
2022 2.65% -3.12%
2021 -1.64% -3.98%
2020 -5.57% -7.47%
2019 1.03% -4.27%
2018 -3.36% -5.83%
2017 2.13% -2.69%
2016 0.45% 1.2%
2015 -0.77% 0.46%
2014 -8.8% 1.36%
2013 -5.16% 1.57%
2012 -5.55% -1.18%
2011 -5.65% -0.72%
2010 -4.68% -0.67%
2009 -5.43% -2.24%
2008 0.87% -0.29%
2007 3.23% -0.67%
2006 -1.04% 0.24%
2005 -2.22% 0.24%
2004 -3.71% -0.14%
2003 -5.91% -0.34%
2002 -4.13% -2.46%
2001 -2.11% -2.35%
2000 -2.24% -1.48%
1999 -4.05% -
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/nepal | 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 Nepal's deficit of $1.19B, or 2.76% of GDP.

Over the past 25 years, Cyprus recorded a fiscal deficit in 17 of those years, while Nepal ran a deficit in 19 years. On average, Cyprus posted an annual deficit equal to 2.07% of GDP, compared to deficit of 1.74% of GDP for Nepal.

Inflation comparison by year

Inflation
Cyprus

Nepal
1x
Year Consumer prices inflation
Cyprus Nepal
2024 1.8% 4.69%
2023 3.54% 7.12%
2022 8.4% 7.67%
2021 2.45% 4.13%
2020 -0.64% 5.06%
2019 0.25% 5.57%
2018 1.44% 4.41%
2017 0.53% 2.78%
2016 -1.43% 8.79%
2015 -2.1% 7.87%
2014 -1.35% 8.36%
2013 -0.4% 9.04%
2012 2.39% 9.46%
2011 3.29% 9.23%
2010 2.43% 9.33%
2009 0.33% 11.1%
2008 4.67% 9.91%
2007 2.37% 2.27%
2006 2.3% 6.92%
2005 2.56% 6.84%
2004 2.29% 2.84%
2003 4.14% 5.71%
2002 2.8% 3.03%
2001 1.97% 2.69%
2000 4.14% 2.48%
1999 1.63% 7.45%
1998 2.23% 11.2%
1997 3.61% 4.01%

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

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

Over the past 28 years, Cyprus has recorded an average annual inflation rate of 1.99%, compared with 6.43% in Nepal. In 2024, inflation was 1.8% in Cyprus and 4.69% in Nepal.

Top exports between countries

Cyprus
Export category Export value
Machinery & equipment $132K
Chemicals & pharma $112K
Miscellaneous $45K
Precious metals & jewellery $20K
Processed food, beverages & tobacco $12K
Textiles & consumer goods $5K
Nepal
Export category Export value
Textiles & consumer goods $15K
Precious metals & jewellery $3K
Metals $1K
Wood & paper products $1K

Balance of trade

Cyprus Nepal
Current account balance
-$3.07B
2024
$1.68B
2024
Current account balance ranking
157/190
2024
50/190
2024
Current account balance, % of GDP
-8.16%
2024
+3.91%
2024
Goods imports
$11.9B
2024
$12.1B
2024
Goods exports
$4.43B
2024
$1.54B
2024
Service imports
$23.2B
2024
$2.27B
2024
Service exports
$32.1B
2024
$1.9B
2024
Imports of goods and services, % of GDP
93.4%
2024
32.9%
2024
Exports of goods and services, % of GDP
97%
2024
7.62%
2024

Economic freedom indices

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

Cyprus Nepal
Economic freedom 74.1 52.9
Economic freedom ranking 21/197 144/197
Property rights 85.1 38.8
Government integrity 59.7 38.9
Judicial effectiveness 89.8 42.9
Tax burden 80.8 84.3
Government spending 52.1 82.1
Fiscal health 91.5 71
Business freedom 82.3 60.8
Labor freedom 60.3 48.2
Monetary freedom 78.7 69.4
Trade freedom 79.4 58.6
Investment freedom 70 10
Financial freedom 60 30

Economic freedom comparison by year

Cyprus
Nepal
1x
Year Economic freedom index
Cyprus Nepal
2026 74.1 52.9
2025 73.2 52.5
2024 72.2 52.1
2023 72.3 51.4
2022 72.9 49.7
2021 71.4 50.7
2020 70.1 54.2
2019 68.1 53.8
2018 67.8 54.1
2017 67.9 55.1
2016 68.7 50.9
2015 67.9 51.3
2014 67.6 50.1
2013 69 50.4
2012 71.8 50.2
2011 73.3 50.1
2010 70.9 52.7
2009 70.8 53.2
2008 71.3 54.1
2007 71.7 54.4
2006 71.8 53.7
2005 71.9 51.4
2004 74.1 51.2
2003 73.3 51.5
2002 73 52.3
2001 71 51.6
2000 67.2 51.3
1999 67.8 53.1
1998 68.2 53.5
1997 67.9 53.6
1996 67.7 50.3

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Cyprus is 74.1, ranking 21/197, compared to 52.9 for Nepal, ranking 144/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cyprus Nepal
Services, % of GDP
76.5%
2024
55.2%
2024
Industry, % of GDP
11.1%
2024
11.4%
2024
Agriculture, forestry, and fishing, % of GDP
1.16%
2024
21.9%
2024
GNI, Atlas method
$32B
2024
$43.7B
2024
GNI per capita, PPP
$56,200
2024
$5,830
2024
Total reserves including gold
$2.09B
2024
$12.5B
2023
Total reserves ranking
124/177
2024
74/177
2023
Net foreign direct investment
-$5.49B
2024
-$56.9M
2024
Net inflows of foreign direct investment
-$50.4B
2024
$56.9M
2024
Net outflows of foreign direct investment
-$55.9B
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
1.23%
2024
Poverty at national poverty lines
13.9%
2021
20.3%
2022
Gross capital formation, % of GDP
20.7%
2024
30.4%
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/nepal | 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 (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2020–2024, 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.