Economy Service industries provide the basis of the Cypriot economy with the Tourist sector catering to over 2 million customers annually GDP (purchasing power parity ) Republic of Cyprus: $16.85 billion; north Cyprus: $4.54 billion (2005 est.) GDP - composition by sector: Republic of Cyprus: agriculture 3.8%; industry 20%; services 76.2% (2005 est.) North Cyprus: agriculture 10.6%; industry 20.5%; services 68.9% (2003 est.)

Unemployment rate

Republic of Cyprus: 3.8% (2005 est.); North Cyprus: 5.6% (2004 est.)

Inflation rate (consumer prices)

Republic of Cyprus: 2.5% (2005 est.); North Cyprus: 9.1% (2004 est.)

Budget

revenues: Republic of Cyprus - $6.698 billion (2005 est.)
expenditures: Republic of Cyprus - $7.122 billion (2005 est.)
revenues: north Cyprus - $231.3 million (2003 est.)
expenditures: north Cyprus - $432.8 million (2003 est.)

Agriculture  products

Citrus, vegetables, barley, grapes, olives, vegetables; poultry, pork, lamb; dairy, cheese

Industries

Tourism, food and beverage processing, cement and gypsum production, ship repair and refurbishment, textiles, light chemicals, metal products, wood, paper, stone, and clay product

GDP (purchasing power parity )

Republic of Cyprus: $16.85 billion; North Cyprus: $4.54 billion (2005 est.)