Cyprus Comprehensive Country Report

The following is a comprehensive report on Cyprus

 

Within this report you will find information that may be of use to you in evaluating the suitability, attractiveness or otherwise of your involvement with the country of Cyprus for the purposes of obtaining a passport from that country, doing business with that country or living in that country.

 

You may download your personal copy of this complete 20+ page comprehensive country report on Cyprus by clicking on the image below.

CYPRUS – Country Report

 

Background:

 

cyprus-country-report

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A former British colony, Cyprus became independent in 1960 following years of resistance to British rule. Tensions between the Greek Cypriot majority and Turkish Cypriot minority came to a head in December 1963, when violence broke out in the capital of Nicosia. Despite the deployment of UN peacekeepers in 1964, sporadic intercommunal violence continued, forcing most Turkish Cypriots into enclaves throughout the island. In 1974, a Greek Government-sponsored attempt to overthrow the elected president of Cyprus was met by military intervention from Turkey, which soon controlled more than a third of the island. In 1983, the Turkish Cypriot administered area declared itself the “Turkish Republic of Northern Cyprus” (“TRNC”), but it is recognized only by Turkey. A UN-mediated agreement, the Annan Plan, failed to win approval by both communities in 2004. In February 2014, after a hiatus of nearly two years, the leaders of the two communities resumed formal discussions under UN auspices aimed at reuniting the divided island. Talks were suspended in October 2014, but resumed in earnest in May 2015 following the election of a new Turkish Cypriot “president.” The entire island entered the EU on 1 May 2004, although the EU acquis – the body of common rights and obligations – applies only to the areas under the internationally recognized government, and is suspended in the area administered by Turkish Cypriots. However, individual Turkish Cypriots able to document their eligibility for Republic of Cyprus citizenship legally enjoy the same rights accorded to other citizens of EU states.

Geography: CYPRUS

Location:

Middle East, island in the Mediterranean Sea, south of Turkey; note – Cyprus views itself as part of Europe; geopolitically, it can be classified as falling within Europe, the Middle East, or both

Map references:

Middle East

Area:

Total: 9,251 sq km (of which 3,355 sq km are in north Cyprus)

Land: 9,241 sq km

Water: 10 sq km

Country comparison to the world: 171

 

Area – comparative:

About 0.6 times the size of Connecticut

Land boundaries:

Total: 156 km

Border sovereign base areas: Akrotiri 48 km, Dhekelia 108 km

Coastline:

648 km

Climate:

Temperate; Mediterranean with hot, dry summers and cool winters

Terrain:

Central plain with mountains to north and south; scattered but significant plains along southern coast

Elevation:

Mean elevation: 91 m

Elevation extremes: lowest point: Mediterranean Sea 0 m

Highest point: Mount Olympus 1,951 m

Natural resources:

Copper, pyrites, asbestos, gypsum, timber, salt, marble, clay earth pigment

Land use:

Agricultural land: 13.4%

Arable land 9.8%; permanent crops 3.2%; permanent pasture 0.4%

Forest: 18.8%

Other: 67.8% (2011 est.)

Irrigated land:

460 sq km (2012)

Total renewable water resources:

0.78 cu km (2011)

Freshwater withdrawal (domestic/industrial/agricultural):

Total: 0.18 cu km/yr (10%/3%/86%)

Per capita: 164.7 cu m/yr (2009)

Natural hazards:

Moderate earthquake activity; droughts

Environment – current issues:

Water resource problems (no natural reservoir catchments, seasonal disparity in rainfall, sea water intrusion to island’s largest aquifer, increased salination in the north); water pollution from sewage and industrial wastes; coastal degradation; loss of wildlife habitats from urbanization

Environment – international agreements:

party to: Air Pollution, Air Pollution-Nitrogen Oxides, Air Pollution-Persistent Organic Pollutants, Air Pollution-Sulfur 94, Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Environmental Modification, Hazardous Wastes, Law of the Sea, Marine Dumping, Ozone Layer Protection, Ship Pollution, Wetlands

Signed, but not ratified: none of the selected agreements

Geography – note:

The third largest island in the Mediterranean Sea (after Sicily and Sardinia)

People and Society: CYPRUS

Nationality:

Noun: Cypriot(s)

Adjective: Cypriot

Ethnic groups:

Greek 98.8%, other 1% (includes Maronite, Armenian, Turkish-Cypriot), unspecified 0.2%

Note: data represent only the government-controlled area of Cyprus (2011 EST.)

 

Languages:

Greek (official) 80.9%, Turkish (official) 0.2%, English 4.1%, Romanian 2.9%, Russian 2.5%, Bulgarian 2.2%, Arabic 1.2%, Filipino 1.1%, other 4.3%, unspecified 0.6%

Note: data represent only the government-controlled area of Cyprus (2011 EST.)

Religions:

Orthodox Christian 89.1%, Roman Catholic 2.9%, Protestant/Anglican 2%, Muslim 1.8%, Buddhist 1%, other (includes Maronite, Armenian Church, Hindu) 1.4%, unknown 1.1%, none/atheist 0.6%

Note: data represent only the government-controlled area of Cyprus (2011 EST.)

Population:

1,189,197 (July 2015 EST.)

