Careers, Jobs and Education Resources for: Cyprus

Economic Overview

The area of the republic of cyprus under government control has a market economy dominated by the service sector, which accounts for 78% of gdp. tourism, financial services, and real estate are the most important sectors. erratic growth rates over the past decade reflect the economy's reliance on tourism, which often fluctuates with political instability in the region and economic conditions in western europe. nevertheless, the economy in the area under government control grew by an average of 3.6% per year during the period of 2000-06, well above the eu average. cyprus joined the european exchange rate mechanism (erm2) in may 2005 and adopted the euro as its national currency on 1 january 2008. an aggressive austerity program in the preceeding years, aimed at paving the way for the euro, helped turn a soaring fiscal deficit (6.3% in 2003) into a surplus of 1.5% in 2007. as in the area administered by turkish cypriots, water shortages are a perennial problem; a few desalination plants are now on line. after 10 years of drought, the country received substantial rainfall from 2001-04 alleviating immediate concerns. rainfall in 2005 and 2006, however, was well below average, making water rationing a necessity in 2007.

Environmental Issues

Water resource problems (no natural reservoir catchments, seasonal disparity in rainfall, sea water intrusion to island's largest aquifer, increased salination in the north); water pollution from sewage and industrial wastes; coastal degradation; loss of wildlife habitats from urbanization

Government Type

Republic note: a separation of the two ethnic communities inhabiting the island began following the outbreak of communal strife in 1963; this separation was further solidified after the turkish intervention in july 1974 that followed a greek junta-supported coup attempt gave the turkish cypriots de facto control in the north; greek cypriots control the only internationally recognized government; on 15 november 1983 turkish cypriot "president" rauf denktash declared independence and the formation of a "turkish republic of northern cyprus" (trnc), which is recognized only by turkey

Population

792,604 (july 2008 est.)

Location

Middle east, island in the mediterranean sea, south of turkey

Area

Total: 9,250 sq km (of which 3,355 sq km are in north cyprus) land: 9,240 sq km water: 10 sq km

About 0.6 times the size of connecticut

Country Aliases

Conventional long form: republic of cyprus conventional short form: cyprus local long form: kypriaki dimokratia/kibris cumhuriyeti local short form: kypros/kibris note: the turkish cypriot community, which administers the northern part of the island, refers to itself as the "turkish republic of northern cyprus" (trnc)

Capital

Name: nicosia (lefkosia) geographic coordinates: 35 10 n, 33 22 e time difference: utc+2 (7 hours ahead of washington, dc during standard time) daylight saving time: +1hr, begins last sunday in march; ends last sunday in october

Military Service

Greek cypriot national guard (gcng): 18-50 years of age for compulsory military service for all greek cypriot males; 17 years of age for voluntary service; females are not conscripted; age of military eligibility 17 to 50; length of normal service is 25 months with a minimum of 3 months (2006)

International Disputes

Hostilities in 1974 divided the island into two de facto autonomous entities, the internationally recognized cypriot government and a turkish-cypriot community (north cyprus); the 1,000-strong un peacekeeping force in cyprus (unficyp) has served in cyprus since 1964 and maintains the buffer zone between north and south; on 1 may 2004, cyprus entered the european union still divided, with the eu's body of legislation and standards (acquis communitaire) suspended in the north; turkey protests cypriot government creating hydrocarbon blocks and maritime boundary with lebanon in march 2007