Taxes on goods and services (current LCU) in Cyprus
Cyprus: Taxes on goods and services (current LCU) was 4.14 billion current LCU in 2024. ◆ Volatile
Latest (2024)
4.14 billion current LCU
Change on year
up 5.1%
World rank
130th
of 157 countries
All-time high
4.14 billion current LCU
in 2024
All-time low
21.36 million current LCU
in 1972
Years of data
53
1972–2024
Taxes on goods and services in Cyprus, 1972–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
Cyprus recorded 4.14 billion current LCU for taxes on goods and services in 2024. That is the highest value across all 53 years on record.
The figure is up 5.1% on the previous year and up 74.9% over ten years.
Over the whole period, taxes on goods and services in Cyprus peaked at 4.14 billion current LCU in 2024 and was at its lowest, 21.36 million current LCU, in 1972.
Cyprus ranks 130th of 157 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Taxes on goods and services (current LCU) in Cyprus, year by year
| Year | current LCU | Change |
|---|---|---|
| 1972 | 21.36 million current LCU | — |
| 1973 | 28.57 million current LCU | +33.8% |
| 1974 | 25.24 million current LCU | -11.7% |
| 1975 | 22.67 million current LCU | -10.2% |
| 1976 | 24.60 million current LCU | +8.5% |
| 1977 | 30.36 million current LCU | +23.4% |
| 1978 | 45.00 million current LCU | +48.2% |
| 1979 | 64.14 million current LCU | +42.5% |
| 1980 | 67.66 million current LCU | +5.5% |
| 1981 | 69.01 million current LCU | +2.0% |
| 1982 | 84.90 million current LCU | +23.0% |
| 1983 | 99.42 million current LCU | +17.1% |
| 1984 | 118.61 million current LCU | +19.3% |
| 1985 | 136.02 million current LCU | +14.7% |
| 1986 | 138.84 million current LCU | +2.1% |
| 1987 | 150.05 million current LCU | +8.1% |
| 1988 | 173.35 million current LCU | +15.5% |
| 1989 | 205.37 million current LCU | +18.5% |
| 1990 | 221.59 million current LCU | +7.9% |
| 1991 | 225.11 million current LCU | +1.6% |
| 1992 | 328.24 million current LCU | +45.8% |
| 1993 | 436.60 million current LCU | +33.0% |
| 1994 | 563.38 million current LCU | +29.0% |
| 1995 | 627.60 million current LCU | +11.4% |
| 1996 | 647.60 million current LCU | +3.2% |
| 1997 | 652.50 million current LCU | +0.8% |
| 1998 | 771.10 million current LCU | +18.2% |
| 1999 | 807.40 million current LCU | +4.7% |
| 2000 | 1.02 billion current LCU | +26.7% |
| 2001 | 1.15 billion current LCU | +12.4% |
| 2002 | 1.22 billion current LCU | +5.8% |
| 2003 | 1.54 billion current LCU | +26.3% |
| 2004 | 1.80 billion current LCU | +17.0% |
| 2005 | 1.98 billion current LCU | +10.1% |
| 2006 | 2.15 billion current LCU | +8.7% |
| 2007 | 2.45 billion current LCU | +14.0% |
| 2008 | 2.66 billion current LCU | +8.3% |
| 2009 | 2.32 billion current LCU | -12.8% |
| 2010 | 2.40 billion current LCU | +3.5% |
| 2011 | 2.36 billion current LCU | -1.6% |
| 2012 | 2.42 billion current LCU | +2.3% |
| 2013 | 2.21 billion current LCU | -8.5% |
| 2014 | 2.36 billion current LCU | +7.0% |
| 2015 | 2.37 billion current LCU | +0.1% |
| 2016 | 2.52 billion current LCU | +6.3% |
| 2017 | 2.65 billion current LCU | +5.5% |
| 2018 | 2.90 billion current LCU | +9.1% |
| 2019 | 2.98 billion current LCU | +2.8% |
| 2020 | 2.59 billion current LCU | -13.0% |
| 2021 | 3.05 billion current LCU | +17.6% |
| 2022 | 3.59 billion current LCU | +17.8% |
| 2023 | 3.94 billion current LCU | +9.7% |
| 2024 | 4.14 billion current LCU | +5.1% |
Cyprus compared with similar countries
- Cyprus's 4.14 billion current LCU is below the median for high income countries, which is 39.13 billion current LCU, 11% of the median. (57 countries reporting)
- Cyprus's 4.14 billion current LCU is below the median for Europe & Central Asia, which is 85.71 billion current LCU, 5% of the median. (48 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 32.74 million current LCU | 21.36 million current LCU | 64.14 million current LCU | 8 |
| 1980s | 124.32 million current LCU | 67.66 million current LCU | 205.37 million current LCU | 10 |
| 1990s | 528.11 million current LCU | 221.59 million current LCU | 807.40 million current LCU | 10 |
| 2000s | 1.83 billion current LCU | 1.02 billion current LCU | 2.66 billion current LCU | 10 |
| 2010s | 2.52 billion current LCU | 2.21 billion current LCU | 2.98 billion current LCU | 10 |
| 2020s | 3.46 billion current LCU | 2.59 billion current LCU | 4.14 billion current LCU | 5 |
Countries ranked near Cyprus
More public sector data for Cyprus
- Democracy, 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)
- 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)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, 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 taxes on goods and services in Cyprus?
- Taxes on goods and services in Cyprus was 4.14 billion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Cyprus?
- The highest recorded value was 4.14 billion current LCU in 2024.
- What is the lowest taxes on goods and services recorded in Cyprus?
- The lowest recorded value was 21.36 million current LCU in 1972.
- How does Cyprus rank for taxes on goods and services?
- Cyprus ranks 130th out of 157 countries with data for 2024.
- Is taxes on goods and services rising or falling in Cyprus?
- Over the last ten years it is up 74.9%. 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 Taxes on goods and services (current LCU). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 53 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. 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.