Country comparison to the world: 161

Age structure:

0-14 years: 15.61% (male 95,431/female 90,159)

15-24 years: 14.87% (male 96,152/female 80,633)

25-54 years: 46.97% (male 293,582/female 264,935)

55-64 years: 11.05% (male 62,826/female 68,551)

65 years and over: 11.51% (male 59,363/female 77,565) (2015 est.)

Dependency ratios:

Total dependency ratio: 41.6%

Youth dependency ratio: 23.4%

Elderly dependency ratio: 18.2%

Potential support ratio: 5.5% (2015 est.)

Median age:

Total: 36.4 years

Male: 35.1 years

Female: 38 years (2016 EST.)

Country comparison to the world: 68

Population growth rate:

1.43% (2015 est.)

Country comparison to the world: 84

Birth rate:

11.41 births/1,000 population (2015 est.)

Country comparison to the world: 172

Death rate:

6.62 deaths/1,000 population (2015 est.)

Country comparison to the world: 143

Net migration rate:

9.48 migrant(s)/1,000 population (2015 est.)

Country comparison to the world: 11

Urbanization:

Urban population: 66.9% of total population (2015)

Rate of urbanization: 0.89% annual rate of change (2010-15 est.)

Major urban areas – population:

NICOSIA (capital) 251,000 (2014)

Sex ratio:

At birth: 1.05 male(s)/female

0-14 years: 1.06 male(s)/female

15-24 years: 1.19 male(s)/female

25-54 years: 1.11 male(s)/female

55-64 years: 0.92 male(s)/female

65 years and over: 0.77 male(s)/female

Total population: 1.04 male(s)/female (2015 est.)

Mother’s mean age at first birth:

28.5

Note: data represent only government-controlled areas (2010 est.)

Maternal mortality rate:

7 deaths/100,000 live births (2015 est.)

Country comparison to the world: 154

Infant mortality rate:

Total: 8.36 deaths/1,000 live births

Male: 9.97 deaths/1,000 live births

Female: 6.68 deaths/1,000 live births (2015 EST.)

Country comparison to the world: 152

Life expectancy at birth:

Total population: 78.51 years

Male: 75.7 years

Female: 81.46 years (2015 EST.)

Country comparison to the world: 54

Total fertility rate:

1.46 children born/woman (2015 EST.)

Country comparison to the world: 202

Health expenditures:

7.4% of GDP (2014)

Country comparison to the world: 72

 

Physician’s density:

2.33 physicians/1,000 population (2012)

Hospital bed density:

3.5 beds/1,000 population (2011)

Drinking water source:

Improved:

Urban: 100% of population

Rural: 100% of population

Total: 100% of population

Unimproved:

Urban: 0% of population

Rural: 0% of population

Total: 0% of population (2015 EST.)

Sanitation facility access:

Improved:

Urban: 100% of population

Rural: 100% of population

Total: 100% of population

Unimproved:

Urban: 0% of population

Rural: 0% of population

Total: 0% of population (2015 EST.)

HIV/AIDS – adult prevalence rate:

0.06% (2013 EST.)

Country comparison to the world: 117

HIV/AIDS – people living with HIV/AIDS:

400 (2013 EST.)

Country comparison to the world: 125

HIV/AIDS – deaths:

Fewer than 100 (2013 EST.)

Country comparison to the world: 124

Obesity – adult prevalence rate:

24.5% (2014)

Country comparison to the world: 53

Education expenditures:

6.6% of GDP (2011)

Country comparison to the world: 19

Literacy:

Definition: age 15 and over can read and write

Total population: 99.1%

Male: 99.5%

Female: 98.7% (2015 EST.)

School life expectancy (primary to tertiary education):

Total: 14 years

Male: 14 years

Female: 15 years (2014)

Unemployment, youth ages 15-24:

Total: 38.9%

Male: 41.1%

Female: 36.8% (2013 EST.)

Country comparison to the world: 32

People – note:

Demographic data for Cyprus represent the population of the government-controlled area and the area administered by Turkish Cypriots, unless otherwise indicated

Government: CYPRUS

Country name:

Conventional long form: Republic of Cyprus

Conventional short form: Cyprus

Local long form: Kypriaki Dimokratia/Kibris Cumhuriyeti

Local short form: Kypros/Kibris

Note: the Turkish Cypriot community, which administers the northern part of the island, refers to itself as the “Turkish Republic of Northern Cyprus” or “TRNC” (“Kuzey Kibris Turk Cumhuriyeti” or “KKTC”)

Etymology: the derivation of the name “Cyprus” is unknown, but the extensive mining of copper metal on the island in antiquity gave rise to the Latin word “cuprum” for copper

Government type:

Republic of Cyprus – presidential democracy; Turkish Republic of Northern Cyprus (self-declared) – semi-presidential democracy

note: a separation of the two main ethnic communities inhabiting the island began following the outbreak of communal strife in 1963; this separation was further solidified when a Greek military-junta-supported coup attempt prompted the Turkish intervention in July 1974 that gave the Turkish Cypriots de facto control in the north; Greek Cypriots control the only internationally recognized government on the island; on 15 November 1983, then Turkish Cypriot “President” Rauf DENKTAS declared independence and the formation of a “Turkish Republic of Northern Cyprus” (“TRNC”), which is recognized only by Turkey

Capital:

Name: Nicosia (Lefkosia/Lefkosa)

Geographic coordinates: 35 10 N, 33 22 E

Time difference: UTC+2 (7 hours ahead of Washington, DC, during Standard Time)

Daylight saving time: +1hr, begins last Sunday in March; ends last Sunday in October

Administrative divisions:

6 districts; Ammochostos (Famagusta); (all but a small part located in the Turkish Cypriot community), Keryneia (Kyrenia; the only district located entirely in the Turkish Cypriot community), Larnaka (Larnaca; with a small part located in the Turkish Cypriot community), Lefkosia (Nicosia; a small part administered by Turkish Cypriots), Lemesos (Limassol), Pafos (Paphos); note – the 5 “districts” of the “TRNC” are Gazimagusa (Famagusta), Girne (Kyrenia), Guzelyurt (Morphou), Iskele (Trikomo), Lefkosia (Nicosia)

Independence:

16 August 1960 (from the UK); note – Turkish Cypriots proclaimed self-rule on 13 February 1975 and independence in 1983, but these proclamations are recognized only by Turkey

National holiday:

Independence Day, 1 October (1960); note – Turkish Cypriots celebrate 15 November (1983) as “Republic Day”

Constitution:

Ratified 16 August 1960; amended 1996, 2013; note – in 1963, the constitution was partly suspended as Turkish Cypriots withdrew from the government; Turkish-held territory in 1983 was declared the “Turkish Republic of Northern Cyprus” (“TRNC”); in 1985, the “TRNC” approved its own constitution (2016)

Legal system:

Mixed legal system of English common law and civil law with European law supremacy

International law organization participation:

Accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction

Citizenship:

Citizenship by birth: no

Citizenship by descent only: at least one parent must be a citizen of Cyprus

Dual citizenship recognized: yes

Residency requirement for naturalization: 7 years

 

Suffrage:

18 years of age; universal

Executive branch:

Chief of state: President Nicos ANASTASIADES (since 28 February 2013); note – the president is both chief of state and head of government; vice president (vacant); note – vice presidency reserved for Turkish Cypriot

Head of government: President Nicos ANASTASIADES (since 28 February 2013)

cabinet: Council of Ministers appointed by the president; note – under the 1960 constitution, 3 of the ministerial posts reserved for Turkish Cypriots, appointed by the vice president; positions currently filled by Greek Cypriots

Elections/appointments: president directly elected by absolute majority popular vote in 2 rounds if needed for a 5-year term; election last held on 17 and 24 February 2013 (next to be held in February 2018)

election results: Nicos ANASTASIADES elected president; percent of vote in first round – Nicos ANASTASIADES (DISY) 45.5%, Stavros MALAS (AKEL) 26.9%, Giorgos LILLIKAS (SP) 24.9%, other 2.7%; percent of vote in second round – Nicos ANASTASIADES 57.5%, Savros MALAS 42.5%

note: Mustafa AKINCI elected “president” of the “TRNC” on 30 April 2015; percent of vote in first round (19 April 2015) – Dervis EROGLU (UBP) 28.2%, Mustafa AKINCI (TDP) 26.9%, other 44.9%; percent of vote in runoff (26 April 2015) – AKINCI 60.5%, EROGLU 39.5%; Huseyin OZGURGUN is “TRNC prime minister” since 8 April 2016

Legislative branch:

description: area under government control: unicameral House of Representatives or Vouli Antiprosopon (80 seats; 56 assigned to Greek Cypriots, 24 to Turkish Cypriots, but only those assigned to Greek Cypriots are filled; members directly elected by both proportional representation and preferential vote; members serve 5-year terms); area administered by Turkish Cypriots: unicameral Assembly of the Republic or Cumhuriyet Meclisi (50 seats; members directly elected by proportional representation vote to serve 5-year terms)

Elections: area under government control: last held on 22 May 2016 (next to be held in May 2021); area administered by Turkish Cypriots: last held on 28 July 2013 (next to be held on July 2018)

election results: area under government control: House of Representatives – percent of vote by party – DISY 30.7%, AKEL 25.7%, DIKO 14.5%, KS-EDEK 6.2%, Citizen’s Alliance 5.0% Solidarity Movement 5.2%, other 11.7%; seats by party – DISY 18, AKEL 16, DIKO 9, KS-EDEK 3, Citizen’s Alliance 3, Solidarity Movement 3, other 7; area administered by Turkish Cypriots: “Assembly of the Republic” – percent of vote by party – CTP-BG 38.4%, UBP 27.3%, DP-UG 23.2%, TDP 7.4%, other 3.7%; seats by party – CTP-BG 21, UBP 14, DP-UG 12, TDP 3

Judicial branch:

Highest court(s): Supreme Court of Cyprus (consists of 13 judges including the court president); note – the highest court in the “Turkish Republic of Northern Cyprus” (“TRNC”) is the “Supreme Court” (consists of 8 “judges” including the “court president”)

judge selection and term of office: Republic of Cyprus Supreme Court judges appointed by the president of the republic upon the recommendation of the Supreme Court judges; judge tenure until age 68; “TRNC Supreme Court” judges appointed by the “Supreme Council of Judicature,” a 12-member body of judges, the attorney general, appointees – 1 each by the president of the “TRNC” and by the Legislative Assembly, and 1 member elected by the Bar Association; judge tenure NA

