Cyprus: Services value added

The latest value from 2023 is 23.85 billion U.S. dollars, an increase from 21.73 billion U.S. dollars in 2022. In comparison, the world average is 258.63 billion U.S. dollars, based on data from 152 countries. Historically, the average for Cyprus from 1995 to 2023 is 14.53 billion U.S. dollars. The minimum value, 6.56 billion U.S. dollars, was reached in 1997 while the maximum of 23.85 billion U.S. dollars was recorded in 2023. See the global rankings for that indicator or use the country comparator to compare trends over time.

Definition: Services correspond to ISIC divisions 50-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4. Data are in constant 2010 U.S. dollars.