IMD World Competitiveness Booklet 2021

COMPETITIVENESS TRENDS - OVERALL CYPRUS

OVERALL PERFORMANCE (64 countries)

BASIC FACTS Capital Land area (square km '000)

Rank

Nicosia

2017 2018 2019 2020 2021

9 2020

0.876 2020 0.89 2020 24.0 2020 39,889 2020 -5.1 2020 -1.10 2020 7.77 2020 0.45 2020 -11.79 2020 445.1 2019 103.93 2019

30

33

Exchange Rate (per $)

37

41

41

62

Population - market size (millions)

CHALLENGES IN 2021 Manage COVID-19 pandemic (contain infections, accelerate vaccinations) while economy reopens. • Manage COVID-19 pandemic (contain infections, accelerate vaccinations) while economy reopens. • Implement structural reforms and policy agenda that support sustainable development. • Encourage strategic investment, particularly in knowledge- intensive industries. • Preserve fiscal sustainability while limiting scarring effects of COVID-19 crisis. • Continue NPL resolution amid crisis and uncertainties around foreclosure framework.

61

Gross Domestic Product (GDP) (US$ billions)

30

GDP (PPP) per capita (US$)

34

Real GDP growth (%)

5

Consumer price inflation (%)

42

Unemployment rate (%)

63

Labor force (millions)

64

Current account balance (% of GDP)

19

Direct investment stocks inward ($bn)

Economics Research Centre, University of Cyprus Cyprus Employers and Industrialists Federation (OEB) Pr vided by: Economics Research Centre, University of Cyprus Cyprus Employers and Industrialists Federation (OEB)

1

Direct investment flows inward (% of GDP)

COMPETITIVENESS LANDSCAPE

Economic Performance

Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance

Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices

Attitudes and Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health and Environment Education

1

7

14

18

23 24

28

31

32

39

40

40

43

44

45

49 50

50

50

59

PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (41 countries)

POPULATIONS < 20 MILLION (35 countries)

2017 2018 2019 2020 2021

2017 2018 2019 2020 2021

19

19

20

21

23

24

25

26

28

28

64

IMD WORLD COMPETITIVENESS BOOKLET 2021