Subordinate courts: Republic of Cyprus district courts; Assize Courts; specialized courts for issues relating to family, industrial disputes, military, and rent control; “TRNC Assize Courts”; “district and family courts”

Political parties and leaders:

Area under government control:

Citizens’ Alliance or SP [Giorgos LILLIKAS]

Democratic Party or DIKO [Nikolas PAPADOPOULOS]

Democratic Rally or DISY [Averof NEOPHYTOU (of Neofytou)]

Ecological and Environmental Movement or KOP (Green Party) [Giorgos PERDIKIS]

European Party or EVROKO [Dimitris SYLLOURIS]

Movement of Social Democrats or KS-EDEK [Marinos SIZOPOULOS]

National Popular Front or ELAM [Christos CHRISTOU]

Progressive Party of the Working People or AKEL (Communist Party) [Andros KYPRIANOU]

Solidarity Movement [Eleni THEOCHAROUS]

United Democrats or EDI [Praxoula ANTONIADOU]

Area administered by Turkish Cypriots:

Communal Democracy Party or TDP [Cemal OZYIGIT]

Cyprus Socialist Party or KSP [Mehmet BIRINCI]

Democrat Party- National Forces or DP-UG [Serdar DENKTAS]

National Justice Party or UAP [Fatma SOLMAZ]

National Unity Party or UBP [Huseyin OZGURGUN]

New Cyprus Party or YKP [Murat KANATLI]

People’s Party or HP [Kudret OZERSAY]

Republican Turkish Party-United Forces or CTP-BG [Mehmet Ali TALAT]

Social Democratic Party or SDP [Tozun TUNALI]

United Cyprus Party or BKP [Izzet IZCAN]

Political pressure groups and leaders:

Confederation of Cypriot Workers or SEK [Nikos MOYSEOS] (pro-West)

Pan-Cyprian Labor Federation or PEO [Pambis KYRITSIS] (Communist controlled)

Area administered by Turkish Cypriots: Confederation of Revolutionary Labor Unions or Dev-Is

Federation of Turkish Cypriot Labor Unions or Turk-Sen [Asian BICAKLI]

International organization participation:

Australia Group, C, CD, CE, EBRD, ECB, EIB, EMU, EU, FAO, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NAM, NSG, OAS (observer), OIF, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO

Diplomatic representation in the US:

Chief of mission: Ambassador Leonidas PANTELIDIS (since 27 June 2016)

Chancery: 2211 R Street NW, Washington, DC 20008

Telephone: [1] (202) 462-5772, 462-0873

FAX: [1] (202) 483-6710

Consulate general: New York

Note: representative of the Turkish Cypriot community in the US is Ismet KORUKOGLU; office at 1667 K Street NW, Washington, DC; telephone [1] (202) 887-6198

Diplomatic representation from the US:

Chief of mission: Ambassador Kathleen Ann DOHERTY (since 7 October 2015)

Embassy: corner of Metochiou and Ploutarchou Streets, 2407 Engomi, Nicosia

Mailing address: P. O. Box 24536, 1385 Nicosia

Telephone: [357] (22) 393939

FAX: [357] (22) 780944

Flag description:

White with a copper-colored silhouette of the island (the island has long been famous for its copper deposits) above two green crossed olive branches in the center of the flag; the branches symbolize the hope for peace and reconciliation between the Greek and Turkish communities

note: the “Turkish Republic of Northern Cyprus” flag retains the white field of the Cyprus national flag but displays narrow horizontal red stripes positioned a small distance from the top and bottom edges between which are centered a red crescent and a red five-pointed star; the banner is modeled after the Turkish national flag but with the colors reversed

National symbol(s):

Cypriot mouflon (wild sheep), white dove; national colors: blue, white

National anthem:

Name: “Ymnos eis tin Eleftherian” (Hymn to Liberty)

Lyrics/music: Dionysios SOLOMOS/Nikolaos MANTZAROS

Note: adopted 1960; Cyprus adopted the Greek national anthem as its own; the Turkish Cypriot community in Cyprus uses the anthem of Turkey

Economy: CYPRUS

Economy – overview:

The area of the Republic of Cyprus under government control has a market economy dominated by the service sector, which accounts for more than four-fifths of GDP. Tourism, financial services, shipping, and real estate have traditionally been the most important sectors. Cyprus has been a member of the EU since May 2004 and adopted the euro as its national currency in January 2008.

During the first five years of EU membership, the Cyprus economy grew at an average rate of about 4%, with unemployment between 2004 and 2008 averaging about 4%. However, the economy tipped into recession in 2009 as the ongoing global financial crisis and resulting low demand hit the tourism and construction sectors. An overextended banking sector with excessive exposure to Greek debt added to the contraction. Cyprus’ biggest two banks were among the largest holders of Greek bonds in Europe and had a substantial presence in Greece through bank branches and subsidiaries. Following numerous downgrades of its credit rating, Cyprus lost access to international capital markets in May 2011. In July 2012, Cyprus became the fifth euro-zone government to request an economic bailout program from the European Commission, European Central Bank and the International Monetary Fund – known collectively as the “Troika.”

