Skip to content

Economy of Cyprus vs Russia compared: GDP & Debt

Updated on by Georank

Cyprus has a GDP of $41.2B compared to $2.56T for Russia, ranking 103/197 and 8/197 by economy size, respectively.

Cyprus has $22.8B in government debt (55.3% of GDP), compared to $440B (17.2% of GDP) in Russia.

Cyprus vs Russia GDP by year

Cyprus
Russia
1x
Year GDP, current $
Cyprus Russia
2025 $41,225,787,247 $2,561,310,169,359
2024 $37,634,551,821 $2,186,462,268,813
2023 $35,075,440,603 $2,046,284,838,151
2022 $31,218,047,044 $2,292,495,097,681
2021 $30,372,637,513 $1,829,186,719,575
2020 $25,555,082,267 $1,493,075,894,362
2019 $26,196,660,680 $1,693,115,002,708
2018 $25,754,011,492 $1,657,328,773,461
2017 $22,946,583,376 $1,574,199,360,089
2016 $21,046,452,117 $1,276,786,350,881
2015 $19,909,269,065 $1,363,482,182,198
2014 $23,225,912,183 $2,059,241,589,895
2013 $23,959,708,956 $2,292,470,078,346
2012 $25,047,433,100 $2,208,293,553,878
2011 $27,641,553,201 $2,045,922,753,398
2010 $25,799,940,416 $1,524,916,715,224
2009 $26,048,190,775 $1,222,645,900,056
2008 $27,958,384,913 $1,660,848,058,303
2007 $23,968,727,074 $1,299,703,478,482
2006 $20,072,754,987 $989,932,071,353
2005 $18,433,412,511 $764,015,973,481
2004 $17,320,551,250 $591,016,690,732
2003 $14,547,329,558 $430,347,420,185
2002 $11,420,228,846 $345,470,494,418
2001 $10,397,898,907 $306,602,070,621
2000 $9,985,847,314 $259,710,142,197
1999 $10,497,907,228 $195,907,128,351
1998 $10,248,618,778 $270,955,486,862
1997 $9,547,816,420 $404,928,954,192
1996 $10,011,914,680 $391,724,890,744
1995 $9,933,137,128 $395,537,185,735
1994 $7,425,703,929 $395,077,301,248
1993 $6,590,291,048 $435,083,713,851
1992 $6,912,150,456 $460,290,556,901
1991 $5,770,197,348 $517,962,962,963
1990 $5,591,130,218 $517,014,446,228
1989 $4,563,482,604 $506,631,299,735
1988 $4,278,792,597 $554,828,660,436
1987 $3,704,813,886 -
1986 $3,090,734,463 -
1985 $2,430,411,900 -
1984 $2,278,248,953 -
1983 $2,160,364,071 -
1982 $2,159,242,417 -
1981 $2,087,496,374 -
1980 $2,154,311,277 -
1979 $1,288,699,776 -
1978 $964,024,364 -
1977 $734,876,021 -
1976 $576,090,074 -
1975 $489,912,574 -

Data sources: World Bank | Economy & Growth (1975–2025, retrieved 2026-07-08).

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

GDP per capita in Cyprus vs Russia by year

Cyprus
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cyprus Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $30,075 - $17,847 -
2024 $27,707 $63,007 $15,219 $47,362
2023 $26,079 $59,875 $14,227 $44,269
2022 $23,448 $55,876 $15,894 $40,939
2021 $23,057 $47,633 $12,637 $38,638
2020 $19,624 $42,569 $10,280 $31,491
2019 $20,360 $44,394 $11,640 $30,964
2018 $20,267 $40,262 $11,399 $28,629
2017 $18,295 $37,768 $10,835 $25,778
2016 $17,013 $35,247 $8,804 $24,012
2015 $16,326 $31,380 $9,427 $23,994
2014 $19,326 $29,893 $14,277 $25,688
2013 $20,238 $30,416 $15,941 $26,020
2012 $21,493 $31,924 $15,402 $24,274
2011 $24,110 $33,406 $14,305 $22,790
2010 $22,876 $33,502 $10,675 $20,490
2009 $23,480 $33,901 $8,563 $19,390
2008 $25,626 $34,830 $11,635 $20,164
2007 $22,344 $32,888 $9,101 $16,648
2006 $19,037 $30,009 $6,920 $14,912
2005 $17,790 $27,763 $5,323 $11,822
2004 $17,016 $25,942 $4,102 $10,227
2003 $14,553 $24,278 $2,975 $9,255
2002 $11,636 $23,556 $2,378 $8,037
2001 $10,785 $22,866 $2,100 $7,361
2000 $10,537 $21,296 $1,772 $6,825
1999 $11,273 $19,663 $1,331 $5,914
1998 $11,206 $18,760 $1,835 $5,465
1997 $10,637 $17,781 $2,738 $5,700
1996 $11,373 $17,320 $2,644 $5,518
1995 $11,514 $17,096 $2,666 $5,613
1994 $8,791 $15,735 $2,662 $5,734
1993 $7,978 $14,852 $2,931 $6,420
1992 $8,530 $14,759 $3,099 $6,862
1991 $7,222 $13,546 $3,490 $7,858
1990 $7,092 $13,348 $3,494 $8,028
1989 $5,870 - $3,430 -
1988 $5,584 - $3,778 -
1987 $4,908 - - -
1986 $4,159 - - -
1985 $3,324 - - -
1984 $3,167 - - -
1983 $3,055 - - -
1982 $3,100 - - -
1981 $3,030 - - -
1980 $3,154 - - -
1979 $1,902 - - -
1978 $1,434 - - -
1977 $1,102 - - -
1976 $870 - - -
1975 $743 - - -

Data sources: World Bank | Economy & Growth (1975–2025, retrieved 2026-07-08).

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

Cyprus' GDP per capita is $30,075, ranking 45/197, compared to $17,847 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), Cyprus ranks 29th at $63,007, while Russia ranks 50th at $47,362.

Economic indicators

Cyprus Russia
Gross domestic product
$41.2B
2025
$2.56T
2025
GDP rank
103/197
2025
8/197
2025
GDP growth
3.77%
2024-2025
1%
2024-2025
GDP per capita
$30,075
2025
$17,847
2025
GDP per capita rank
45/197
2025
68/197
2025
GDP per capita, PPP
$63,007
2024
$47,362
2024
GDP per capita PPP rank
29/197
2024
50/197
2024
Government debt
$22.8B
2025
$440B
2025
Debt-to-GDP ratio
55.3%
2025
17.2%
2025
Government debt per person
$16,632
2025
$3,068
2025
Government debt per person rank
40/185
2025
105/185
2025
Average annual personal income after taxes
$24,626
2026
$11,183
2026
Market capitalization of domestic companies
$27.9B
2025
$650B
2023
Number of millionaires
24,000
2026
447,000
2026
Number of billionaires
10
2026
147
2026
Income share by richest 10%
26.3%
2023
25.1%
2023
Income share by poorest 10%
3.6%
2023
3.1%
2023
Government expenditure, % of GDP
40.4%
2025
39.1%
2025
Consumer prices inflation
0.13%
2024-2025
8.7%
2024-2025
Central bank interest rate n/a
14.5%
2026
Unemployment rate
4.4%
2025
2.13%
2025
Population
1388591
142643173

Spending and national debt comparison by year

Cyprus
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
Cyprus Russia
Government spending Government debt Government spending Government debt
2025 40.4% 55.3% 39.1% 17.2%
2024 38.3% 62.8% 36.7% 14.8%
2023 40.6% 71.1% 36.1% 15.2%
2022 37.7% 80.3% 35.1% 15.1%
2021 42.7% 96.5% 34.9% 16.5%
2020 45.9% 113.6% 39.2% 19.2%
2019 40.3% 92.3% 33.8% 13.7%
2018 44.3% 100.7% 32.6% 13.6%
2017 38.4% 96.4% 34.8% 14.3%
2016 39.6% 106.8% 36.6% 14.8%
2015 43% 111.6% 35.3% 15.3%
2014 52.1% 113% 34.9% 15.1%
2013 42.1% 102.7% 34.7% 12.3%
2012 41.9% 79.2% 34% 11.2%
2011 42.1% 64.8% 33.3% 10.3%
2010 41.7% 55.3% 35.5% 10.1%
2009 41.9% 52.8% 38.6% 9.92%
2008 38.2% 44.1% 32% 7.45%
2007 37.6% 53.1% 31.9% 8.03%
2006 39.1% 59% 29% 9.8%
2005 39.7% 64% 29.5% 14.9%
2004 38.6% 64.7% 29.6% 20.8%
2003 40.4% 63% 32.6% 28.3%
2002 37.4% 61% 33.8% 37.6%
2001 35.7% 57.5% 31.5% 44.4%
2000 35% 56% 30.7% 55.9%
1999 34.3% 55.7% 34.3% 92.4%
1998 34.4% 55% 39.7% 135.2%
1997 34.2% 53.5% - 51.5%
1996 32.4% 48.8% - 51.9%
1995 30.4% 46.7% - 53.7%
1994 - - - 63.5%
1993 - - - 92.4%
1992 - - - 116%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1992–1996, retrieved 2026-07-08).

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

In 2025, Cyprus' government spending was $16.7B, accounting for 40.4% of its GDP, while Russia spent $1T, or 39.1% of GDP.

Debt-to-GDP ratio is 55.3% in Cyprus and 17.2% in Russia, ranking 89/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
Cyprus

Russia
1x
Year Deficit/surplus, % of GDP
Cyprus Russia
2025 2.99% -3.9%
2024 4.14% -1.59%
2023 1.71% -2.24%
2022 2.69% -1.34%
2021 -1.59% 0.78%
2020 -5.57% -3.99%
2019 1.03% 1.93%
2018 -3.36% 2.92%
2017 2.13% -1.47%
2016 0.45% -3.67%
2015 -0.77% -3.39%
2014 -8.8% -1.07%
2013 -5.16% -1.16%
2012 -5.55% 0.38%
2011 -5.65% 1.43%
2010 -4.68% -3.19%
2009 -5.43% -5.89%
2008 0.87% 4.55%
2007 3.23% 5.59%
2006 -1.04% 7.8%
2005 -2.22% 7.6%
2004 -3.71% 4.57%
2003 -5.91% 1.35%
2002 -4.13% 0.67%
2001 -2.11% 2.99%
2000 -2.24% 3.11%
1999 -4.05% -3.59%
1998 -3.85% -7.42%
1997 -4.82% -
1996 -2.96% -
1995 -0.71% -
1994 - -
1993 - -
1992 - -
1991 - -
1990 - -
1989 - -
1988 - -
1987 - -
1986 - -
1985 - -
1984 - -
1983 - -
1982 - -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - 0.15%
1939 - 0.12%
1938 - 0.16%
1937 - 0.12%
1936 - 0.1%
1935 - 0.07%
1934 - 0.25%
1933 - 0.58%
1932 - 0.06%
1931 - -1.12%
1930 - -1.62%
1929 - -0.4%
1928 - -0.4%
1927 - -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 - 0.69%
1911 - 1.26%
1910 - 1.52%
1909 - -0.15%
1908 - -0.83%
1907 - -0.86%
1906 - -3.19%
1905 - -7.72%
1904 - -5.13%
1903 - 1.04%
1902 - -1.57%
1901 - 0.14%
1900 - -0.36%
1899 - 0.66%
1898 - 0.03%
1897 - 0.34%
1896 - 1.3%
1895 - 0.7%
1894 - 1.43%
1893 - 0.63%
1892 - -1.16%
1891 - -0.97%
1890 - 0.01%
1889 - 1.34%
1888 - 0.88%
1887 - 0.14%
1886 - -0.84%
1885 - -0.75%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1940, retrieved 2026-07-08).

GeoRank.org/economy/cyprus/russia | 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 Russia's deficit of $100B, or 3.9% of GDP.

Over the past 28 years, Cyprus recorded a fiscal deficit in 19 of those years, while Russia ran a deficit in 14 years. On average, Cyprus posted an annual deficit equal to 2.02% of GDP, compared to surplus of 0.06% of GDP for Russia.

Inflation comparison by year

Inflation
Cyprus

Russia
1x
Year Consumer prices inflation
Cyprus Russia
2025 0.13% 8.7%
2024 1.8% 8.4%
2023 3.54% 5.9%
2022 8.4% 13.7%
2021 2.45% 6.7%
2020 -0.64% 3.4%
2019 0.25% 4.5%
2018 1.44% 2.9%
2017 0.53% 3.7%
2016 -1.43% 7%
2015 -2.1% 15.5%
2014 -1.35% 7.8%
2013 -0.4% 6.8%
2012 2.39% 5.1%
2011 3.29% 8.4%
2010 2.43% 6.8%
2009 0.33% 11.6%
2008 4.67% 14.1%
2007 2.37% 9%
2006 2.3% 9.7%
2005 2.56% 12.7%
2004 2.29% 10.9%
2003 4.14% 13.7%
2002 2.8% 15.8%
2001 1.97% 21.5%
2000 4.14% 20.8%
1999 1.63% 85.7%
1998 2.23% 27.7%
1997 3.61% 14.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Cyprus has recorded an average annual inflation rate of 1.92%, compared with 13.2% in Russia. In 2025, inflation was 0.13% in Cyprus and 8.7% in Russia.

