n the OIC
Diplomatic representation:
Ambassador Michael E. SHERIFIS; Chancery at 2211 R Street NW, Washington, DC
20008; telephone (202) 462-5772
US:
Ambassador Robert E. LAMB; Embassy at the corner of Therissos Street and
Dositheos Street, Nicosia (mailing address is APO AE 09836); telephone [357]
(2) 465151; FAX [357] (2) 459-571
Flag:
white with a copper-colored silhouette of the island (the name Cyprus is
derived from the Greek word for copper) above two green crossed olive
branches in the center of the flag; the branches symbolize the hope for
peace and reconciliation between the Greek and Turkish communities; note -
the Turkish cypriot flag has a horizontal red stripe at the top and bottom
with a red crescent and red star on a white field

:Cyprus Economy

Overview:
The Greek Cypriot economy is small, diversified, and prosperous. Industry
contributes 24% to GDP and employs 35% of the labor force, while the service
sector contributes 44% to GDP and employs 45% of the labor force. Rapid
growth in exports of agricultural and manufactured products and in tourism
have played important roles in the average 6.4% rise in GDP between 1985 and
1990. In mid-1991, the World Bank "graduated" Cyprus off its list of
developing countries. In contrast to the bright picture in the south, the
Turkish Cypriot economy has less than half the per capita GDP and suffered a
series of reverses in 1991. Crippled by the effects of the Gulf war, the
collapse of the fruit-to-electronics conglomerate, Polly Peck, Ltd., and a
drought, the Turkish area in late 1991 asked for a multibillion-dollar grant
from Turkey to help ease the burden of the economic crisis. Turkey normally
underwrites a substantial portion of the TRNC economy.
GDP:
purchasing power equivalent - Greek area: $5.5 billion, per capita $9,600;
real growth rate 6.0%; Turkish area: $600 million, per capita $4,000; real
growth rate 5.9% (1990)
Inflation rate (consumer prices):
Greek area: 4.5%; Turkish area: 69.4% (1990)
Unemployment rate:
Greek area: 1.8%; Turkish area: 1.2% (1990)
Budget:
revenues $1.2 billion; expenditures $2.0 billion, including capital
expenditures of $250 million (1991)
Exports:
$847 million (f.o.b., 1990)
commodities:
citrus, potatoes, grapes, wine, cement, clothing and shoes
partners:
UK 23%, Greece 10%, Leba