Cyprus's customs and other import duties (current LCU) was 14.9 million in 2019, the latest year in the World Bank's World Development Indicators. That is up 2,029% from 700,000 in 2009 (35.77% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 14.9 million | 2019 |
| Five years earlier | 100,000 | 2014 |
| Ten years earlier | 700,000 | 2009 |
| Highest | 210.47 million | 1992 |
| Lowest | -1.3 million | 2016 |
| Average since 2010 | 3.38 million | 2010–2019 |
| First recorded | 24.31 million |
What the numbers say
In 2019, Cyprus' customs and other import duties (current LCU) rose 10.4 million on 2018 (from 4.5 million to 14.9 million).
Across the 30 yearly changes before that (1989 to 2018), the average change was −5.1 million and a typical year strayed about 19.55 million from that (the standard deviation). This year's change was 0.8 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 23.7 million in 1988 and the biggest yearly fall was 70 million in 2004. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2010 to 2019 the straight-line trend is upward, about 916,364 a year. A straight line explains 38% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
Closest to Cyprus in the 2019 ranking
- Myanmar — 1st of 3: 463.81 billion
- Trinidad and Tobago — 2nd of 3: 2.3 billion
What this measures
Taxes and duties on imports are taxes on goods and services that become payable at the moment when goods enter the economic territory or when services are delivered by non-resident producers to residents. 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.
Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).
All 48 values
| Year | Customs and other import duties (current LCU) |
|---|---|
| 2019 | 14,900,000 |
| 2018 | 4,500,000 |
| 2017 | 4,800,000 |
| 2016 | -1,300,000 |
| 2015 | 3,900,000 |
| 2014 | 100,000 |
| 2013 | 2,400,000 |
| 2012 | 1,400,000 |
| 2011 | 1,900,000 |
| 2010 | 1,200,000 |
| 2009 |
Customs and other import duties (current LCU) in nearby economies
- Albania — 8.97 billion (2024)
- Armenia — 76.17 billion (2024)
- Azerbaijan — 1.75 billion (2024)
- Belarus — 5.13 billion (2024)
- Bosnia and Herzegovina — 2,739 (2024)
- Bulgaria — 11.72 million (2024)
- Croatia — 61,000 (2020)
- France — 40 million (2024)
- Georgia — 138.9 million (2024)
- Greece — 8 million (2024)
More public sector data for Cyprus
- Net investment in nonfinancial assets (current LCU) — 832 million (2024)
- Net lending (+) / net borrowing (-) (current LCU) — 1.45 billion (2024)
- Social contributions (current LCU) — 4.52 billion (2024)
- Social contributions (% of revenue) — 31.75% (2024)
- Revenue, excluding grants (current LCU) — 13.87 billion (2024)
- Taxes on goods and services (current LCU) — 4.14 billion (2024)
- Taxes on goods and services (% of revenue) — 29.06% (2024)
- Other taxes (current LCU) — 472.6 million (2024)
- Other taxes (% of revenue) — 3.32% (2024)
- Tax revenue (current LCU)
Reading data like this
Questions people ask
- What is Cyprus's customs and other import duties (current LCU)?
- 14.9 million in 2019, according to the World Bank (World Development Indicators).
- How has it changed since 1972?
- It is down 38.72% from 24.31 million in 1972 (1.04% a year on average, compounded). The highest value was 210.47 million in 1992 and the lowest -1.3 million in 2016.
- Is the latest change in customs and other import duties (current LCU) unusual for Cyprus?
- In 2019, Cyprus' customs and other import duties (current LCU) rose 10.4 million on 2018 (from 4.5 million to 14.9 million). Across the 30 yearly changes before that (1989 to 2018), the average change was −5.1 million and a typical year strayed about 19.55 million from that (the standard deviation). This year's change was 0.8 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
- Where does this data come from?
Source
World Bank, World Development Indicators, indicator GC.TAX.IMPT.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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