===

@2204 Economy of the area administered by Turkish Cypriots

Cyprus
Economy - overview: The Turkish Cypriot economy has roughly
30% of the per capita GDP of the south, and economic growth tends to
be volatile, given the north's relative isolation, bloated public
sector, reliance on the Turkish lira, and small market size.
Agriculture and services, together, employ more than half of the
work force. The Turkish Cypriot economy grew around 10.6% in 2006,
fueled by growth in the construction and education sectors, as well
as increased employment of Turkish Cypriots in the area under
government control. GDP declined about 2.0% in 2007. The Turkish
Cypriots are heavily dependent on transfers from the Turkish
Government. Ankara directly finances around one-third of the
"TRNC's" budget. Aid from Turkey has exceeded $400 million annually
in recent years.
GDP (purchasing power parity): $1.865 billion (2006 est.)
GDP - real growth rate: -2% (2007 est.)
GDP - per capita: $11,800 (2006 est.)
GDP - composition by sector: agriculture: 8.6%, industry: 22.5%,
services: 69.1% (2006 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
Economic aid - recipient: under a July 2006 agreement, Turkey plans
to provide the area administered by Turkish Cypriots 1.875