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Economy of Cyprus vs Tanzania compared: GDP & Debt

Updated on by Georank team

Cyprus has a GDP of $37.6B compared to $78.8B for Tanzania, ranking 103/197 and 82/197 by economy size, respectively.

Cyprus has $24.5B in government debt (65.1% of GDP), compared to $39.3B (49.9% of GDP) in Tanzania.

Cyprus vs Tanzania GDP by year

Cyprus
Tanzania
1x
Year GDP, current $
Cyprus Tanzania
2024 $37,634,533,332 $78,844,405,385
2023 $35,075,423,857 $79,030,935,627
2022 $31,218,038,929 $75,749,121,843
2021 $30,372,642,502 $70,655,628,148
2020 $25,555,093,854 $66,068,737,786
2019 $26,196,667,100 $61,026,731,926
2018 $25,754,001,368 $57,003,712,892
2017 $22,946,570,629 $53,274,884,533
2016 $21,046,462,281 $49,774,409,374
2015 $19,909,278,417 $47,413,919,817
2014 $23,225,918,260 $49,986,726,461
2013 $23,959,712,861 $45,648,857,242
2012 $25,047,436,975 $39,650,394,363
2011 $27,641,549,302 $34,657,140,096
2010 $25,799,940,078 $32,012,892,919
2009 $26,048,179,949 $29,400,573,554
2008 $27,844,646,258 $27,947,821,398
2007 $23,968,727,074 $21,860,434,823
2006 $20,072,754,987 $18,619,859,795
2005 $18,433,412,511 $18,395,383,647
2004 $17,320,551,250 $16,673,062,473
2003 $14,547,329,558 $15,211,487,709
2002 $11,420,228,846 $14,129,651,896
2001 $10,397,898,907 $13,563,990,022
2000 $9,985,847,314 $13,371,767,082
1999 $10,497,907,228 $12,704,334,196
1998 $10,248,618,778 $12,172,790,056
1997 $9,547,816,420 $11,158,197,942
1996 $10,011,914,680 $9,433,528,150
1995 $9,933,137,128 $7,631,431,840
1994 $7,425,703,929 $6,550,480,484
1993 $6,590,291,048 $6,182,872,708
1992 $6,912,150,456 $6,681,997,469
1991 $5,770,197,348 $7,197,768,159
1990 $5,591,130,218 $6,184,384,225
1989 $4,563,482,604 $6,418,799,007
1988 $4,278,792,597 $7,406,614,407
1987 $3,704,813,886 $7,824,193,222
1986 $3,090,734,463 $10,840,864,521
1985 $2,430,411,900 $15,328,295,175
1984 $2,278,248,953 $12,906,635,133
1983 $2,160,364,071 $14,049,883,809
1982 $2,159,242,417 $13,927,383,240
1981 $2,087,496,374 $13,161,540,378
1980 $2,154,311,277 $11,409,228,087
1979 $1,288,699,776 $9,804,637,491
1978 $964,024,364 $9,261,675,710
1977 $734,876,021 $7,732,598,995
1976 $576,090,074 $6,472,511,988
1975 $489,912,574 $5,729,917,840
1974 - $4,977,337,978
1973 - $4,144,104,535
1972 - $3,472,787,266
1971 - $3,050,673,517
1970 - $2,851,419,386
1969 - $5,142,066,811
1968 - $4,895,251,824
1967 - $4,565,132,048
1966 - $4,377,998,825
1965 - $3,817,226,546
1964 - $3,748,840,925
1963 - $3,456,579,293
1962 - $3,101,589,993
1961 - $2,826,179,031
1960 - $2,651,729,807

