About North Cyprus

Overview

About North Cyprus

Turkey is located 65 km to the north, Syria is 1 12 km, Israel is 267 km, Lebanon is 162 km east; land border with Southern Cyprus and Egypt is 41 8 km to the south.

Official Language is Turkish and English is widely used across all sectors.

20% of the 45% fertile land that can be planted is irrigated. 20% of TRNC’s general is forested and intensive afforestation program continues.

De-jure population is 286,000 and Nicosia is the capital city divided into half by the Green Line that forms the border between TRNC and south Cyprus.

Economy

Figures

TRNC, which adopted a free market economy, uses the Turkish lira as the official currency.

The highest share in the gross national income is the services sector. Agriculture and manufacturing sectors also supporting the service sector.

Tourism and Higher Education sectors are vital for the economy.

North Cyprus provides a f avourable and equal opportunities business environment to local and foreign investors with the advantage of its strategic location.

GDP is $4.09Billion and GDP per capita $13,427. Average GDP growth rate has been around 3% and is expected to be 3.5% in the coming terms. Unemployment rate is around 7.5% and inflation rate is around 13%.

Mega Projects

Water Pipeline Project

Cyprus is short of surface water and groundwater due to inadequate rainfall. The project aims to supply Northern Cyprus with water from Turkey for a timespan of 50 years. Of the 75 million m³ water, 37.76 million m³ (50.3%) will be used for drinking purposes and the remaining part (49.7%) will be allocated for irrigation.

The total investment cost of the project is budgeted at 782 million TL (approx. US$432 million).

Main Cities

Northern Cyprus is divided into six districts: Nicosia, Famagusta, Kyrenia, Morphou, Iskele and Lefke.

Sources:
https://pio.mfa.gov.ct.tr/en/economy/

https://www.ktimb.org/en/life-in-north-cyprus/

https://mfa.gov.ct.tr/cyprus-negotiation-process/historical-background/