CYPRUS

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CYPRUSthe european times

Cyprus’s Fact File

Location: North-East corner Mediterranean Sea

Climate: temperate; Mediterranean with hot, dry summers and cool winters

Average daily temperature: 24 degrees C

Capital: Nicosia

Population: 796,740 (2009 estimate)

Offi cial Languages: Greek, Turkish, English

Religions: Greek orthodox, Muslim

Area: 9,250 sq m

Currency: Euro

Coastline: 648 km

Terrain: central plain with mountains to north and south; scattered but signifi cant plains along southern coast

Government type: Presidential Democratic state

Economy at a glance

Infl ation rate: 3.3% (2011 est.)

Exports commodities: pharmaceutical products, cement, cigarettes,

paper products, plastic products, potatoes, citrus fruit, wines, and furniture

Exports partners: UK 15.1%, Greece 14.2%, France 7.7%,

Germany 4.9%, UAE 4.2%

Imports commodities: raw materials, consumer and capital goods,

transport equipment and fuel

Importspartners: Greece 17.6%, Italy 11.4%, Germany 9%, UK

8.9%, Israel 6.3%, France 4.3%, Netherlands 4.3%, China 4.2%

Transportation: 13 airports, 10 heliports, road network: 7,979km

GDP per capita: € 21,544

Global Competitiveness: Cyprus was ranked number 47 out of 142

countries by the World Economic Forum “Global Competitiveness Report 2011 – 2012”

Business environment

Economic Cyprus’s economic freedom score is 73.3,Freedom: making its economy the 18th freest in the

Heritage Foundation 2011 Index

Human Cyprus is ranked 31st in the world out ofDevelopment 187 countries according to the 2011 HumanIndex: Development Report, with a Human Develop-

ment Index (HDI) value of 0.840. The Human Development Index (HDI) focuses on three measurable dimensions of human develop-ment: living a long and healthy life, being educated and having a decent standard of living

Operating costs: Cyprus offers one of the lowest set up and operating costs within the EU

Indicator 2007 2008 2009 2010

Real GDP Growth (annual % change) 5.1 3.6 -1.7 1.0

Infl ation Rate (%) 2.4 4.4 0.2 2.6Unemployment

Rate (%) 3.0 3.7 5.3 6.2 Source: Cyprus Ministry of Finance, Central Bank of Cyprus

Cyprus Economic Indicators: