2018 Edition

Background

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. The most recent round of negotiations to reunify the island were suspended in July 2017 after failure to achieve a breakthrough. 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.

Area

land

9,241 sq km

total

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

water

10 sq km

Area Comparative

about 0.6 times the size of Connecticut

Climate

temperate; Mediterranean with hot, dry summers and cool winters

Coastline

648 km

Elevation

elevation extremes

0 m lowest point: Mediterranean Sea

mean elevation

91 m

note

1951 highest point: Mount Olympus

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, industrial wastes, and pesticides; coastal degradation; erosion; 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

Geographic Coordinates

35 00 N, 33 00 E

Geography Note

the third largest island in the Mediterranean Sea (after Sicily and Sardinia); several small Cypriot enclaves exist within the Dhekelia Sovereign Base Area

Irrigated Land

460 sq km (2012)

Land Boundaries

border sovereign base areas

Akrotiri 48 km, Dhekelia 108 km

total

156 km

Land Use

arable land: 9.8% (2011 est.) / permanent crops: 3.2% (2011 est.) / permanent pasture: 0.4% (2011 est.)

agricultural land

13.4% (2011 est.)

forest

18.8% (2011 est.)

other

67.8% (2011 est.)

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

Maritime Claims

contiguous zone

24 nm

continental shelf

200-m depth or to the depth of exploitation

territorial sea

12 nm

Natural Hazards

moderate earthquake activity; droughts

Natural Resources

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

Population Distribution

population concentrated in central Nicosia and in the major cities of the south: Paphos, Limassol, and Larnaca

Terrain

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

Age Structure

0-14 years

15.64% (male 99,390 /female 94,053)

15-24 years

13.25% (male 89,265 /female 74,607)

25-54 years

47.11% (male 308,190 /female 274,632)

55-64 years

11.62% (male 68,952 /female 74,842)

65 years and over

12.38% (male 66,209 /female 86,948) (2018 est.)

Birth Rate

11.2 births/1,000 population (2018 est.)

Death Rate

6.8 deaths/1,000 population (2018 est.)

Dependency Ratios

elderly dependency ratio

18.3 (2015 est.)

note

data represent the whole country

potential support ratio

5.5 (2015 est.)

total dependency ratio

42.3 (2015 est.)

youth dependency ratio

24 (2015 est.)

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.)

Education Expenditures

6.1% of GDP (2014)

Ethnic Groups

Greek 98.8%, other 1% (includes Maronite, Armenian, Turkish-Cypriot), unspecified 0.2% (2011 est.)

note

data represent only the government-controlled area of Cyprus

Health Expenditures

7.4% of GDP (2014)

Hiv Aids Adult Prevalence Rate

0.1% (2017 est.)

Hiv Aids Deaths

<100 (2017 est.)

Hiv Aids People Living With Hiv Aids

<1000 (2017 est.)

Hospital Bed Density

3.4 beds/1,000 population (2013)

Infant Mortality Rate

female

6.2 deaths/1,000 live births (2018 est.)

male

9 deaths/1,000 live births (2018 est.)

total

7.7 deaths/1,000 live births (2018 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% (2011 est.)

note

data represent only the government-controlled area of Cyprus

Life Expectancy At Birth

female

81.9 years (2018 est.)

male

76.2 years (2018 est.)

total population

79 years (2018 est.)

Literacy

definition

age 15 and over can read and write (2015 est.)

female

98.7% (2015 est.)

male

99.5% (2015 est.)

total population

99.1% (2015 est.)

Major Urban Areas Population

269,000 NICOSIA (capital) (2018)

Maternal Mortality Rate

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

Median Age

female

38.7 years (2018 est.)

male

35.9 years

total

37.2 years

Mother S Mean Age At First Birth

28.8 years (2014 est.)

note

data represent only government-controlled areas

Nationality

adjective

Cypriot

noun

Cypriot(s)

Net Migration Rate

8.7 migrant(s)/1,000 population (2017 est.)

Obesity Adult Prevalence Rate

21.8% (2016)

People Note

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

Physicians Density

2.5 physicians/1,000 population (2014)

Population

1,237,088 (July 2018 est.)

