Tax revenue in Cyprus
Cyprus: Tax revenue was 23.9% in 2024. ▲ Rising
Tax revenue in Cyprus, 1975–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Cyprus recorded 23.9% for tax revenue in 2024.
That represents a change of up 2.8% on the previous year and down 3.1% over ten years.
Over the whole period, tax revenue in Cyprus peaked at 28.4% in 2007 and was at its lowest, 12.1%, in 1976.
That places Cyprus 21st out of 157 countries with data for 2024, putting it in the top quarter.
The long-run direction has been consistently rising across the 50 years of available data.
Tax revenue in Cyprus, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1975 | 13.4% | — |
| 1976 | 12.1% | -9.5% |
| 1977 | 13.2% | +9.2% |
| 1978 | 13.6% | +2.6% |
| 1979 | 14.2% | +4.6% |
| 1980 | 14.8% | +4.1% |
| 1981 | 13.8% | -6.7% |
| 1982 | 14.2% | +3.2% |
| 1983 | 15.4% | +8.2% |
| 1984 | 16.1% | +4.7% |
| 1985 | 16.6% | +2.6% |
| 1986 | 16.7% | +0.9% |
| 1987 | 16.3% | -2.2% |
| 1988 | 17.4% | +6.5% |
| 1989 | 18.4% | +5.6% |
| 1990 | 18.0% | -1.8% |
| 1991 | 17.0% | -5.8% |
| 1992 | 18.1% | +6.4% |
| 1993 | 19.5% | +7.7% |
| 1994 | 20.8% | +6.9% |
| 1995 | 18.4% | -11.4% |
| 1996 | 17.8% | -3.2% |
| 1997 | 17.1% | -4.1% |
| 1998 | 18.3% | +7.0% |
| 1999 | 18.8% | +2.9% |
| 2000 | 20.8% | +10.3% |
| 2001 | 21.3% | +2.4% |
| 2002 | 21.4% | +0.6% |
| 2003 | 22.0% | +2.7% |
| 2004 | 21.8% | -0.8% |
| 2005 | 23.2% | +6.1% |
| 2006 | 24.3% | +4.9% |
| 2007 | 28.4% | +16.9% |
| 2008 | 26.9% | -5.2% |
| 2009 | 23.2% | -13.7% |
| 2010 | 23.1% | -0.8% |
| 2011 | 23.1% | +0.4% |
| 2012 | 23.3% | +0.8% |
| 2013 | 23.5% | +0.8% |
| 2014 | 24.7% | +5.1% |
| 2015 | 24.0% | -2.7% |
| 2016 | 23.5% | -2.2% |
| 2017 | 23.8% | +1.3% |
| 2018 | 23.8% | +0.1% |
| 2019 | 23.1% | -3.2% |
| 2020 | 21.9% | -4.9% |
| 2021 | 22.6% | +2.8% |
| 2022 | 23.0% | +2.1% |
| 2023 | 23.3% | +1.2% |
| 2024 | 23.9% | +2.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 13.3% | 12.1% | 14.2% | 5 |
| 1980s | 16.0% | 13.8% | 18.4% | 10 |
| 1990s | 18.4% | 17.0% | 20.8% | 10 |
| 2000s | 23.3% | 20.8% | 28.4% | 10 |
| 2010s | 23.6% | 23.1% | 24.7% | 10 |
| 2020s | 23.0% | 21.9% | 23.9% | 5 |
Countries ranked near Cyprus
More public sector data for Cyprus
- Arms imports 115.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 84.67 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0031 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate -63.33 % change on previous year (2021)
- Arms imports (SIPRI trend indicator values), gaps filled 115.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 440.4 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0159 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 7.03 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 598.19 million current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 1,190 SIPRI trend indicator values per square kilometre (2021)
Frequently asked questions
- What is tax revenue in Cyprus?
- Tax revenue in Cyprus was 23.9% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest tax revenue recorded in Cyprus?
- The highest recorded value was 28.4% in 2007.
- What is the lowest tax revenue recorded in Cyprus?
- The lowest recorded value was 12.1% in 1976.
- How does Cyprus rank for tax revenue?
- Cyprus ranks 21st out of 157 countries with data for 2024.
- Is tax revenue rising or falling in Cyprus?
- Over the last ten years it is down 3.1%. The long-run trend across the full record is rising.
- 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 Tax revenue (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Taxes are compulsory, unrequited payments, in cash or in kind, made by institutional units to government units. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.