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Chyprus is the agrarian-industrial country. Among natural riches of island it is possible to name copper, plaster, wood, marble, natural dyes, however anything from this is not present in significant amounts. Stocks of fresh water on Chyprus are limited, but owing to construction of dams and water-desalinating installations the problem has been solved. Extraction of copper, chromic, iron ores is adjusted. The industry gives 10,8% of gross national product and provides with work of 13,3% of working resources. To its basic directions concern: manufacture of food stuffs, drinks, tobacco products, textiles, clothes, footwear, products from a leather, hardware, products of chemistry and products from plastic. In branch structure of the Cyprian economy the sector of services (75%), processing sector (20%) and raw sector (5%) prevails. Orientation of the Cyprian economy to sector of services is caused by presence of objective advantages: strategic geographical position of Chyprus on crossing of three continents — Europe, Asia and Africa; the favorable climate for business dealing which directly is connected by macroeconomic stability and a favorable tax mode (according to tax reto of 2003 the unito corporate tax is entered at a level of 10%); presence of the qualified labour; a satisfactory condition of an infrastructure and transport, power and telecommunications; favorable conditions of a life; close economic and political attitudes of Chyprus with neighbouring countries. Steady there are rates of growth of building branch (5% annually from 2002), reflecting the tendency of increase in investments into construction in state and a private sector. The building sector has absorbed 70% from a total sum of credits of commercial banks. The reason of building boom were orientation of investors on characteristic for Chyprus steady market of the real estate, and also lack of other tools attractive to investors and opportunities of capital investments. Characteristic feature of the Cyprian economy still is a dominating role of a private sector in production. The role of the state consists only in creation of conditions for effective manufacture and concentrates basically on maintenance of macroeconomic stability and creation of a favorable climate by maintenance legal and bases for enterprise activity; the organizations of protection of a diligent competition; creation of modern economy and a social infrastructure; maintenance of conditions of social unity. Today Chyprus is one of mainstreams of the international tourism, the regional center of services — basically in sphere of bank service and sea transportations — and modern telecommunication unit. The industry of tourism provides about 9,4% of gross national product and in it 10,6% of all working are taken. Successful economic development promoted transtoation of Chyprus into the international center of bank service and business. Now 30 foreign banks, two banks under foreign management and over thousand offshore companies registered operate on Chyprus. The island became the important center of sea navigation and in a world rating of sea powers takes nowadays the sixth place. Owing to the geographical position Chyprus has turned to the important transshipment center with great volume of the cargoes re-exported on developing markets of the East and Central Europe. The share of an agriculture in gross national product makes about 3,5%, thus this sector of economy has provided employment of 8,3% of a labour of the country. The basic agricultural crops are the potato, other vegetables, grain, citron, grapes and olives. On cattle-breeding farms plant mainly large horned livestock, sheeps, goats, pigs and poultry. The fish facilities has arisen from coastal and trawling, and also cultivations of sea fishes in natural conditions. Rates of growth of manufacture of agricultural production makes about 1,5% a year. Favorable weather conditions have allowed to increase considerably manufacture of grain and grapes (by 15% and 30%). Reduction of physical volumes of manufacture of potato has been compensated by owing to stably high prices for the Cyprian potato in the world market. Chyprus imports raw material, means of production, consumer goods, the transport equipment and fuel. A basis of export are the clothes, footwear, the pharmaceutical goods, cement make, cigarettes, furniture, products of the paper industry, wine, a potato and citrus. The basic trading partners are Great Britain, France, Germany, Turkey, Greece, Italy, Japan. |
