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Cyprus

Euro (EUR)

Electronic payments have significantly increased in Cyprus since March 2020, with 81% of consumers opting for direct debits and electronic transfers, for example, compared to 62% pre-pandemic. This shows a clear shift away from cash usage.

Cyprus flag

Population

1,244,188

Banked Population:

93.13%

Group 427321246

Main industries

Industry & Manufacturing, Mining, Agriculture, Tourism, and Banking & Finance

Group 427321247

Main imports

Refined Petroleum, Passenger & Cargo Ships, Recreational Boats, Cars, and Packaged Medicaments

Group 427321248

Main exports

Passenger & Cargo Ships, Packaged Medicaments, Refined Petroleum, Cheese, and Copper Ore

GDP stats

$31,551.8

Per capita (USD)

6.6%

Growth annually

109

World ranking

Internet usage

91%

Smartphone usage

83%

Credit/debit card usage

62%

Population transacting electronically

80%

Group 427321245 1

Total volume of digital payments projected to reach

$1,290M (USD)

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