Population Growth Rate

1.27% (2018 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% (2011 est.)

note

data represent only the government-controlled area of Cyprus

Sanitation Facility Access

improved: urban: 100% of population (2015 est.)

rural: 100% of population (2015 est.)

total: 100% of population (2015 est.)

unimproved: urban: 0% of population (2015 est.)

rural: 0% of population (2015 est.)

total: 0% of population (2015 est.)

School Life Expectancy Primary To Tertiary Education

female

15 years (2015)

male

14 years (2015)

total

15 years (2015)

Sex Ratio

0-14 years

1.06 male(s)/female (2017 est.)

15-24 years

1.19 male(s)/female (2017 est.)

25-54 years

1.11 male(s)/female (2017 est.)

55-64 years

0.92 male(s)/female (2017 est.)

65 years and over

0.77 male(s)/female (2017 est.)

at birth

1.05 male(s)/female (2017 est.)

total population

1.04 male(s)/female (2017 est.)

Total Fertility Rate

1.47 children born/woman (2018 est.)

Unemployment Youth Ages 15 24

female

31.8% (2016 est.)

male

25.8% (2016 est.)

total

29.1% (2016 est.)

Urbanization

rate of urbanization

0.75% annual rate of change (2015-20 est.)

urban population

66.8% of total population (2018)

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), Lefkosa (Nicosia)

Capital

daylight saving time

+1hr, begins last Sunday in March; ends last Sunday in October

geographic coordinates

35 10 N, 33 22 E

name

Nicosia (Lefkosia/Lefkosa)

time difference

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

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

Constitution

amendments

constitution of the Republic of Cyprus - proposed by the House of Representatives; passage requires at least two-thirds majority vote of the total membership of the "Greek Community" and the "Turkish Community"; however, all seats of Turkish Cypriot members have remained vacant since 1964; amended several times, last in 2016 (2016)

history

ratified 16 August 1960; 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)

note

constitution of the “Turkish Republic of Northern Cyprus” - proposed by at least 10 members of the Assembly of the Republic; passage requires at least two-thirds majority vote of the total Assembly membership and approval by referendum; amended 2014

Country Name

conventional long form

Republic of Cyprus

conventional short form

Cyprus

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

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")

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

FAX

[357] (22) 393344

mailing address

P. O. Box 24536, 1385 Nicosia

telephone

[357] (22) 393939

Diplomatic Representation In The Us

chancery

2211 R Street NW, Washington, DC 20008

chief of mission

Ambassador Marios LYSIOTIS (since 17 September 2018)

consulate(s) general

New York

FAX

[1] (202) 483-6710

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

telephone

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

Executive Branch

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

chief of state

President  Nikos "Nick" ANASTASIADES (since 28 February 2013); the president is both chief of state and head of government; note - vice presidency reserved for a Turkish Cypriot, but vacant since 1974 because Turkish Cypriots do not participate in the Cyprus Government

election results

Nick ANASTASIADES reelected president in second round; percent of vote in first round - Nick ANASTASIADES (DISY) 35.5%, Stavros MALAS (AKEL) 30.2%, Nicolas PAPADOPOULOS (DIKO) 25.7%, other 8.6%; percent of vote in second round - Nick ANASTASIADES 56%, Savros MALAS 44%

elections/appointments

president directly elected by absolute majority popular vote in 2 rounds if needed for a 5-year term; election last held on 28 January 2018 with a runoff on 4 February 2018 (next to be held in February 2023)

head of government

President Nick ANASTASIADES (since 28 February 2013)

note

Mustafa AKINCI assumed office as "president" of the "TRNC" on 30 April 2015; percent of vote in first round (19 April 2015) - Dervis EROGLU 28.2%, Mustafa AKINCI 26.9%, other 44.9%; percent of vote in runoff (26 April 2015) - AKINCI 60.5%, EROGLU 39.5%; Tufan ERHURMAN is "TRNC prime minister" (since 2 February 2018)

Flag Description

centered on a white field is a copper-colored silhouette of the island (the island has long been famous for its copper deposits) above two olive-green-colored, crossed olive branches; the branches symbolize the hope for peace and reconciliation between the Greek and Turkish communities

note

one of only two national flags that uses a map as a design element; the flag of Kosovo is the othernote: 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

