Country Overview | Key Property Facts

Currency:
Euro

Capital:
Nicosia

Major Cities (by population size): 
Paphos, Larnaca. Limassol, Kyrenia, Famagusta, Ammochostos

Geography:
The third largest island in the Mediterranean Sea (after Sicily and Sardinia), Cyprus is situated in the Eastern Mediterranean, just south of the Anatolian peninsula (or Asia Minor) of the Asian mainland; thus, it is often included in the Middle East (see also Western Asia and Near East). Turkey is 75 kilometres (47 mi) north; other neighbouring countries include Syria and Lebanon to the east, Israel to the southeast, Egypt to the south, and Greece to the west-north-west.

Historically, politically and culturally Cyprus is closely aligned with Europe – the Greek Cypriots with Greece and the Turkish Cypriots with Turkey. Historically, Cyprus has been at the crossroads between Europe, Western Asia, and Northern Africa, with lengthy periods of mainly Greek and intermittent Anatolian, Levantine, and British influences. Though these influences may cause some to consider Cyprus as a transcontinental island, such a term is properly applied only to nations whose boundaries straddle more than one continent e.g. Turkey, Russia and Egypt.

The central plain, the Mesaoria, is bordered by the Kyrenia and Pentadactylos mountains to the north and the Troödos mountain range to the south and west. There are also scattered, but significant, plains along the southern coast. The island's highest point is at the summit of Mount Olympus 1,952 metres (6,404 ft), in the heart of the Troödos range.

The climate is temperate, with dry summers and variably rainy winters. Summer temperatures range from warm at higher elevations in the Tröodos mountains to hot in the lowlands. Winter temperatures are mild at lower elevations, where snow rarely occurs, but are significantly colder in the mountains, where there is sufficient snow for a seasonal ski facility. Dust storms are frequent throughout the year.

Politics:
After independence, Cyprus became a founding member of the Non-Aligned Movement despite all three guarantor powers (Greece, Turkey and the UK) being NATO members. Cyprus left the Non-Aligned Movement in 2004 to join the European Union, though it retains special observer status.

In July 1974, after an attempted coup against the Makarios government by extreme right-wing factions aided by the Greek junta, Turkey invaded Cyprus. The coup had been quashed before the arrival of Turkish paratroopers. Turkey has ever since occupied the northern part by a military force estimated at 35 to 60 thousand troops^.

Cyprus has been divided, de facto, into the Greek-Cypriot controlled rump of the Republic, somewhat less than two-thirds of the island and the Turkish-occupied approximately one third in the north. Further, British sovereign bases under the term of the establishment of the Republic in 1960, occupy 99 square miles (256 square kilometers). The Republic of Cyprus is the legitimate internationally-recognised government of Cyprus. Turkey aside, all foreign governments and the United Nations recognise the sovereignty of the Republic of Cyprus over the whole island of Cyprus.

The Turkish Cypriot administration of the northern part of the island, together with Turkey, rejects the Republic's rule over the whole island and refers to it as the "Greek Authority of Southern Cyprus". The TRNC's territory, known internationally as the "occupied area", extends over the northern 36^[25] percent of the island.

The other power with territory on island of Cyprus is the United Kingdom. Under the independence agreement, the UK retained entitlement to lease two areas on the southern coast of the island, around Akrotiri and Dhekelia. Known collectively as the UK sovereign base areas, they are used as military bases.

Economy:
The Cypriot economy is prosperous and has diversified in recent years. Its per-capita GDP (adjusted for purchasing power) is slightly lower than that of France, Germany, Italy and the UK, but slightly higher than the European Union average.

Cyprus has been sought as a base for several offshore businesses, due to its highly developed infrastructure. Economic policy of the Cyprus government has focused on meeting the criteria for admission to the European Union. Adoption of the euro as a national currency is required of all new countries joining the European Union, and the Cypriot government adopted the currency on 1 January 2008.

Oil has recently been discovered in the seabed between Cyprus and Egypt, and talks are underway between Lebanon and Egypt to reach an agreement regarding the exploration of these resources. The seabed separating Lebanon and Cyprus is believed to hold significant quantities of crude oil and natural gas.

The economy of the Turkish-occupied area is dominated by the services sector, including the public sector, trade, tourism and education, with smaller agriculture and light manufacturing sectors. The economy operates on a free-market basis, although it continues to be handicapped by the political isolation of Turkish Cypriots, the lack of private and governmental investment, high freight costs, and shortages of skilled labor.

Despite these constraints, the economy turned in an impressive performance in 2003 and 2004, with growth rates of 9.6% and 11.4%. The average income in the area is $5,000 per capita, and the Turkish government has pledged to increase this to $12,000 through investment and aid. Growth has been buoyed by the relative stability of the Turkish Lira and by a boom in the education and construction sectors.

Inflation rate (consumer prices): 2.8% (2006 EST)
GDP (official exchange rate): $16.37 billion (2006 EST)
GDP (purchasing power parity): $18.04 billion (2006 EST)
GDP (real) growth rate: 3.8% (2006 EST)

Legal System:
Cyprus was a British colony until 1960, when the island became an independent republic.   Until independence, the legal system was based on the English legal system.    Many of those laws are still in force today. After independence in 1960, the English legal system was largely preserved.  The laws applicable are the following:

• The Constitution of the Republic of Cyprus.
• The laws retained in force by virtue of Article 188 of the Constitution.
• The principles of Common Law and Equity.
• The Laws enacted by the House of Representatives.

Following the accession of The Republic of Cyprus to the European Union in 2004, the Constitution was amended so that European law has supremacy over the Constitution and national legislation.

The Supreme Court is the final appellate court and has final authority in constitutional and administrative cases. It deals with appeals from assize and district courts, as well as from decisions by its own judges, acting singly in certain matters. There are six district courts and six assize courts. The Supreme Council of Judicature appoints judges to the district and assize courts.

People

Population
788,457 (2007)

Age structure
0-14 years: 19.9%
15-64 years: 68.3%  
65 years and over: 11.8%

Median age
Total: 35.1 years
Male: 34.1 years
Female: 36.2 years (2007 EST)

Population growth rate
-0.53% (2007 EST)

Birth rate
12.56 births/1,000 population (2007 EST)

Death rate
7.72 deaths/1,000 population (2007 EST)

Net migration rate
0.42 migrant(s)/1,000 population (2007 EST)

Sex ratio
At birth: 1.05 male(s)/female
Under 15 years: 1.04 male(s)/female
15-64 years: 1.02 male(s)/female
65 years and over: 0.77 male(s)/female
Total population: 0.99 male(s)/female (2007 EST)

Infant mortality rate
Total: 6.89 deaths/1,000 live births
Male: 8.54 deaths/1,000 live births
Female: 5.16 deaths/1,000 live births (2007 EST)

Life expectancy at birth
Total population: 77.9 years
Male: 75.6 years
Female: 80.5 years (2007 EST)

Total fertility rate
1.8 children born/woman (2007 EST)

HIV/AIDS
Adult prevalence rate: less than 0.1% (2001 EST)
People living with HIV/AIDS: Less than 1000 (2001 EST)

Nationality
Noun: Cypriot (s)
Adjective: Cypriot

Ethnic groups
Greek 77%
Turkish 18%
Other 5%

Religion
Greek Orthodox 78%
Muslim 18%
Other (includes Maronite and Armenian Apostolic) 4%

Languages
Greek, Turkish, English

Country Ratings:

• Economist Intelligence Unit Quality of Life Index: 7.097 Rank: 23^{rd (}2005).
• Heritage Foundation Index of Economic Freedom: Rank 20 = 73.1% free.

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