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Cyprus

Welcome to the price transmission page for Cyprus. This page enables you to look into the country and its crops more specifically to gain an understanding of the level of risk and also, to view its historic warning periods per commodity. Select a time range or a specific date to view the data in more detail.

Cyprus

Historic Warnings per Commodity

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Background information

The economy of the Republic of Cyprus is market-orientated. The service sector, mostly including tourism, financial services, shipping and real estate, contributes to four-fifths of GDP but is at the same time vulnerable to external demand. The Great Financial Recession 2009 and the resulting low demand from the European mainland for instance put pressure on the nation’s tourism and construction sectors and led to a recession. Cyprus is a member of the EU and the Eurozone.

The agricultural sector employs only 3.8% of the total workforce and contributes to nearly 2% of total GDP. The main agricultural products are citrus, vegetables, barley, grapes, olives, vegetable. Considering the limited nutrition content of those fruits and vegetables, almost 90% of the domestic cereals consumption is imported.

According to the HDI (2014), the high income country demonstrates a high level of human development scoring 0.850. At the same time, the country accounts for a relatively high level of unemployment averaging roughly 15%.