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Welcome to Johnbirchall-economist.com!
(
Europe)


An overview of Cyprus:

An analysis of the economy.

 
 

 

GDP/PPP: Greek Cypriot area (2003 est.): $8.9 billion; $16,000 per capita; Turkish Cypriot area (2003 est.): $1.217 billion; $5,600 per capita. Real growth rate: Greek Cypriot area: 1.6%; Turkish Cypriot area: 2.6%. Inflation: Greek Cypriot area: 4%; Turkish Cypriot area: 12.6%. Unemployment: Greek Cypriot area: 3.4% (2002 est.); Turkish Cypriot area: 5.6%. Arable land: 11%. Agriculture: potatoes, citrus, vegetables, barley, grapes, olives, vegetables. Labour force (2000): Greek Cypriot area: 306,000; Turkish Cypriot area: 95,025 (2000); Greek Cypriot area: services 73%, industry 22%, agriculture 5% (2000); Turkish Cypriot area: services 56.4%, industry 22.8%, agriculture 20.8% (1998). Industries: food, beverages, textiles, chemicals, metal products, tourism, wood products. Natural resources: copper, pyrites, asbestos, gypsum, timber, salt, marble, clay earth pigment. Exports: Greek Cypriot area: $1.054 billion (f.o.b., 2003 est.): citrus, potatoes, pharmaceuticals, cement, clothing and cigarettes; Turkish Cypriot area: $46 million (f.o.b., 2003 est.): citrus, potatoes, textiles. Imports: Greek Cypriot area: $4.637 billion (f.o.b., 2003 est.): consumer goods, petroleum and lubricants, intermediate goods, machinery, transport equipment; Turkish Cypriot area: $301 million (f.o.b., 2003 est.): food, minerals, chemicals, machinery. Major trading partners: UK, Greece, UAE, France, Russia, Germany, Italy, South Korea, Japan.

Communications: Telephones: main lines in use: Greek Cypriot area: 405,000 (1998); Turkish Cypriot area: 83,162 (1998); mobile cellular: Greek Cypriot area: 68,000 (1998); Turkish Cypriot area: 70,000 (1999). Radio broadcast stations: Greek Cypriot area: AM 7, FM 60, shortwave 1 (1998); Turkish Cypriot area: AM 3, FM 11, shortwave 1 (1998). Radios: Greek Cypriot area: 310,000 (1997); Turkish Cypriot area: 56,450 (1994). Television broadcast stations: Greek Cypriot area: 4 (plus 225 low-power repeaters); Turkish Cypriot area: 4 (plus 5 repeaters) (Sept. 1995). Televisions: Greek Cypriot area: 248,000 (1997); Turkish Cypriot area: 52,300 (1994). Internet Service Providers (ISPs): 6 (2000). Internet users: 150,000 (2002).

 

Transportation: Railways: 0 km. Highways: total: Greek Cypriot area: 11,141 km; Turkish Cypriot area: 2,350 km; paved: Greek Cypriot area: 6,428 km; Turkish Cypriot area: 1,370 km; unpaved: Greek Cypriot area: 4,713 km (2000); Turkish Cypriot area: 980 km (1996). Ports and harbors: Famagusta, Kyrenia, Larnaca, Limassol, Paphos, Vasilikos. Airports: 16 (2002).

 

International disputes: hostilities in 1974 divided the island into two de facto autonomous areas, a Greek Cypriot area controlled by the internationally recognized Cypriot Government and a Turkish-Cypriot area, separated by a UN buffer zone; UN deadline on sides accepting a federation plan for reunification have expired.

The island is divided by a thin buffer zone occupied by the United Nations Forces in Cyprus (UNFICYP), which since 1974 has separated the northern Turkish Cypriot sector from the southern Greek Cypriot sector. Agricultural products include cereal grains, olives, citrus, potatoes, and cotton; in addition, the Greek sector grows deciduous fruits and wine grapes, and the Turkish side grows tobacco, vegetables, and table grapes. Sheep, goats, poultry, hogs, and some cattle are raised. Fishing is an important industry in the Turkish sector, and the Greek side has a strong manufacturing economy (processed foods and beverages, paper, chemicals, textiles, metal products, and refined petroleum). Tourism is important for both areas but has been affected by political instability. Mineral resources include copper, pyrites, chrome, asbestos, and gypsum. Timber is also important. The Greek sector is considerably more prosperous than the Turkish side, which is heavily dependent on aid from Turkey.

 

Useful web sites

 

http://www.kypros.org/

 

lots of information on Cyprus the Greek section.

 

http://www.hri.org/news/latest/

 

News service

 

http://news.bbc.co.uk/1/hi/world/europe/country_profiles/1016541.stm


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