Shortly after the election of President Nikos ANASTASIADES in February 2013, Cyprus reached an agreement with the Troika on a $13 billion bailout that resulted in losses on uninsured bank deposits. The bailout triggered a two-week bank closure and the imposition of capital controls that remained partially in place until April 2015. Cyprus’ two largest banks merged and the combined entity was recapitalized through conversion of some large bank deposits to shares and imposition of losses on bank bondholders. As with other EU countries, the Troika conditioned the bailout on passing financial and structural reforms and privatizing state-owned enterprises. Despite downsizing and restructuring, the Cypriot financial sector throughout 2015 remained burdened by the largest stock of non-performing loans in the euro zone, equal to nearly half of all loans. Since the bailout, Cyprus has received positive appraisals by the Troika and outperformed fiscal targets but has struggled to overcome political opposition to bailout-mandated legislation, particularly regarding privatizations. Cyprus emerged from recession in 2015 and its economy grew an estimated 1.6% for the year, setting a positive tone for the scheduled end of the bailout program in March 2016.

In October 2013, a US-Israeli consortium completed preliminary appraisals of hydrocarbon deposits in Cyprus’ exclusive economic zone (EEZ), which revealed an estimated gross mean reserve of about 130 billion cubic meters. Though exploration continues in Cyprus’ EEZ, no additional commercially exploitable reserves were identified during the exploratory drilling in 2014/2015. Developing offshore hydrocarbon resources remains a critical component of the government’s economic recovery efforts, but development has been delayed as a result of regional developments and disagreements about exploitation methods.

Economy – overview: Even though the whole of the island is part of the EU, implementation of the EU “acquis communautaire” has been suspended in the area administered by Turkish Cypriots, known locally as the “Turkish Republic of Northern Cyprus” (“TRNC”), until political conditions permit the reunification of the island. The market-based economy of the “TRNC” is roughly one-fifth the size of its southern neighbor and is likewise dominated by the service sector with a large portion of the population employed by the government. In 2012 – the latest year for which data are available – the services sector, which includes the public sector, trade, tourism, and education, contributed 58.7% to economic output. In the same year, light manufacturing and agriculture contributed 2.7% and 6.2%, respectively. Manufacturing is limited mainly to food and beverages, furniture and fixtures, construction materials, metal and non-metal products, textiles and clothing. The “TRNC” maintains few economic ties with the Republic of Cyprus outside of trade in construction materials. Since its creation, the “TRNC” has heavily relied on financial assistance from Turkey, which supports the “TRNC” defense, telecommunications, water and postal services. The Turkish Lira is the preferred currency, though foreign currencies are widely accepted in business transactions. The “TRNC” remains vulnerable to the Turkish market and monetary policy because of its use of the Turkish Lira. The “TRNC” weathered the European financial crisis relatively unscathed – compared to the Republic of Cyprus – because of the lack of financial sector development, the health of the Turkish economy, and its separation from the rest of the island. The “TRNC” economy experienced growth estimated at 2.8% in 2013 and 2.3% in 2014 and is projected to grow 3.8% in 2015.

GDP (purchasing power parity):

$28.06 billion (2015 EST.)

$27.62 billion (2014 EST.)

$28.33 billion (2013 EST.)

Note: data are in 2015 US dollars

GDP (purchasing power parity): $1.829 billion (2007 EST.)

Country comparison to the world: 133

GDP (official exchange rate):

$19.33 billion (2015 EST.)

GDP – real growth rate:

1.6% (2015 EST.)

-2.5% (2014 EST.)

-5.9% (2013 EST.)

GDP – real growth rate: 2.3% (2014 EST.)

Country comparison to the world: 150

GDP – per capita (PPP):

$32,800 (2015 EST.)

$32,600 (2014 EST.)

$33,000 (2013 EST.)

Note: data are in 2015 US dollars

Country comparison to the world: 56

Gross national saving:

10.2% of GDP (2015 EST.)

8.6% of GDP (2014 EST.)

8.7% of GDP (2013 EST.)

Country comparison to the world: 152

GDP – composition, by end use:

Household consumption: 69.4%

Government consumption: 14.7%

Investment in fixed capital: 10.7%

Investment in inventories: 1%

Exports of goods and services: 55.9%

Imports of goods and services: -51.7% (2015 EST.)

GDP – composition, by sector of origin:

Agriculture: 2.1%

Industry: 10.3%

Services: 87.4% (2014 EST.)

Agriculture – products:

Citrus, vegetables, barley, grapes, olives, vegetables; poultry, pork, lamb; dairy, cheese

Agriculture – products: citrus fruit, dairy, potatoes, grapes, olives, poultry, lamb

Industries:

tourism, food and beverage processing, cement and gypsum, ship repair and refurbishment, textiles, light chemicals, metal products, wood, paper, stone and clay products

Industries: foodstuffs, textiles, clothing, ship repair, clay, gypsum, copper, furniture

Industrial production growth rate:

-2.3% (2015 EST.)

Industrial production growth rate: -0.3% (2007 EST.)

Country comparison to the world: 181

Labor force:

349,700 (2014 EST.)

Labor force: 95,030 (2007 EST.)

Country comparison to the world: 160

Labor force – by occupation:

Agriculture: 3.8%

Industry: 15.2%

Services: 81% (2014 EST.)

Labor force – by occupation: agriculture: 14.5%, industry: 29%, services: 56.5% (2004)

Unemployment rate:

15.5% (2015 EST.)

