Cyprus's subsidies and other transfers (current LCU) was 5.97 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 101.8% from 2.96 billion in 2014 (7.27% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 5.97 billion | 2024 |
| Five years earlier | 3.5 billion | 2019 |
| Ten years earlier | 2.96 billion | 2014 |
| Highest | 5.97 billion | 2023 |
| Lowest | 29.52 million | 1980 |
| Average since 2015 | 4.21 billion | 2015–2024 |
| First recorded | 29.52 million |
What the numbers say
In 2024, Cyprus' subsidies and other transfers (current LCU) fell 0% on 2023 (from 5.97 billion to 5.97 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +8.5% and a typical year strayed about 8.2% from that (the standard deviation). This year's change was 1.0 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 553.4% in 1990 and the biggest yearly fall was 32.9% in 1986. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 376.42 million a year. A straight line explains 90% 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.
How it compares
In 2024, Cyprus had the 80th highest value of the 89 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Cyprus in the 2024 ranking
What this measures
Subsidies are current unrequited payments that government units, including nonresident government units, make to enterprises on the basis of the levels of their production activities or the quantities or values of the goods or services that they produce, sell, export or import. 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 45 values
| Year | Subsidies and other transfers (current LCU) |
|---|---|
| 2024 | 5,972,200,000 |
| 2023 | 5,974,700,000 |
| 2022 | 4,749,100,000 |
| 2021 | 4,958,000,000 |
| 2020 | 4,628,900,000 |
| 2019 | 3,501,100,000 |
| 2018 | 3,173,900,000 |
| 2017 | 3,078,500,000 |
| 2016 | 3,071,600,000 |
| 2015 | 2,977,300,000 |
Subsidies and other transfers (current LCU) in nearby economies
- Albania — 370.22 billion (2024)
- Armenia — 1.14 trillion (2024)
- Austria — 175.11 billion (2024)
- Azerbaijan — 13.45 billion (2024)
- Belarus — 46.69 billion (2024)
- Belgium — 133.51 billion (2024)
- Bosnia and Herzegovina — 9.84 billion (2024)
- Bulgaria — 17.9 billion (2024)
- Croatia — 17.93 billion (2023)
- Czechia — 2.31 trillion (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 subsidies and other transfers (current LCU)?
- 5.97 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1980?
- It is up 20,128% from 29.52 million in 1980 (12.83% a year on average, compounded). The highest value was 5.97 billion in 2023 and the lowest 29.52 million in 1980.
- How does Cyprus rank?
- 80th highest of 89 economies with data for 2024.
- Is the latest change in subsidies and other transfers (current LCU) unusual for Cyprus?
- In 2024, Cyprus' subsidies and other transfers (current LCU) fell 0% on 2023 (from 5.97 billion to 5.97 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was +8.5% and a typical year strayed about 8.2% from that (the standard deviation). This year's change was 1.0 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator GC.XPN.TRFT.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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