Names: 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" (TRNC)
Capital City: Nicosia (Lefkosia)
Population: 784,301 (July 2006 est.)
GDP Per Capita: Republic of Cyprus: $22,700 (2005 est.); north Cyprus: $7,135 (2004 est.) (2006 est.)
Currency: Republic of Cyprus: Cypriot pound (CYP); Turkish Cypriot area: Turkish New lira (YTL)
Languages: Greek, Turkish, English
Total Area: total: 9,250 sq km (of which 3,355 sq km are in north Cyprus) land: 9,240 sq km water: 10 sq km about 0.6 times the size of Connecticut
Region: Europe
Industries: tourism, food and beverage processing, cement and gypsum production, ship repair and refurbishment, textiles, light chemicals, metal products, wood, paper, stone, and clay products
Agriculture: citrus, vegetables, barley, grapes, olives, vegetables; poultry, pork, lamb; dairy, cheese
Resources: copper, pyrites, asbestos, gypsum, timber, salt, marble, clay earth pigment
Labor Force:
Republic of Cyprus: 380,000, north Cyprus: 95,025 (2006 est.)
Republic of Cyprus: agriculture 7.4%, industry 38.2%, services 54.4% (2004 est.) north Cyprus: agriculture 14.5%, industry 29%, services 56.5% (2004 est.)
Exports:
Republic of Cyprus: $1.34 billion f.o.b.; north Cyprus: $69 million f.o.b. (2006 est.)
Republic of Cyprus: citrus, potatoes, pharmaceuticals, cement, clothing and cigarettes; north Cyprus: citrus, potatoes, textiles
Imports:
Republic of Cyprus: $5.8 billion f.o.b.; north Cyprus: $415.2 million f.o.b. (2006 est.)
Republic of Cyprus: consumer goods, petroleum and lubricants, intermediate goods, machinery, transport equipment; north Cyprus: vehicles, fuel, cigarettes, food, minerals, chemicals, machinery
Overview:
The Republic of Cyprus has a market economy dominated by the service sector, which accounts for 76% of GDP. Tourism and financial services are the most important sectors; erratic growth rates over the past decade reflect the economy's reliance on tourism, which often fluctuates with political instability in the region and economic conditions in Western Europe. Nevertheless, the economy grew a healthy 3.7% per year in 2004 and 2005, well above the EU average. Cyprus joined the European Exchange Rate Mechanism (ERM2) in May 2005. The government has initiated an aggressive austerity program, which has cut the budget deficit to below 3% but continued fiscal discipline is necessary if Cyprus is to meet its goal of adopting the euro on 1 January 2008. As in the area administered by Turkish Cypriots, water shortages are a perennial problem; a few desalination plants are now on line. After 10 years of drought, the country received substantial rainfall from 2001-03 alleviating immediate concerns. The Turkish Cypriot economy has roughly one-third of the per capita GDP of the south, and economic growth tends to be volatile, given north Cyprus's relative isolation, bloated public sector, reliance on the Turkish lira, and small market size. The Turkish Cypriot economy grew 15.4% in 2004, fueled by growth in the construction and education sectors, as well as increased employment of Turkish Cypriots in the Republic of Cyprus. The Turkish Cypriots are heavily dependent on transfers from the Turkish Government. Under the 2003-06 economic protocol, Ankara planned to provide around $700 million to the "TRNC." Agriculture and services, together, employ more than half of the work force.
In 2007 Missouri exported $649,193 in goods to Cyprus. This ranks Cyprus 124th among the 223 international buyers of Missouri goods. Missouri exports to Cyprus decreased from the previous year by $223,928 a change of -25.65%. State exports to Cyprus have increased over the last 5 years by $203,101 a change of 45.53%. Missouri exports account for .00%. of all 2007 US exports to Cyprus.
| NAICS Industry | Annual | ||||||
|---|---|---|---|---|---|---|---|
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | ||
| 000 - Total All Industries MO | 446,092 | 438,069 | 688,521 | 332,787 | 873,121 | 649,193 | |
| 000 - Total All Industries US | 193,359,289 | 326,864,693 | 96,239,644 | 83,599,825 | 240,179,178 | 169,018,830 | |