Country Summary: Cyprus (Republic of Cyprus)
Country Name: Cyprus (Republic of Cyprus)
Capital: Nicosia
Government Type: Republic of Cyprus - presidential republic; self-declared "Turkish Republic of Northern Cyprus" (TRNC) - parliamentary republic with enhanced presidency
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 military 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 the "TRNC,” which is recognized only by Turkey
Background: A former British colony, Cyprus became independent in 1960 after 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 and forced 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 to reunite Cyprus, the Annan Plan, failed to win approval from both communities in 2004. The most recent round of reunification negotiations was suspended in 2017 after failure to achieve a breakthrough.
The entire island joined the EU in 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 TRNC. However, individual Turkish Cypriots able to document their eligibility for Republic of Cyprus citizenship have the same legal rights accorded to citizens of other EU states.
Continent: Europe
Population: 1,308,120 (2023 est.)
Ethnic Groups: Greek 98.8%, other 1% (includes Maronite, Armenian, Turkish-Cypriot), unspecified 0.2% (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 Republic of Cyprus (2011 est.)
Religions: Eastern Orthodox Christian 89.1%, Roman Catholic 2.9%, Protestant/Anglican 2%, Muslim 1.8%, Buddhist 1%, other (includes Maronite Catholic, Armenian Apostolic, Hindu) 1.4%, unknown 1.1%, none/atheist 0.6% (2011 est.)
Economic Overview: services-based, high-income EU island economy; heavy tourism; sustained growth between recovery of national banking system and COVID-19 trade restrictions; high living standards; a known financial hub, its stock exchange functions as an investment bridge between EU-and EEU-member countries
note: 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, until political conditions permit the reunification of the island. Its market-based economy 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. Manufacturing is limited mainly to food and beverages, furniture and fixtures, construction materials, metal and non-metal products, textiles and clothing. Little trade exists with the Republic of Cyprus outside of construction, historically relying heavily upon Turkey for financial aid, defense, telecommunications, utilities, and postal services. The Turkish Lira is the preferred currency, though foreign currencies are widely accepted in business transactions.
Currency: European Euro (EUR)
Reserves of Foreign Exchange & Gold: $1.671 billion (2022 est.) note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Real GDP (Purchasing Power Parity): $41.068 billion (2022 est.) note: data in 2017 dollars
Real GDP Growth Rate: 5.06% (2022 est.) note: annual GDP % growth based on constant local currency
Real GDP per Capita: $45,000 (2022 est.) note: data in 2017 dollars
Exports:
$27.72 billion (2022 est.) note: balance of payments - exports of goods and services in current dollars
Comparison Ranking: 81
Export Commodities: ships, refined petroleum, packaged medicines, cheese, recreational boats (2021) note: area administered by Turkish Cypriots - citrus, dairy, potatoes, textiles
Export Partners: India 9%, Greece 9%, Libya 8%, United Kingdom 7% (2019)
Imports:
$27.658 billion (2022 est.) note: balance of payments - imports of goods and services in current dollars
Comparison Ranking: 83
Import Commodities: refined petroleum, ships, cars, coal tar oil, packaged medicines (2019)
Import Partners: Greece 16%, Italy 10%, Turkey 8%, Russia 5%, Germany 5%, United Kingdom 5%, China 5% (2019)
Natural Resources: copper, pyrites, asbestos, gypsum, timber, salt, marble, clay earth pigment
Agricultural Products: milk, potatoes, pork, sheep milk, goat milk, barley, wheat, poultry, olives, tangerines/mandarins; note: area administered by Turkish Cypriots - 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; note: area administered by Turkish Cypriots - foodstuffs, textiles, clothing, ship repair, clay, gypsum, copper, furniture
Industrial Production Growth Rate:
-0.66% (2022 est.) note: annual % change in industrial value added based on constant local currency
Comparison Ranking: 175
Labor Force: 685,000 (2022 est.)
Unemployment Rate: 6.78% (2022 est.) note: % of labor force seeking employment
Natural Hazards: Geography:
Total: 9,251 sq km
Land: 9,241 sq km
Water: 10 sq km
(Country Summary, The World Factbook, CIA.gov)
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