16.1% (2014 EST.)

Unemployment rate: 9.4% (2005 EST.)

Country comparison to the world: 155

Population below poverty line:

NA%

Population below poverty line: %NA

Household income or consumption by percentage share:

Lowest 10%: 3.3%

Highest 10%: 28.8% (2014)

Distribution of family income – Gini index:

34.8 (2014 EST.)

32.4 (2013 EST.)

Country comparison to the world: 95

Budget:

Revenues: $7.743 billion

Expenditures: $7.857 billion (2015 EST.)

Budget: revenues: $2.5 billion, expenditures: $2.5 billion (2006)

Taxes and other revenues:

39.9% of GDP (2015 EST.)

Country comparison to the world: 40

Budget surplus (+) or deficit (-):

-1% of GDP (2015 EST.)

Country comparison to the world: 54

Public debt:

108.4% of GDP (2015 EST.)

108.2% of GDP (2014 EST.)

note: data cover general government debt and include debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data exclude debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment

Country comparison to the world: 11

 

Fiscal year:

Calendar year

Inflation rate (consumer prices):

-1.5% (2015 EST.)

-0.3% (2014 EST.)

Country comparison to the world: 6

Central bank discount rate:

0.05% (31 December 2013)

0.3% (31 December 2010)

Note: this is the European Central Bank’s rate on the marginal lending facility, which offers overnight credit to banks in the euro area

Country comparison to the world: 154

Commercial bank prime lending rate:

4.7% (31 December 2015 EST.)

5.88% (31 December 2014 EST.)

Country comparison to the world: 150

Stock of narrow money:

$3.44 billion (31 December 2015 EST.)

$4.382 billion (31 December 2014 EST.)

Note: see entry for the European Union for money supply for the entire euro area; the European Central Bank (ECB) controls monetary policy for the 18 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders

Country comparison to the world: 110

Stock of broad money:

$43.41 billion (31 December 2014 EST.)

$47.99 billion (31 December 2013 EST.)

Country comparison to the world: 72

Stock of domestic credit:

$50.49 billion (31 December 2015 EST.)

$65.42 billion (31 December 2014 EST.)

Country comparison to the world: 61

Market value of publicly traded shares:

$1.996 billion (31 December 2012 EST.)

$2.853 billion (31 December 2011)

$6.834 billion (31 December 2010 EST.)

Country comparison to the world: 101

Current account balance:

-$992 million (2015 EST.)

-$1.052 billion (2014 EST.)

Country comparison to the world: 121

Exports:

$1.818 billion (2014 EST.)

$2.018 billion (2013 EST.)

Exports: $68.1 million, f.o.b. (2007 EST.)

Country comparison to the world: 143

Exports – commodities:

Citrus, potatoes, pharmaceuticals, cement, clothing

Exports – partners:

Greece 10.9%, Ireland 10.2%, UK 7.2%, Israel 6% (2015)

Imports:

$6.755 billion (2014 EST.)

$6.32 billion (2013 EST.)

Imports: $1.2 billion, f.o.b. (2007 EST.)

Country comparison to the world: 115

Imports – commodities:

Consumer goods, petroleum and lubricants, machinery, transport equipment

Imports – partners:

Greece 25.7%, UK 9.1%, Italy 8%, Germany 7.5%, Israel 5.5%, China 4.8%, Netherlands 4.1% (2015)

Reserves of foreign exchange and gold:

$864 million (31 December 2015 EST.)

$890.9 million (31 December 2014 EST.)

Reserves of foreign exchange and gold: $NA

Country comparison to the world: 138

Debt – external:

$95.28 billion (31 December 2013 EST.)

$103.5 billion (31 December 2012 EST.)

Debt – external: $NA

Country comparison to the world: 54

Stock of direct foreign investment – at home:

$60.35 billion (31 December 2015 EST.)

$59.1 billion (31 December 2014 EST.)

Country comparison to the world: 56

Stock of direct foreign investment – abroad:

$43.82 billion (31 December 2015 EST.)

$42.87 billion (31 December 2014 EST.)

Country comparison to the world: 43

Exchange rates:

Euros (EUR) per US dollar –

0.885 (2015 EST.)

0.7525 (2014 EST.)

0.7634 (2013 EST.)

0.78 (2012 EST.)

0.7185 (2011 EST.)

Exchange rates: Turkish new lira per US dollar: 1.9 (2013) 1.8 (2012) 1.668 (2011) 1.5026 (2010) 1.55 (2009)

Economy of the area administered by Turkish Cypriots:

Economy – overview: Even though the whole of the island is part of the EU, implementation of the EU “acquis communautaire” has been suspended in the area administered by Turkish Cypriots, known locally as the “Turkish Republic of Northern Cyprus” (“TRNC”), until political conditions permit the reunification of the island. The market-based economy of the “TRNC” is roughly one-fifth the size of its southern neighbor and is likewise dominated by the service sector with a large portion of the population employed by the government. In 2012 – the latest year for which data are available – the services sector, which includes the public sector, trade, tourism, and education, contributed 58.7% to economic output. In the same year, light manufacturing and agriculture contributed 2.7% and 6.2%, respectively. Manufacturing is limited mainly to food and beverages, furniture and fixtures, construction materials, metal and non-metal products, textiles and clothing. The “TRNC” maintains few economic ties with the Republic of Cyprus outside of trade in construction materials. Since its creation, the “TRNC” has heavily relied on financial assistance from Turkey, which supports the “TRNC” defense, telecommunications, water and postal services. The Turkish Lira is the preferred currency, though foreign currencies are widely accepted in business transactions. The “TRNC” remains vulnerable to the Turkish market and monetary policy because of its use of the Turkish Lira. The “TRNC” weathered the European financial crisis relatively unscathed – compared to the Republic of Cyprus – because of the lack of financial sector development, the health of the Turkish economy, and its separation from the rest of the island. The “TRNC” economy experienced growth estimated at 2.8% in 2013 and 2.3% in 2014 and is projected to grow 3.8% in 2015.

