page_title: Northern Cyprus
section_title: Economy
hierarchical_section_title: Northern Cyprus / Economy
caption_attribution_description: English: View of the old harbour from the castle in Kyrenia, Cyprus Polski: Widok na&#160;stary port z&#160;zamku w&#160;Kirenii na&#160;Cyprze. Русский: Вид на старый порт с бастиона крепости в Киринии, Кипр Čeština: Pohled na starý přístav z hradu Kyrenia castle, Kypr. Español: Vista del puerto viejo desde el castillo de Kyrenia, Chipre. Magyar: Kilátás a keríniai várból (Észak-Ciprus) Македонски: Поглед на старото пристаниште од калето во Киренија, Кипар. Nederlands: De oude haven van de Cypriotische stad Girne, gezien vanaf het kasteel Kyrenia Português: Panorama do antigo porto visto do castelo em Cirênia, Chipre.
context_page_description: Northern Cyprus, officially the Turkish Republic of Northern Cyprus, is a de facto state that comprises the northeastern portion of the island of Cyprus. Recognised only by Turkey, Northern Cyprus is considered by the international community to be part of the Republic of Cyprus.
  Northern Cyprus extends from the tip of the Karpass Peninsula in the northeast to Morphou Bay, Cape Kormakitis and its westernmost point, the Kokkina exclave in the west. Its southernmost point is the village of Louroujina. A buffer zone under the control of the United Nations stretches between Northern Cyprus and the rest of the island and divides Nicosia, the island's largest city and capital of both sides.
  A coup d'état in 1974, performed as part of an attempt to annex the island to Greece, prompted the Turkish invasion of Cyprus. This resulted in the eviction of much of the north's Greek Cypriot population, the flight of Turkish Cypriots from the south, and the partitioning of the island, leading to a unilateral declaration of independence by the north in 1983. Due to its lack of recognition, Northern Cyprus is heavily dependent on Turkey for economic, political and military support.
context_section_description: The economy of Northern Cyprus is dominated by the services sector (69% of GDP in 2007) which includes the public sector, trade, tourism and education. The revenues gained by the education sector in 2011 was $400 million. Industry (light manufacturing) contributes 22% of GDP and agriculture 9%. The economy of Northern Cyprus is based on a free market approach and it became the top country in Europe in entrepreneurial intent to start a new business in 2014.
  Economic development is adversely affected by the continuing Cyprus problem. Northern Cyprus is under an international embargo as the Republic of Cyprus, as the internationally recognised authority, has declared airports and ports in the area not under its effective control closed. All UN member states other than Turkey respect the closure of those ports and airports. As a result, Northern Cyprus is heavily dependent on Turkish economic support, and is still dependent on monetary transfers from the Turkish government.
  Northern Cyprus uses the Turkish Lira as its currency which links its economy to that of Turkey's. Since the Republic of Cyprus joined the Euro zone and the movement of peoples between the north and south has become more free, the Euro is also in wide circulation. Exports and imports have to go via Turkey; while European Union promised an opening up of the ports after the Annan plan, this was blocked by the Republic of Cyprus and exporting through the south, while technically possible, remains impractical.
  Despite the constraints imposed by the lack of international recognition, the nominal GDP growth rates of the economy in 2001–2005 were 5.4%, 6.9%, 11.4%, 15.4% and 10.6%, respectively. The real GDP growth rate in 2007 was estimated at 2%. This growth has been buoyed by the relative stability of the Turkish Lira and a boom in the education and construction sectors. Between 2002 and 2007, Gross National Product per capita more than tripled, from US$4,409 in 2002 to US$16,158 (in current U.S. dollars). The growth continued through the 2010s, with real growth rates of 3.7%, 3.9%, 1.8% and 1.1% respectively in 2010–2013. The unemployment rate declined through the 2010s and was at 8.3% in 2014.
  In 2011, North Cyprus sold electricity to the Republic of Cyprus following an explosion in the southern part of the island which affected a large power station. The Northern Cyprus Water Supply Project, completed in 2015, is aimed at delivering water for drinking and irrigation from southern Turkey via a pipeline under the Mediterranean Sea.
  International telephone calls are routed via a Turkish dialling code (+90 392) as Northern Cyprus has neither its own country code nor official ITU prefix. Similarly with the internet Northern Cyprus has no top level domain of its own and is under the Turkish second-level domain .nc.tr. Items of mail must be addressed 'via Mersin 10, TURKEY' as the Universal Postal Union does not recognise Northern Cyprus as a separate entity. Amateur radio operators sometimes use callsigns beginning with "1B", but these have no standing for awards or other operating credit.
caption: Kyrenia (Girne) is one of the main tourist resorts in Northern Cyprus. Tourism is one of the dominant sectors of the Northern Cyprus' economy.
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