13.10.2022
The average gross monthly salary of employees in 2021 increased by 3.2% compared to 2020 to 2067 euros, reaching a decade high.
According to a press release from the Statistical Office of Cyprus, in terms of money, the average gross monthly income increased by 3.2 percent compared to the previous year. In real terms (taking into account the consumer price index), the growth is 0.7%. The average gross monthly salary of employees was 1,614 euros.
Earnings of employees exceeded the level of 2012, the year before the start of the financial crisis in Cyprus, when the average gross salary was 1,988 euros and the average gross salary was 1,611 euros per month. Earnings have been on a downward trend since 2013 and began to recover in 2017.
The average monthly gross earnings by branches of economic activity ranged from 913 euros in the sector of agriculture, hunting and forestry and 3697 euros in the sector of financial and insurance activities.
With regard to the percentage distribution of employees by gross salary and gender, the highest percentage (14.5%) is observed among employees earning between 1,000 and 1,249 euros.
Average monthly earnings of employees are calculated by dividing total gross earnings before deducting mandatory social security contributions by the total number of employees who received remuneration. The source of the data is the reports of the Social Security Service. The results are published annually.