GDP (purchasing power parity): $1.829 billion (2007 EST.)

GDP – real growth rate: 2.3% (2014 EST.)

2.8% (2013 EST.)

GDP – per capita: $11,700 (2007 EST.)

GDP – composition by sector: agriculture: 6.2%, industry: 35.1%, services: 58.7% (2012 EST.)

Labor force: 95,030 (2007 EST.)

Labor force – by occupation: agriculture: 14.5%, industry: 29%, services: 56.5% (2004)

Unemployment rate: 9.4% (2005 EST.)

Population below poverty line: %NA

Inflation rate: 11.4% (2006)

Budget: revenues: $2.5 billion, expenditures: $2.5 billion (2006)

Agriculture – products: citrus fruit, dairy, potatoes, grapes, olives, poultry, lamb

Industries: foodstuffs, textiles, clothing, ship repair, clay, gypsum, copper, furniture

Industrial production growth rate: -0.3% (2007 EST.)

Electricity production: 998.9 million kWh (2005)

Electricity consumption: 797.9 million kWh (2005)

Exports: $68.1 million, f.o.b. (2007 EST.)

Export – commodities: citrus, dairy, potatoes, textiles

Export – partners: Turkey 40%; direct trade between the area administered by Turkish Cypriots and the area under government control remains limited

Imports: $1.2 billion, f.o.b. (2007 EST.)

Import – commodities: vehicles, fuel, cigarettes, food, minerals, chemicals, machinery

Import – partners: Turkey 60%; direct trade between the area administered by Turkish Cypriots and the area under government control remains limited

Reserves of foreign exchange and gold: $NA

Debt – external: $NA

Currency (code): Turkish new lira (YTL)

Exchange rates: Turkish new lira per US dollar: 1.9 (2013) 1.8 (2012) 1.668 (2011) 1.5026 (2010) 1.55 (2009)

Energy: CYPRUS

Electricity – production:

3.942 billion kWh (2013 EST.)

Country comparison to the world: 125

Electricity – consumption:

4.296 billion kWh (2012 EST.)

Country comparison to the world: 122

Electricity – exports:

0 kWh (2013 EST.)

Country comparison to the world: 130

Electricity – imports:

0 kWh (2013 EST.)

Country comparison to the world: 140

Electricity – installed generating capacity:

1.658 million kW (2012 EST.)

Country comparison to the world: 113

Electricity – from fossil fuels:

90% of total installed capacity (2012 EST.)

Country comparison to the world: 77

Electricity – from nuclear fuels:

0% of total installed capacity (2012 EST.)

Country comparison to the world: 77

 

Electricity – from hydroelectric plants:

0% of total installed capacity (2012 EST.)

Country comparison to the world: 169

Electricity – from other renewable sources:

10% of total installed capacity (2012 EST.)

Country comparison to the world: 38

Crude oil – production:

0 bbl. /day (2014 EST.)

Country comparison to the world: 124

Crude oil – exports:

0 bbl. /day (2012 EST.)

Country comparison to the world: 115

Crude oil – imports:

0 bbl. /day (2012 EST.)

Country comparison to the world: 180

Crude oil – proved reserves:

0 bbl. (1 January 2015 EST.)

Country comparison to the world: 123

Refined petroleum products – production:

0 bbl. /day (2012 EST.)

Country comparison to the world: 173

Refined petroleum products – consumption:

53,000 bbl. /day (2013 EST.)

Country comparison to the world: 97

Refined petroleum products – exports:

0 bbl. /day (2012 EST.)

Country comparison to the world: 174

Refined petroleum products – imports:

52,480 bbl. /day (2012 EST.)

Country comparison to the world: 78

Natural gas – production:

0 cu m (2013 EST.)

Country comparison to the world: 177

Natural gas – consumption:

0 cu m (2013 EST.)

Country comparison to the world: 136

Natural gas – exports:

0 cu m (2013 EST.)

Country comparison to the world: 87

Natural gas – imports:

0 cu m (2013 EST.)

Country comparison to the world: 187

Natural gas – proved reserves:

141.6 billion cu m (1 January 2014 EST.)

Country comparison to the world: 49

Carbon dioxide emissions from consumption of energy:

8.801 million Mt (2012 EST.)

Country comparison to the world: 107

 

 

Communications: CYPRUS

Telephones – fixed lines:

Total subscriptions: 323,707

Subscriptions per 100 inhabitants: 27 (July 2015 EST.)

Country comparison to the world: 112

Telephones – mobile cellular:

Total: 1.111 million

Subscriptions per 100 inhabitants: 93 (July 2015 EST.)

