Introduction
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 communities continue. 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.
Geography
Area
total: 9,251 sq km
land: 9,241 sq km
water: 10 sq km
Climate
temperate; Mediterranean with hot, dry summers and cool winters
Natural resources
copper, pyrites, asbestos, gypsum, timber, salt, marble, clay earth pigment
People and Society
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.)
Population growth rate
1% (2023 est.)
Government
Government type
Republic of Cyprus - presidential republic; self-declared "Turkish Republic of Northern Cyprus" (TRNC) - parliamentary republic with enhanced presidency
Capital
name: Nicosia (Lefkosia/Lefkosa)
Executive branch
chief of state: President Nikos CHRISTODOULIDIS (since 28 February 2023); 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 Republic of Cyprus Government
head of government: President Nikos CHRISTODOULIDIS (since 28 February 2023)
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; note - 3 seats each are reserved for the Latin, Maronite, and Armenian religious groups;
area administered by Turkish Cypriots: unicameral "Assembly of the Republic" or Cumhuriyet Meclisi (50 seats; members directly elected in multi-seat constituencies by proportional representation vote using a hybrid d'Hondt method with voter preference for individual candidates
Economy
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
Real GDP (purchasing power parity)
$37.546 billion (2021 est.)
$35.209 billion (2020 est.)
$36.819 billion (2019 est.)
Real GDP per capita
$41,700 (2021 est.)
$39,500 (2020 est.)
$41,700 (2019 est.)
Agricultural products
milk, potatoes, pork, sheep milk, goat milk, barley, wheat, poultry, olives, tangerines/mandarins
Industries
tourism, food and beverage processing, cement and gypsum, ship repair and refurbishment, textiles, light chemicals, metal products, wood, paper, stone and clay products
Remittances
2.34% of GDP (2021 est.)
2.13% of GDP (2020 est.)
2.06% of GDP (2019 est.)
Exports
$24.551 billion (2021 est.)
$20.379 billion (2020 est.)
$19.835 billion (2019 est.)
Exports - partners
India 9%, Greece 9%, Libya 8%, United Kingdom 7% (2019)
Exports - commodities
ships, refined petroleum, packaged medicines, cheese, recreational boats (2021)
Imports
$23.748 billion (2021 est.)
$20.711 billion (2020 est.)
$19.575 billion (2019 est.)
Imports - partners
Greece 16%, Italy 10%, Turkey 8%, Russia 5%, Germany 5%, United Kingdom 5%, China 5% (2019)
Imports - commodities
refined petroleum, ships, cars, coal tar oil, packaged medicines (2019)
Exchange rates
euros (EUR) per US dollar -
Exchange rates:
0.845 (2021 est.)
0.876 (2020 est.)
0.893 (2019 est.)
0.847 (2018 est.)
0.885 (2017 est.)
Page last updated: Tuesday, December 19, 2023