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

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

International Law Organization Participation

accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction

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

Judicial Branch

highest courts

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; judges can serve 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; Administrative Court; specialized courts for issues relating to family, industrial disputes, military, and rent control; "TRNC Assize Courts"; "district and family courts"

Legal System

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

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)

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%, SP 6% Solidarity Movement 5.2%, other 11.7%; seats by party - DISY 18, AKEL 16, DIKO 9, KS-EDEK 3, Citizen's Alliance 3 (2 left the party in 2017 and 2018 due to disagreements over the party's policy regarding the presidential election campaign; the two became independent MPs), Solidarity Movement 3, other 4; area administered by Turkish Cypriots: "Assembly of the Republic" - percent of vote by party - UBP 35.6%, CTP 20.9%, HP 17.1%, TDP 8.6%, DP 7.8%, YDP 7%, 3%; seats by party - UBP 21, CTP 12, HP 9, DP 3, TDP 3, YDP 2

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 7 January 2018 (next to be held in 2023)

National Anthem

lyrics/music

Dionysios SOLOMOS/Nikolaos MANTZAROS

name

"Ymnos eis tin Eleftherian" (Hymn to Liberty)

note

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

National Holiday

Independence Day, 1 October (1960); note - Turkish Cypriots celebrate 15 November (1983) as "Republic Day"

National Symbol S

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

Political Parties And Leaders

area under government control: Citizens' Alliance or SP [Giorgos LILLIKAS]; Democratic Party or DIKO [Nicolas PAPADOPOULOS]; Democratic Rally or DISY [Averof NEOPHYTOU]; Ecological and Environmental Movement or KOP (Green party) [Giorgos PERDIKIS]; Movement of Social Democrats-United Democratic Center Union 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]; Communal Liberation Party-New Forces or TKP-YG [Mehmet CAKICI]; Democratic Party or DP [Serdar DENKTAS]; National Democratic Party or NDP [Buray BUSKUVUTCU]; National Unity Party or UBP [Huseyin OZGURGUN]; People's Party or HP [Kudret OZERSAY]; Rebirth Party or YDP [Erhan ARIKLI]; Republican Turkish Party or CTP [Tufan ERHURMAN]; United Cyprus Party or BKP [Izzet IZCAN]

Suffrage

18 years of age; universal

Agriculture Products

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

Budget

expenditures

8.275 billion (2017 est.)

revenues

8.663 billion (2017 est.)

Budget Surplus Or Deficit

1.8% (of GDP) (2017 est.)

Central Bank Discount Rate

0% (31 December 2017)

0% (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

Commercial Bank Prime Lending Rate

4.13% (31 December 2017 est.)

4.33% (31 December 2016 est.)

Current Account Balance

-$1.458 billion (2017 est.)

-$984 million (2016 est.)

Debt External

$95.28 billion (31 December 2013 est.)

$103.5 billion (31 December 2012 est.)

Distribution Of Family Income Gini Index

34.8 (2014 est.)

32.4 (2013 est.)

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);

Economy Overview

The area of the Republic of Cyprus under government control has a market economy dominated by a services sector that accounts for more than four-fifths of GDP. Tourism, finance, shipping, and real estate have traditionally been the most important services. 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 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 remains 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. The rate of non-performing loans (NPLs) is still very high at around 49%, and growth would accelerate if Cypriot banks could increase the pace of resolution of the NPLs.In October 2013, a US-Israeli consortium completed preliminary appraisals of hydrocarbon deposits in Cyprus’ exclusive economic zone (EEZ), which estimated gross mean reserves of about 130 billion cubic meters. Though exploration continues in Cyprus’ EEZ, no additional commercially exploitable reserves have been identified. 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.

Exchange Rates

euros (EUR) per US dollar -

0.885 (2017 est.)

0.903 (2016 est.)

0.9214 (2015 est.)

0.885 (2014 est.)

0.7634 (2013 est.)

Exports

$2.805 billion (2017 est.)

$2.7 billion (2016 est.)

Exports Commodities

citrus, potatoes, pharmaceuticals, cement, clothing

Exports Partners

Libya 9.4%, Greece 7.7%, Norway 6.7%, UK 5.3%, Germany 4.1% (2017)

Fiscal Year

calendar year

Gdp Composition By End Use

exports of goods and services

63.8% (2017 est.)

government consumption

14.9% (2017 est.)

household consumption

68.7% (2017 est.)

imports of goods and services

-67.8% (2017 est.)

investment in fixed capital

21.1% (2017 est.)

investment in inventories

-0.7% (2017 est.)

Gdp Composition By Sector Of Origin

agriculture

2% (2017 est.)

industry

12.5% (2017 est.)

services

85.5% (2017 est.)

Gdp Official Exchange Rate

$21.7 billion (2017 est.) (2017 est.)

Gdp Per Capita Ppp

$37,200 (2017 est.)

$36,100 (2016 est.)

$34,900 (2015 est.)

note

data are in 2017 dollars

Gdp Purchasing Power Parity

$31.78 billion (2017 est.)

$30.59 billion (2016 est.)

$29.58 billion (2015 est.)

note

data are in 2017 dollars

Gdp Real Growth Rate

3.9% (2017 est.)

3.4% (2016 est.)

2% (2015 est.)

Gross National Saving

13.7% of GDP (2017 est.)

11.9% of GDP (2016 est.)

12.8% of GDP (2015 est.)

Household Income Or Consumption By Percentage Share

highest 10%

28.8% (2014)

lowest 10%

28.8% (2014)

Imports

$7.935 billion (2017 est.)

$7.153 billion (2016 est.)

Imports Commodities

consumer goods, petroleum and lubricants, machinery, transport equipment

Imports Partners

Greece 19%, Italy 7.5%, China 7.4%, South Korea 7.3%, Germany 7%, Netherlands 5.1%, UK 5%, Israel 4.1% (2017)

Industrial Production Growth Rate

13.4% (2017 est.)

Industries

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

Inflation Rate Consumer Prices

0.7% (2017 est.)

-1.2% (2016 est.)

Labor Force

426,600 (2017 est.)

Labor Force By Occupation

agriculture

3.8%

industry

15.2%

services

81% (2014 est.)

Market Value Of Publicly Traded Shares

$2.692 billion (31 December 2015 est.)

$4.031 billion (31 December 2014 est.)

$2.105 billion (31 December 2013 est.)

Population Below Poverty Line

NA

Public Debt

97.5% of GDP (2017 est.)

106.6% of GDP (2016 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 intragovernmental debt; intragovernmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment

Reserves Of Foreign Exchange And Gold

$888.2 million (31 December 2017 est.)

$817.7 million (31 December 2016 est.)

Stock Of Broad Money

$5.152 billion (31 December 2017 est.)

$4.174 billion (31 December 2016 est.)

Stock Of Direct Foreign Investment Abroad

$222.9 billion (31 December 2017 est.)

$175.3 billion (31 December 2016 est.)

Stock Of Direct Foreign Investment At Home

$232.5 billion (31 December 2017 est.)

$174.5 billion (31 December 2016 est.)

Stock Of Domestic Credit

$55.61 billion (31 December 2017 est.)

$50.84 billion (31 December 2016 est.)

Stock Of Narrow Money

$5.152 billion (31 December 2017 est.)

$4.174 billion (31 December 2016 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

Taxes And Other Revenues

39.9% (of GDP) (2017 est.)

Unemployment Rate

11.1% (2017 est.)

13% (2016 est.)

Carbon Dioxide Emissions From Consumption Of Energy

7.72 million Mt (2017 est.)

Crude Oil Exports

0 bbl/day (2015 est.)

Crude Oil Imports

0 bbl/day (2015 est.)

Crude Oil Production

0 bbl/day (2017 est.)

Crude Oil Proved Reserves

0 bbl (1 January 2018 est.)

Electricity Access

electrification - total population

100% (2016)

Electricity Consumption

4.355 billion kWh (2016 est.)

Electricity Exports

0 kWh (2016 est.)

Electricity From Fossil Fuels

85% of total installed capacity (2016 est.)

Electricity From Hydroelectric Plants

0% of total installed capacity (2017 est.)

Electricity From Nuclear Fuels

0% of total installed capacity (2017 est.)

Electricity From Other Renewable Sources

15% of total installed capacity (2017 est.)

Electricity Imports

0 kWh (2016 est.)