Country comparison to the world: 157

Telephone system:

General assessment: excellent in both area under government control and area administered by Turkish Cypriots

Domestic: open-wire, fiber-optic cable, and microwave radio relay

international: country code – 357 (area administered by Turkish Cypriots uses the country code of Turkey – 90); a number of submarine cables, including the SEA-ME-WE-3, combine to provide connectivity to Western Europe, the Middle East, and Asia; tropospheric scatter; satellite earth stations – 8 (3 Intelsat – 1 Atlantic Ocean and 2 Indian Ocean, 2 Eutelsat, 2 Intersputnik, and 1 Arabsat)

Broadcast media:

mixture of state and privately run TV and radio services; the public broadcaster operates 2 TV channels and 4 radio stations; 6 private TV broadcasters, satellite and cable TV services including telecasts from Greece and Turkey, and a number of private radio stations are available; in areas administered by Turkish Cypriots, there are 2 public TV stations, 4 public radio stations, and privately owned TV and radio broadcast stations (2007)

Radio broadcast stations:

Area under government control: AM 5, FM 76, shortwave 0

Area administered by Turkish Cypriots: AM 1, FM 20, shortwave 1 (2004)

Television broadcast stations:

Area under government control: 8

Area administered by Turkish Cypriots: 2 (plus 4 relay) (2004)

Internet country code:

.cy

Internet hosts:

252,013 (2012)

Country comparison to the world: 67

Internet users:

Total: 853,000

Percent of population: 71.7% (July 2015 EST.)

Country comparison to the world: 127

Transportation: CYPRUS

Airports:

15 (2013)

Country comparison to the world: 145

Airports – with paved runways:

Total: 13

2,438 to 3,047 m: 7

1,524 to 2,437 m: 2

914 to 1,523 m: 3

Under 914 m: 1 (2013)

Airports – with unpaved runways:

Total: 2

Under 914 m: 2 (2013)

 

Heliports:

9 (2013)

Roadways:

Total: 20,006 km

Government control: 13,006 km (includes 2,277 km of expressways)

Paved: 8,564 km

Unpaved: 4,442 km

Turkish Cypriot control: 7,000 km (2011)

Country comparison to the world: 108

Merchant marine:

Total: 838

by type: bulk carrier 278, cargo 163, chemical tanker 77, container 201, liquefied gas 11, passenger 3, passenger/cargo 25, petroleum tanker 62, refrigerated cargo 5, roll on/roll off 9, vehicle carrier 4

foreign-owned: 622 (Angola 1, Austria 1, Belgium 3, Bermuda 1, Canada 2, China 6, Denmark 6, Estonia 6, France 16, Germany 192, Greece 201, Hong Kong 2, India 4, Iran 10, Ireland 3, Italy 6, Japan 16, Netherlands 23, Norway 14, Philippines 1, Poland 24, Portugal 2, Russia 46, Singapore 1, Slovenia 5, Spain 6, Sweden 5, Turkey 1, UAE 3, UK 7, Ukraine 3, US 5)

registered in other countries: 152 (Bahamas 23, Cambodia 4, Comoros 2, Finland 1, Gibraltar 1, Greece 3, Hong Kong 3, Liberia 9, Malta 32, Marshall Islands 40, Norway 1, Panama 5, Russia 13, Saint Vincent and the Grenadines 3, Sierra Leone 2, Singapore 6, unknown 4) (2010)

Country comparison to the world: 13

Ports and terminals:

Major seaport(s): area under government control: Arnica, Limassol, Vasilikos; area administered by Turkish Cypriots: Famagusta, Kyrenia

 

 

 

Military and Security: CYPRUS

Military branches:

Republic of Cyprus: Cypriot National Guard (Ethniki Froura, EF; includes naval and air elements); Northern Cyprus: Turkish Cypriot Security Force (GKK) (2014)

Military service age and obligation:

Cypriot National Guard (CNG): 18-50 years of age for compulsory military service for all Greek Cypriot males; 17 years of age for voluntary service; 14-month service obligation (2016)

Military expenditures:

2.1% of GDP (2013)

2.05% of GDP (2012)

2.14% of GDP (2011)

2.05% of GDP (2010)

Country comparison to the world: 37

Transnational Issues: CYPRUS

Disputes – international:

hostilities in 1974 divided the island into two de facto autonomous entities, the internationally recognized Cypriot Government and a Turkish-Cypriot community (north Cyprus); the 1,000-strong UN Peacekeeping Force in Cyprus (UNFICYP) has served in Cyprus since 1964 and maintains the buffer zone between north and south; on 1 May 2004, Cyprus entered the EU still divided, with the EU’s body of legislation and standards (acquis communitaire) suspended in the north; Turkey protests Cypriot Government creating hydrocarbon blocks and maritime boundary with Lebanon in March 2007

Refugees and internally displaced persons:

IDPs: 272,000 (both Turkish and Greek Cypriots; many displaced since 1974) (2015)

Illicit drugs:

minor transit point for heroin and hashish via air routes and container traffic to Europe, especially from Lebanon and Turkey; some cocaine transits as well; despite a strengthening of anti-money-laundering legislation, remains vulnerable to money laundering; reporting of suspicious transactions in offshore sector remains weak (2008)