Key Market Indicators
Cyprus's energy consumption is projected to reach 0.12 exajoules by 2028, maintaining its current level from 2023. The average annual growth rate is modest, at approximately 0.9%. Historically, Cypriot energy demand has seen a slight decline, with an average decrease of 0.3% per year since 1970. In 2023, Cyprus ranked 76th globally in energy consumption. Luxembourg, with a similar consumption level of 0.12 exajoules, edged out Cyprus in the rankings. The top spots were claimed by the United States, India, and Russia, which occupied the second, third, and fourth positions, respectively.
