Cyprus Identity Card
- Area: 9 251 km² Population: 864 inhabitants (000 estimate), re Capital city : Nicosia (Lefkosia).
- Density Ré Change : the euro.
- Languages: the official languages of the whole island Ré Head of É Religions: Greek Orthodox in the south (90% of the population), Muslims in the north (10%). D & rsquo Main activity Chô UNESCO World Heritage Sites: Paphos (1980); the painted churches of the Troodos region (1985); Choirokoitia (1998).
Cyprus entered the European Union in 2004.
Cyprus's trade balance remains in deficit, its public debt and budget deficit have been too high.
The primary sector remains weak due to climatic conditions: drought limits the development of agriculture. Light industry is doing well with exports of textile products.
It is mainly the tertiary sector which boosts the economy, although tourism still requires a lot of investment to become fully competitive. In recent years, the financial sector has been booming, with offshore services.
The Greek part of Cyprus is better off, thanks to the services (the tourism especially), and especially at the commercial fleet.
The situation was greatly complicated when the country was hit by the Greek crisis. Between 2008 and 2013, unemployment exploded. In June 2012, Cyprus had to apply for financial assistance from the European Union. The IMF and the European Stability Mechanism released 11 billion euros, the banking sector was restructured, and the government signed an agreement providing for the freeze on civil servants' salaries, pensions, privatizations and a tax increase on corporations.
But despite this help, unemployment continued to rise until 2014, before falling again; in 2019, it turns around 7%.
Growth has become positive again; it was around 4% in 2017.
Le strong gas potential is an asset for the economy of the country.