Turkey is among the world's developed countries according to the CIA World Factbook. The growth was further buoyed by the arrival of North European Home Buyers, investing in holiday villas. The continuing Cyprus problem adversely affects the economic development of the TRNC. Middle Eastern countries are the destination of 30.3% of Turkish Cypriot exports and their share in the exports of Northern Cyprus has greatly increased, being at only 17.8% at 2006. Some international hotels, some foreign stores are trading with dollar, euro and pound.

[5] This is a continuation of ongoing policy under which Turkish government allocates around $400 million annually from its budget to help raise the living standards of the Turkish Cypriots.

[15] In 2013, Turkey transferred 430 million Turkish liras to the Turkish Cypriot budget, comprising 5.7% of the GNP, and one-seventh of the state budget.

[5] Northern Cyprus's economy operates on a free-market basis, with a significant portion of administration costs funded by Turkey.

Email The economy of Algeria expanded by 4% in 2014, up from 2.8% in 2013. The government has undertaken a program designed to revitalize the faltering sugar sector. The economy of Northern Cyprus (the Turkish Republic of Northern Cyprus—TRNC) is dominated by the services sector (69% of GDP in 2007), which includes the public sector, trade, tourism and education. The Turkish economic boom of the 2000s refers to a period of stabilization and growth following the 2001 Turkish economic crisis. The Republic of Cyprus, as the internationally recognised authority, has declared airports and ports in the area not under its effective control, closed. The economy of Cyprus is a high-income economy as classified by the World Bank, and was included by the International Monetary Fund in its list of advanced economies in 2001. The country's import and export is carried out through Turkey. [15] In 2013, Turkey transferred 430 million Turkish liras to the Turkish Cypriot budget, comprising 5.7% of the GNP, and one-seventh of the state budget.

Between 2002 and 2007, Turkey's economy experienced an average growth rate of 7.2%, much higher than the average growth rate during the nineties. Industry (light manufacturing) contributes 22% of GDP and agriculture 9%. Northern Cyprus uses the Turkish lira as its currency, which links its economic situation to the economy of Turkey. These settlers generated over $1 Billion between 2003 and 2007. [5] This is a continuation of ongoing policy under which Turkish government allocates around $400 million annually from its budget to help raise the living standards of the Turkish Cypriots. Despite the constraints imposed by the lack of international recognition, the TRNC economy turned in an impressive performance. Over 10,000 British people, including expatriates purchased holiday villas there to live in permanently, or to visit during the summer months.
The growth was further buoyed by the arrival of North European Home Buyers, investing in holiday villas.

The main trading partner is Turkey, as of 2014, 64.7% of Turkish Cypriot imports are from and 58.5% of Turkish Cypriot exports are to Turkey. Northern Cyprus Economy. 555-562. Tourism is a major driver of the Turkish Cypriot economy. [9] The inflation rate in June 2015 was at 3.18%.[10][9][11]. Cyprus has been a member of the EU since May 2004 and adopted the euro as its national currency in January 2008. Financial aid from the World Bank, the African Development Bank, and other sources is directed largely at the improvement of agriculture, especially livestock production. The economy combines a small subsistence sector and a modern urban sector. The continuing Cyprus problem adversely affects the economic development of the TRNC.

Agriculture accounts for about 6% of Martinique's GDP and the small industrial sector for 11%. It is included in the group of Next Eleven countries that will dominate the global economy in the middle of the 21st century. Banana exports are increasing, going mostly to France. It is the 4th largest GDP in Asia and the 12th largest in the world. Over 10,000 British people, including expatriates purchased holiday villas there to live in permanently, or to visit during the summer months. Defence and Peace Economics, 22 (5).

This amounted to 1.5 times the GDP. The economy of Northern Cyprus (the Turkish Republic of Northern Cyprus—TRNC) is dominated by the services sector (69% of GDP in 2007), which includes the public sector, trade, tourism and education. [6][7] Northern Cyprus has seen economic growth and declining unemployment throughout the 2010s; the unemployment rate in 2015 was at 7.4%,[8] down from 8.3% in 2014. Erratic growth rates in the 1990s reflected the economy's vulnerability to swings in tourist arrivals, caused by political instability on the island and fluctuations in economic conditions in Western Europe. Çeyrek Raporu", "Political deal may boost Cypriot economy", "2008=100 TEMEL YILI TÜKETİCİ FİYATLARI ENDEKSİNİN 2015 HAZİRAN AYI SONUÇLARI", "Universities: Little accord on the island - Higher, Education - The Independent", "Türkiye'den KKTC'ye 2015'in ilk üç ayında ne kadar yardım gitti? The share of exports to the European Union has greatly decreased from 15.0% in 2006 to 6.2% in 2014, while imports from the European Union were 15.5% of all imports. South Korea still remains one of the fastest growing developed countries in the world following the Great Recession. ISSN 1024-2694 (Print), 1476-8267 (Online) (doi:10.1080/10242694.2013.763628), Feridun, Mete, Sawhney, Bansi and Shahbaz, Muhammad (2011) The impact of military spending on economic growth: the case of North Cyprus.

[12] All TRNC exports and imports have to take place via Turkey, unless they are produced locally, from materials sourced in the area (or imported via one of the island's recognised ports) when they may be exported via one of the legal ports. Its overall score has increased by 2.0 points due primarily to improvements in government integrity. Recognised only by Turkey, Northern Cyprus is considered by the international community to be part of the Republic of Cyprus. The economy of Saint Kitts and Nevis has traditionally depended on the growing and processing of sugar cane; decreasing world prices have hurt the industry in recent years. "KKTC Merkez Bankası 2014 IV. GDP is derived mainly from payments made by the United States under the terms of the amended Compact of Free Association. The number of tourists had doubled since 2006, which saw 570,000 tourists.
The revenue from tourism was at $616 million, up from $390 million in 2009 and $288 million in 2004. Below is a table showing the distribution of exports of Northern Cyprus by goods: Feridun, Mete (2014) Foreign aid fungibility and military spending: the case of North Cyprus. Economy of Northern Cyprus. Growth was driven mainly by the recovering oil and gas sector and further economic expansion of 3.9% is forecast in 2015 and 4.0% in 2016. The economy of Sierra Leone is that of a least developed country with a gross domestic product (GDP) of approximately US$1.9 billion in 2009. The Comoros, with an estimated gross domestic product (GDP) per capita income of about $700, is among the world's poorest and least developed nations. The economy grew by 4.9% in 2014 and 2.8% in 2013, meaning that Northern Cyprus is growing faster than the Republic of Cyprus. Currently the number of foreign students are around  fourty thousand from more than seventy countries. 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. "KKTC Merkez Bankası 2014 IV.

Northern Cyprus economy. This amounted to 1.5 times the GDP.[17].