Goods and services expense in Cyprus
Cyprus: Goods and services expense was 9.2% in 2023. ▼ Falling
Goods and services expense in Cyprus, 1972–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of expense.
Analysis
Cyprus recorded 9.2% for goods and services expense in 2023.
Compared with earlier readings it is down 10.1% on the previous year and up 20.9% over ten years.
Over the whole period, goods and services expense in Cyprus peaked at 23.7% in 1975 and was at its lowest, 3.2%, in 1996.
That places Cyprus 113th out of 154 countries with data for 2023, putting it in the middle of the range.
The long-run direction has been consistently falling across the 52 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 20.1% | 16.1% | 23.7% | 8 |
| 1980s | 11.2% | 8.5% | 15.1% | 10 |
| 1990s | 7.9% | 3.2% | 12.0% | 10 |
| 2000s | 10.1% | 8.5% | 12.6% | 10 |
| 2010s | 8.0% | 5.9% | 9.6% | 10 |
| 2020s | 9.0% | 8.0% | 10.2% | 4 |
Countries ranked near Cyprus
More public sector data for Cyprus
- Arms imports 115.00 million SIPRI trend indicator values (2024)
- Tax revenue 23.9% (2024)
- Taxes on income, profits and capital gains 26.1% (2024)
- Taxes on goods and services 29.1% (2024)
- Net investment in nonfinancial assets 2.4% (2024)
- Net lending (+) / net borrowing (-) 4.2% (2024)
- Interest payments 2.8% (2024)
- Grants and other revenue 9.8% (2024)
- Interest payments 3.1% (2023)
- Other taxes 3.3% (2024)
Frequently asked questions
- What is goods and services expense in Cyprus?
- Goods and services expense in Cyprus was 9.2% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest goods and services expense recorded in Cyprus?
- The highest recorded value was 23.7% in 1975.
- What is the lowest goods and services expense recorded in Cyprus?
- The lowest recorded value was 3.2% in 1996.
- How does Cyprus rank for goods and services expense?
- Cyprus ranks 113th out of 154 countries with data for 2023.
- Is goods and services expense rising or falling in Cyprus?
- Over the last ten years it is up 20.9%. The long-run trend across the full record is falling.
- Where does this Cyprus data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Goods and services expense (% of expense). Statizoid updates them automatically from the source API.
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About this data
Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Use of goods and services for own account capital formation is excluded. This indicator is expressed as percentage of total expenses which is any decrease in net worth resulting from a transaction.