Cyprus: Imports, percent of GDP

* indicates monthly or quarterly data series
 Cyprus

Imports of goods and services as percent of GDP

 Latest value 90.27
 Year 2023
 Measure percent
 Data availability 1975 - 2023
 Average 63.64
 Min - Max 47.92 - 94.72
 Source The World Bank
The latest value from 2023 is 90.27 percent, a decline from 94.72 percent in 2022. In comparison, the world average is 49.03 percent, based on data from 138 countries. Historically, the average for Cyprus from 1975 to 2023 is 63.64 percent. The minimum value, 47.92 percent, was reached in 1993 while the maximum of 94.72 percent was recorded in 2022. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Cyprus - Imports, percent of GDP - Recent values chart

Historical series
Cyprus - Imports, percent of GDP - historical chart - 1975-2023




The imports of Cyprus and other countries are calculated as the total amount of goods and services produced abroad and sold at home. Imports are often reported as percent of GDP so that we can evaluate their magnitude relative to the size of the economy.

If imports are about 15 percent or less of GDP the economy is considered relatively closed. That, for example, applies to the U.S. In contrast, many small European countries import over 40 percent of the products they consume. They are considered more open to international trade.
Definition: Imports of goods and services represent the value of all goods and other market services received from the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.

Selected articles from our guide:

What factors determine the exchange rates

International lending and sovereign debt

All articles



 Related indicators Latest Reference Measure
 Terms of trade 86.05 2021 percent
 Trade openness 179.62 2023 percent
 Financial openness 2.299 2021 index points
 Exports, percent of GDP 89.35 2023 percent
 Exports, billion dollars 28.80 2023 billion U.S. dollars
 Growth of exports -1.24 2023 percent
 Imports, percent of GDP 90.27 2023 percent
 Imports, billion dollars 29.09 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP -27.75 2023 percent
 Foreign Direct Investment, billion dollars 0.48 2022 billion U.S. dollars
 Portfolio investment inflows, equities -1,002.07 2023 million dollars (current)
 Current account, percent of GDP -12.10 2023 percent
 Current account, in dollars -3.89 2023 billion U.S. dollars
 Trade balance, percent of GDP -0.92 2023 percent
 Trade balance, in dollars -0.28 2023 billion U.S. dollars
 Reserves 1.79 2023 billion U.S. dollars
 Remittances, percent of GDP 1.86 2023 percent
 Remittances 600.00 2023 million U.S. dollars
 Net errors and omissions 781.75 2023 million USD
 Foreign exchange reserves 1.90 9/2024 billion
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