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

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

GDP per capita in Cyprus vs Tanzania by year

Cyprus
GDP per capita

GDP per capita, PPP
Tanzania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Cyprus Tanzania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $27,707 $63,007 $1,150 $4,221
2023 $26,079 $59,875 $1,186 $4,019
2022 $23,448 $55,876 $1,171 $3,800
2021 $23,057 $47,633 $1,125 $3,493
2020 $19,624 $42,569 $1,084 $3,291
2019 $20,360 $44,394 $1,031 $2,982
2018 $20,267 $40,262 $992 $2,728
2017 $18,295 $37,768 $957 $2,472
2016 $17,013 $35,247 $925 $2,435
2015 $16,326 $31,380 $911 $2,317
2014 $19,326 $29,893 $993 $2,221
2013 $20,238 $30,416 $935 $2,176
2012 $21,493 $31,924 $837 $2,083
2011 $24,110 $33,406 $753 $2,211
2010 $22,876 $33,502 $715 $2,069
2009 $23,480 $33,901 $674 $1,972
2008 $25,522 $34,830 $657 $1,908
2007 $22,344 $32,888 $528 $1,820
2006 $19,037 $30,009 $462 $1,707
2005 $17,790 $27,763 $469 $1,598
2004 $17,016 $25,942 $438 $1,482
2003 $14,553 $24,278 $410 $1,379
2002 $11,636 $23,556 $391 $1,302
2001 $10,785 $22,866 $385 $1,229
2000 $10,537 $21,296 $390 $1,164
1999 $11,273 $19,663 $382 $1,120
1998 $11,206 $18,760 $375 $1,082
1997 $10,637 $17,781 $353 $1,059
1996 $11,373 $17,320 $305 $1,026
1995 $11,514 $17,096 $251.2 $981
1994 $8,791 $15,735 $222.5 $958
1993 $7,978 $14,852 $218.2 $959
1992 $8,530 $14,759 $243.4 $955
1991 $7,222 $13,546 $268.8 $952
1990 $7,092 $13,348 $236.9 $925
1989 $5,870 - $252.3 -
1988 $5,584 - $299 -
1987 $4,908 - $326 -
1986 $4,159 - $466 -
1985 $3,324 - $681 -
1984 $3,167 - $593 -
1983 $3,055 - $667 -
1982 $3,100 - $683 -
1981 $3,030 - $665 -
1980 $3,154 - $595 -
1979 $1,902 - $527 -
1978 $1,434 - $515 -
1977 $1,102 - $446 -
1976 $870 - $387 -
1975 $743 - $355 -
1974 - - $320 -
1973 - - $276.1 -
1972 - - $239.8 -
1971 - - $218.4 -
1970 - - $211.3 -
1969 - - $394 -
1968 - - $388 -
1967 - - $374 -
1966 - - $370 -
1965 - - $333 -
1964 - - $337 -
1963 - - $320 -
1962 - - $295.7 -
1961 - - $277.4 -
1960 - - $267.8 -

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

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

Cyprus' GDP per capita is $27,707, ranking 45/197, compared to $1,150 in Tanzania, ranking 170/197. Adjusted for purchasing power (GDP per capita PPP), Cyprus ranks 29th at $63,007, while Tanzania ranks 165th at $4,221.

Economic indicators

Cyprus Tanzania
Gross domestic product
$37.6B
2024
$78.8B
2024
GDP rank
103/197
2024
82/197
2024
GDP growth
3.94%
2023-2024
5.53%
2023-2024
GDP per capita
$27,707
2024
$1,150
2024
GDP per capita rank
45/197
2024
170/197
2024
GDP per capita, PPP
$63,007
2024
$4,221
2024
GDP per capita PPP rank
29/197
2024
165/197
2024
Government debt
$24.5B
2024
$39.3B
2024
Debt-to-GDP ratio
65.1%
2024
49.9%
2024
Government debt per person
$18,034
2024
$573
2024
Government debt per person rank
34/185
2024
160/185
2024
Average annual personal income after taxes
$25,384
2026
$2,309
2026
Market capitalization of domestic companies
$10.9B
2024
$7.32B
2024
Number of billionaires
10
2025
1
2025
Income share by richest 10%
26.3%
2023
33.1%
2018
Income share by poorest 10%
3.6%
2023
2.9%
2018
Government expenditure, % of GDP
40%
2024
19.1%
2024
Consumer prices inflation
1.8%
2023-2024
3.06%
2023-2024
Central bank interest rate n/a
6%
2024
Unemployment rate
4.87%
2024
2.43%
2024
Population
1386362
73145892