Electricity Installed Generating Capacity

1.77 million kW (2016 est.)

Electricity Production

4.618 billion kWh (2016 est.)

Natural Gas Consumption

0 cu m (2017 est.)

Natural Gas Exports

0 cu m (2017 est.)

Natural Gas Imports

0 cu m (2017 est.)

Natural Gas Production

0 cu m (2017 est.)

Natural Gas Proved Reserves

141.6 billion cu m (1 January 2014 est.)

Refined Petroleum Products Consumption

49,000 bbl/day (2016 est.)

Refined Petroleum Products Exports

500 bbl/day (2015 est.)

Refined Petroleum Products Imports

49,240 bbl/day (2015 est.)

Refined Petroleum Products Production

0 bbl/day (2015 est.)

Broadband Fixed Subscriptions

subscriptions per 100 inhabitants

24 (2017 est.)

total

295,686 (2017 est.)

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 7 privately owned TV and 21 radio broadcast stations plus 6 radio and 4 TV channels of local universities, plus 1 radio station of military, security forces and 1 radio station of civil defense cooperation, as well as relay stations from Turkey (2017)

Internet Country Code

.cy

Internet Users

percent of population

75.9% (July 2016 est.)

total

915,036 (July 2016 est.)

Telephone System

domestic

open-wire, fiber-optic cable, and microwave radio relay; fixed-line teledisity is 26 per 100, 96 per 100 for mobile-cellular (2017)

general assessment

despite the growth of Cyprus's telecom sector, the market overall continues to be dominated by the incumbent, Cyta, which is still fully-owned by the state; improved regulatory circumstances, especially in relation to network interconnection and access, has given competing operators the certainty to invest in network infrastructure, to launch competing services (2017)

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); Quantum Cable contracts for new submarine cable linking to Greece and Israel; Telecom Italy Sparkle and Cyta complete the Kimonas cable subsystem linking Cyprus with Crete; Cyta upgrades transmission capacity on the TE-North Cable System to 500Gb/s (2017)

Telephones Fixed Lines

subscriptions per 100 inhabitants

26 (2017 est.)

total subscriptions

317,241 (2017 est.)

Telephones Mobile Cellular

subscriptions per 100 inhabitants

96 (2017 est.)

total subscriptions

1,176,801 (2017 est.)

Airports

15 (2013)

Airports With Paved Runways

1,524 to 2,437 m

2 (2017)

2,438 to 3,047 m

7 (2017)

914 to 1,523 m

3 (2017)

total

13 (2017)

under 914 m

1 (2017)

Airports With Unpaved Runways

total

2 (2013)

under 914 m

2 (2013)

Civil Aircraft Registration Country Code Prefix

5B (2016)

Heliports

9 (2013)

Merchant Marine

by type

bulk carrier 307, container ship 183, general cargo 164, oil tanker 57, other 311 (2017)

total

1,022 (2017)

National Air Transport System

annual freight traffic on registered air carriers

230,600 mt-km (2015)

annual passenger traffic on registered air carriers

23,404 (2015)

inventory of registered aircraft operated by air carriers

6 (2015)

number of registered air carriers

2 (2015)

Pipelines

0 km oil

Ports And Terminals

major seaport(s)

area under government control: Larnaca, Limassol, Vasilikos

note

area administered by Turkish Cypriots: Famagusta, Kyrenia

Roadways

government control

13,006 km (includes 2,277 km of expressways) (2011)

paved

8,564 km (2011)

total

20,006 km (2011)

Turkish Cypriot control

7,000 km (2011)

unpaved

4,442 km (2011)

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 Expenditures

1.78% of GDP (2016)

1.68% of GDP (2015)

1.54% of GDP (2014)

1.6% of GDP (2013)

1.66% of GDP (2012)

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)

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 southon 1 May 2004, Cyprus entered the EU still divided, with the EU's body of legislation and standards (acquis communitaire) suspended in the northTurkey protests Cypriot Government creating hydrocarbon blocks and maritime boundary with Lebanon in March 2007

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

Refugees And Internally Displaced Persons

IDPs

217,000 (both Turkish and Greek Cypriots; many displaced since 1974) (2017)

refugees (country of origin)

5,274 (Syria) (2017)