, IAEA, IBRD, ICAO, ICC,
ICFTU, IDA, IFAD, IFC, ILO, IMF, IMO, INMARSAT, INTELSAT, INTERPOL,
IOC, IOM, ISO, ITU, NAM, OAS (observer), UN, UNCTAD, UNESCO, UNIDO,
UPU, WCL, WFTU, WHO, WIPO, WMO, WTO
Diplomatic representation in US:
chief of mission:
Ambassador Andreas JACOVIDES
chancery:
2211 R Street NW, Washington, DC 20008
telephone:
(202) 462-5772
consulate(s) general:
New York
note:
Representative of the Turkish area in the US is Namik KORMAN, office
at 1667 K Street NW, Washington DC, telephone (202) 887-6198
US diplomatic representation:
chief of mission:
Ambassador Richard BOUCHER
embassy:
corner of Metochiou and Ploutarchou Streets, Nicosia
mailing address:
APO AE 09836
telephone:
[357] (2) 476100
FAX:
[357] (2) 465944
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 16% to GDP and employs 29% of the labor force,
while the service sector contributes 60% to GDP and employs 57% of the
labor force. An average 6.8% rise in real GDP between 1986 and 1990
was temporarily checked in 1991, because of the adverse effects of the
Gulf War on tourism. Economic growth surged again in 1992, bolstered
by strong foreign and domestic demand. As the economy gained momentum,
however, it began to overheat; inflation reached 6.5%. The economy has
likely recorded a sharp drop in growth in 1993, due to the recession
in Western Europe, Cyprus' main trading partner, but probably will
pick up again in 1994. The Turkish Cypriot economy has less than
one-third the per capita GDP in the south. Because it is recognized
only by Turkey, it has had much difficulty arranging foreign
financing, and foreign firms have hesitated to invest there. The
economy remains heavily dependent on agriculture, which employs more
than one-quarter of the workforce. Moreover, because the Turkish lira
is legal tender, the Turkish Cypriot economy has suffered the same
high inflation as mainland