Spending and national debt comparison by year

Cyprus
Spending

Debt
Tanzania
Spending

Debt
1x
Year % of GDP
Cyprus Tanzania
Government spending Government debt Government spending Government debt
2024 40% 65.1% 19.1% 49.9%
2023 42% 73.6% 19% 47.8%
2022 38% 81.1% 19.1% 44.9%
2021 42.6% 96.5% 18.4% 43.4%
2020 45.9% 113.6% 17.4% 41.3%
2019 40.3% 92.3% 17.3% 40.4%
2018 44.3% 100.7% 17.3% 42%
2017 38.4% 96.4% 16.4% 40.1%
2016 39.6% 106.8% 16.9% 39.8%
2015 43% 111.6% 17.2% 39.5%
2014 52.1% 113% 17.3% 36.4%
2013 42.1% 102.7% 18.8% 32.7%
2012 41.9% 79.2% 19.6% 30%
2011 42.1% 64.8% 19% 28.4%
2010 41.7% 55.3% 19.8% 27.6%
2009 41.9% 52.8% 19.6% 23.9%
2008 38.2% 44.1% 18.1% 21.6%
2007 37.6% 53.1% 17.8% 23.8%
2006 39.1% 59% 17.6% 17.4%
2005 39.7% 64% 18.3% 25.4%
2004 38.6% 64.7% 17% 44.5%
2003 40.4% 63% 15.4% 44.4%
2002 37.4% 61% 13.6% 47.4%
2001 35.7% 57.5% 12.4% 50.8%
2000 35% 56% 12.3% 55.4%
1999 34.3% 55.7% 12.8% 62.9%
1998 34.4% 55% 11.4% 62.2%
1997 34.2% 53.5% 12.8% 73.4%
1996 32.4% 48.8% 13.4% 89.6%
1995 30.4% 46.7% 15.6% 111.1%
1994 - - 16.8% 126%
1993 - - 16.4% 129.2%
1992 - - 17.6% 117.6%
1991 - - 14.2% 106.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1991–2000, retrieved 2026-02-20).

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

In 2024, Cyprus' government spending was $15B, accounting for 40% of its GDP, while Tanzania spent $15.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 65.1% in Cyprus and 49.9% in Tanzania, ranking 68/185 and 109/185, respectively.

Government deficit by year

Deficit/surplus
Cyprus

Tanzania
1x
Year Deficit/surplus, % of GDP
Cyprus Tanzania
2024 4.28% -3.03%
2023 1.7% -3.67%
2022 2.65% -3.92%
2021 -1.64% -3.55%
2020 -5.57% -2.56%
2019 1.03% -2.06%
2018 -3.36% -2.01%
2017 2.13% -1.14%
2016 0.45% -2.08%
2015 -0.77% -3.17%
2014 -8.8% -2.91%
2013 -5.16% -3.76%
2012 -5.55% -4%
2011 -5.65% -3.51%
2010 -4.68% -4.74%
2009 -5.43% -4.46%
2008 0.87% -1.92%
2007 3.23% -1.44%
2006 -1.04% -3.38%
2005 -2.22% -3.28%
2004 -3.71% -2.43%
2003 -5.91% -1.77%
2002 -4.13% -0.73%
2001 -2.11% -0.41%
2000 -2.24% -0.73%
1999 -4.05% -1.14%
1998 -3.85% 0.13%
1997 -4.82% -0.03%
1996 -2.96% 1.57%
1995 -0.71% -2.12%
1994 - -3.74%
1993 - -2.02%
1992 - -4.96%
1991 - 0.6%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20).

GeoRank.org/economy/cyprus/tanzania | 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 Tanzania's deficit of $2.39B, or 3.03% of GDP.

Over the past 30 years, Cyprus recorded a fiscal deficit in 22 of those years, while Tanzania ran a deficit in 28 years. On average, Cyprus posted an annual deficit equal to 2.27% of GDP, compared to deficit of 2.27% of GDP for Tanzania.

Inflation comparison by year

Inflation
Cyprus

Tanzania
1x
Year Consumer prices inflation
Cyprus Tanzania
2024 1.8% 3.06%
2023 3.54% 3.8%
2022 8.4% 4.35%
2021 2.45% 3.69%
2020 -0.64% 3.29%
2019 0.25% 3.46%
2018 1.44% 3.49%
2017 0.53% 5.32%
2016 -1.43% 5.17%
2015 -2.1% 5.59%
2014 -1.35% 6.13%
2013 -0.4% 7.87%
2012 2.39% 16%
2011 3.29% 12.7%
2010 2.43% 6.2%
2009 0.33% 12.1%
2008 4.67% 10.3%
2007 2.37% 7.03%
2006 2.3% 7.25%
2005 2.56% 5.03%
2004 2.29% 4.74%
2003 4.14% 5.3%
2002 2.8% 5.32%
2001 1.97% 5.15%
2000 4.14% 5.92%
1999 1.63% 7.89%
1998 2.23% 12.8%
1997 3.61% 16.1%

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

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

Over the past 28 years, Cyprus has recorded an average annual inflation rate of 1.99%, compared with 6.97% in Tanzania. In 2024, inflation was 1.8% in Cyprus and 3.06% in Tanzania.

