![]() Nicosia, the island's financial hub | |
Currency | Euro (EUR, €) |
---|---|
Calendar year | |
Trade organisations | EU, WTO |
Country group |
|
Statistics | |
Population | ![]() |
GDP | |
GDP rank | |
GDP growth | |
GDP per capita | |
GDP per capita rank | |
GDP by sector |
|
Population below poverty line | ![]() |
![]() | |
Labour force | |
Labour force by occupation |
|
Unemployment | |
Average gross salary | ![]() |
Average net salary | ![]() |
Median net salary | ![]() |
Main industries | tourism, food and beverage processing, cement and gypsum, ship repair and refurbishment, textiles, light chemicals, metal products, wood, paper, stone and clay products[5] |
Ease-of-doing-business rank | ![]() |
External | |
Exports | ![]() |
Export goods | citrus, potatoes, pharmaceuticals, cement, clothing[5] |
Main export partners | |
Imports | ![]() |
Import goods | consumer goods, petroleum and lubricants, machinery, transport equipment[5] |
Main import partners |
|
Current account | ![]() |
Gross external debt | ![]() |
Public finances | |
Public debt | €24.852 billion (![]() |
Budget balance | −€1.233 billion (![]() |
Revenues | ![]() |
Expenses | ![]() |
Credit rating | |
Foreign reserves | ![]() |
The economy of Cyprus is classified by the World Bank as a high-income economy, and was included by the International Monetary Fund in the list of developed economies in 2001. On January 1, 2008, the country entered the eurozone and adopted the euro as its official currency, replacing the Cypriot pound at a fixed exchange rate.
The Greek part of Cyprus is richer than the Turkish part and its economy is more stable, especially after Cyprus joined the European Union in 2004. The country's national product is 4.9 billion US dollars.