Top exports between countries

Cyprus
Export category Export value
Business & finance services $499M
Transport & tourism services $239M
IT & IP services $129M
Machinery & equipment $45.1M
Manufacturing & construction services $2.95M
Chemicals & pharma $1.57M
Raw agricultural goods $456K
Processed food, beverages & tobacco $115K
Weapons & explosives $110K
Raw materials & minerals $106K
Russia
Export category Export value
Transport & tourism services $2.03B
Business & finance services $948M
IT & IP services $748M
Manufacturing & construction services $116M
Machinery & equipment $87M
Miscellaneous $48.8M
Raw materials & minerals $25M
Raw agricultural goods $22.5M
Metals $17.3M
Wood & paper products $13.1M

Balance of trade

Cyprus Russia
Current account balance
-$2.59B
2025
$43.1B
2025
Current account balance ranking
149/190
2025
14/190
2025
Current account balance, % of GDP
-6.29%
2025
+1.68%
2025
Goods imports
$12.6B
2025
$305B
2025
Goods exports
$4.62B
2025
$422B
2025
Service imports
$25.3B
2025
$94.8B
2025
Service exports
$35.7B
2025
$46.3B
2025
Imports of goods and services, % of GDP
91.9%
2025
15.5%
2025
Exports of goods and services, % of GDP
97.6%
2025
18.2%
2025

Economic freedom indices

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

Cyprus Russia
Economic freedom 74.1 50.3
Economic freedom ranking 21/197 161/197
Property rights 85.1 18.6
Government integrity 59.7 22.8
Judicial effectiveness 89.8 22.8
Tax burden 80.8 81.9
Government spending 52.1 61.3
Fiscal health 91.5 94.4
Business freedom 82.3 51.4
Labor freedom 60.3 59.1
Monetary freedom 78.7 61.8
Trade freedom 79.4 69.4
Investment freedom 70 30
Financial freedom 60 30

Economic freedom comparison by year

Cyprus
Russia
1x
Year Economic freedom index
Cyprus Russia
2026 74.1 50.3
2025 73.2 51.6
2024 72.2 52
2023 72.3 53.8
2022 72.9 56.1
2021 71.4 61.5
2020 70.1 61
2019 68.1 58.9
2018 67.8 58.2
2017 67.9 57.1
2016 68.7 50.6
2015 67.9 52.1
2014 67.6 51.9
2013 69 51.1
2012 71.8 50.5
2011 73.3 50.5
2010 70.9 50.3
2009 70.8 50.8
2008 71.3 49.8
2007 71.7 52.2
2006 71.8 52.4
2005 71.9 51.3
2004 74.1 52.8
2003 73.3 50.8
2002 73 48.7
2001 71 49.8
2000 67.2 51.8
1999 67.8 54.5
1998 68.2 52.8
1997 67.9 48.6
1996 67.7 51.6
1995 - 51.1

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

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

The Economic Freedom Index for Cyprus is 74.1, ranking 21/197, compared to 50.3 for Russia, ranking 161/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cyprus Russia
Services, % of GDP
76.8%
2025
58.9%
2025
Industry, % of GDP
11.1%
2025
29.7%
2025
Agriculture, forestry, and fishing, % of GDP
1.12%
2025
3.06%
2025
GNI, Atlas method
$35.6B
2025
$2.33T
2025
GNI per capita, PPP
$57,390
2025
$49,220
2025
Total reserves including gold
$2.95B
2025
$608B
2024
Total reserves ranking
121/177
2025
6/177
2024
Net foreign direct investment
-$9.59B
2025
-$12.4B
2025
Net inflows of foreign direct investment
-$50.4B
2024
-$9.35B
2024
Net outflows of foreign direct investment
-$55.9B
2024
-$170M
2024
Servicing debt to the IMF, % of GNI n/a
2.63%
2024
Poverty at national poverty lines
13.9%
2021
7.2%
2024
Gross capital formation, % of GDP
19.3%
2025
25.9%
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/russia | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1975–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1995–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1885–1996, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2020–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. 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.