Top exports between countries

Cyprus
Export category Export value
Chemicals & pharma $2.12M
Processed food, beverages & tobacco $225K
Textiles & consumer goods $72K
Machinery & equipment $38K
Miscellaneous $1K
Tanzania
Export category Export value
Animal & marine products $267K
Machinery & equipment $25K
Raw agricultural goods $3K
Textiles & consumer goods $1K
Wood & paper products $1K

Balance of trade

Cyprus Tanzania
Current account balance
-$3.07B
2024
-$2.38B
2024
Current account balance ranking
157/190
2024
147/190
2024
Current account balance, % of GDP
-8.16%
2024
-3.02%
2024
Goods imports
$11.9B
2024
$14.2B
2024
Goods exports
$4.43B
2024
$9.12B
2024
Service imports
$23.2B
2024
$2.8B
2024
Service exports
$32.1B
2024
$6.85B
2024
Imports of goods and services, % of GDP
93.4%
2024
21.7%
2024
Exports of goods and services, % of GDP
97%
2024
19.8%
2024

Economic freedom indices

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

Cyprus Tanzania
Economic freedom 74.1 59
Economic freedom ranking 21/197 106/197
Property rights 85.1 45.2
Government integrity 59.7 40.9
Judicial effectiveness 89.8 29.6
Tax burden 80.8 80.4
Government spending 52.1 89.1
Fiscal health 91.5 75
Business freedom 82.3 48.1
Labor freedom 60.3 62.3
Monetary freedom 78.7 73.4
Trade freedom 79.4 58.8
Investment freedom 70 55
Financial freedom 60 50

Economic freedom comparison by year

Cyprus
Tanzania
1x
Year Economic freedom index
Cyprus Tanzania
2026 74.1 59
2025 73.2 59.3
2024 72.2 59.1
2023 72.3 60
2022 72.9 59.5
2021 71.4 61.3
2020 70.1 61.7
2019 68.1 60.2
2018 67.8 59.9
2017 67.9 58.6
2016 68.7 58.5
2015 67.9 57.5
2014 67.6 57.8
2013 69 57.9
2012 71.8 57
2011 73.3 57
2010 70.9 58.3
2009 70.8 58.3
2008 71.3 56.5
2007 71.7 56.8
2006 71.8 58.5
2005 71.9 56.3
2004 74.1 60.1
2003 73.3 56.9
2002 73 58.3
2001 71 54.9
2000 67.2 56
1999 67.8 60
1998 68.2 59.6
1997 67.9 59.3
1996 67.7 57.5
1995 - 57.3

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

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

The Economic Freedom Index for Cyprus is 74.1, ranking 21/197, compared to 59 for Tanzania, ranking 106/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Cyprus Tanzania
Services, % of GDP
76.5%
2024
29.6%
2024
Industry, % of GDP
11.1%
2024
28.6%
2024
Agriculture, forestry, and fishing, % of GDP
1.16%
2024
23.3%
2024
GNI, Atlas method
$32B
2024
$80.2B
2024
GNI per capita, PPP
$56,200
2024
$4,130
2024
Total reserves including gold
$2.09B
2024
$5.05B
2018
Total reserves ranking
124/177
2024
101/177
2018
Net foreign direct investment
-$5.49B
2024
-$1.72B
2024
Net inflows of foreign direct investment
-$50.4B
2024
$1.72B
2024
Net outflows of foreign direct investment
-$55.9B
2024
$0
2024
Servicing debt to the IMF, % of GNI n/a
2.57%
2024
Poverty at national poverty lines
13.9%
2021
26.4%
2018
Gross capital formation, % of GDP
20.7%
2024
39.8%
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/tanzania | 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 (1991–2024, 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. International Monetary Fund (IMF) | Public Finances in Modern History (1991–2000, retrieved 2026-02-20)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.