Goods and services expense in Cyprus
Cyprus: Goods and services expense was 1.21 billion current LCU in 2024. ◆ Volatile
Goods and services expense in Cyprus, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
The most recent figure for goods and services expense in Cyprus is 1.21 billion current LCU, measured in 2024. That is the highest value across all 53 years on record.
That represents a change of up 5.6% on the previous year and up 131.1% over ten years.
Over the whole period, goods and services expense in Cyprus peaked at 1.21 billion current LCU in 2024 and was at its lowest, 16.74 million current LCU, in 1972.
That places Cyprus 133rd out of 155 countries with data for 2024, putting it in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Goods and services expense in Cyprus, year by year
| Year | current LCU | Change |
|---|---|---|
| 1972 | 16.74 million current LCU | — |
| 1973 | 18.93 million current LCU | +13.1% |
| 1974 | 25.44 million current LCU | +34.4% |
| 1975 | 31.46 million current LCU | +23.6% |
| 1976 | 34.41 million current LCU | +9.4% |
| 1977 | 35.83 million current LCU | +4.1% |
| 1978 | 33.10 million current LCU | -7.6% |
| 1979 | 41.30 million current LCU | +24.8% |
| 1980 | 43.16 million current LCU | +4.5% |
| 1981 | 57.99 million current LCU | +34.4% |
| 1982 | 60.50 million current LCU | +4.3% |
| 1983 | 68.16 million current LCU | +12.7% |
| 1984 | 72.87 million current LCU | +6.9% |
| 1985 | 73.59 million current LCU | +1.0% |
| 1986 | 66.65 million current LCU | -9.4% |
| 1987 | 74.27 million current LCU | +11.4% |
| 1988 | 84.80 million current LCU | +14.2% |
| 1989 | 90.09 million current LCU | +6.2% |
| 1990 | 100.53 million current LCU | +11.6% |
| 1991 | 119.96 million current LCU | +19.3% |
| 1992 | 128.64 million current LCU | +7.2% |
| 1993 | 152.17 million current LCU | +18.3% |
| 1994 | 155.11 million current LCU | +1.9% |
| 1995 | 81.30 million current LCU | -47.6% |
| 1996 | 76.00 million current LCU | -6.5% |
| 1997 | 178.40 million current LCU | +134.7% |
| 1998 | 346.50 million current LCU | +94.2% |
| 1999 | 382.10 million current LCU | +10.3% |
| 2000 | 314.00 million current LCU | -17.8% |
| 2001 | 463.70 million current LCU | +47.7% |
| 2002 | 530.30 million current LCU | +14.4% |
| 2003 | 547.60 million current LCU | +3.3% |
| 2004 | 443.20 million current LCU | -19.1% |
| 2005 | 491.70 million current LCU | +10.9% |
| 2006 | 587.90 million current LCU | +19.6% |
| 2007 | 638.50 million current LCU | +8.6% |
| 2008 | 717.90 million current LCU | +12.4% |
| 2009 | 785.40 million current LCU | +9.4% |
| 2010 | 748.20 million current LCU | -4.7% |
| 2011 | 753.50 million current LCU | +0.7% |
| 2012 | 697.30 million current LCU | -7.5% |
| 2013 | 616.00 million current LCU | -11.7% |
| 2014 | 523.80 million current LCU | -15.0% |
| 2015 | 546.80 million current LCU | +4.4% |
| 2016 | 567.00 million current LCU | +3.7% |
| 2017 | 615.50 million current LCU | +8.6% |
| 2018 | 692.50 million current LCU | +12.5% |
| 2019 | 869.50 million current LCU | +25.6% |
| 2020 | 779.70 million current LCU | -10.3% |
| 2021 | 918.60 million current LCU | +17.8% |
| 2022 | 1.10 billion current LCU | +19.5% |
| 2023 | 1.15 billion current LCU | +4.5% |
| 2024 | 1.21 billion current LCU | +5.6% |
Cyprus compared with similar countries
- Cyprus's 1.21 billion current LCU is below the median for high income countries, which is 14.51 billion current LCU, 8% of the median. (57 countries reporting)
- Cyprus's 1.21 billion current LCU is below the median for Europe & Central Asia, which is 16.59 billion current LCU, 7% of the median. (48 countries reporting)
Biggest year-on-year movements
Years where Goods and services expense in Cyprus changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1997 | +134.7% | 76.00 million current LCU | 178.40 million current LCU |
| 1998 | +94.2% | 178.40 million current LCU | 346.50 million current LCU |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 29.65 million current LCU | 16.74 million current LCU | 41.30 million current LCU | 8 |
| 1980s | 69.21 million current LCU | 43.16 million current LCU | 90.09 million current LCU | 10 |
| 1990s | 172.07 million current LCU | 76.00 million current LCU | 382.10 million current LCU | 10 |
| 2000s | 552.02 million current LCU | 314.00 million current LCU | 785.40 million current LCU | 10 |
| 2010s | 663.01 million current LCU | 523.80 million current LCU | 869.50 million current LCU | 10 |
| 2020s | 1.03 billion current LCU | 779.70 million current LCU | 1.21 billion current LCU | 5 |
Countries ranked near Cyprus
More public sector data for Cyprus
- Democracy, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Democracy 7 (2025)
- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
- Men's universal right to vote 1 (2025)
Frequently asked questions
- What is goods and services expense in Cyprus?
- Goods and services expense in Cyprus was 1.21 billion current LCU in 2024, 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 1.21 billion current LCU in 2024.
- What is the lowest goods and services expense recorded in Cyprus?
- The lowest recorded value was 16.74 million current LCU in 1972.
- How does Cyprus rank for goods and services expense?
- Cyprus ranks 133rd out of 155 countries with data for 2024.
- Is goods and services expense rising or falling in Cyprus?
- Over the last ten years it is up 131.1%. The long-run trend across the full record is volatile.
- 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 (current LCU). 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 account capital formation is excluded. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.