Cyprus and the international economy

This is an evaluation of the external economic relations of the island of Cyprus involving trade, finance and tourism. Cyprus has an increasingly open economy, and a study of its external economic relations is, to a considerable extent, a profile of its modern development. Living standards are now higher then in mainland Greece, despite the partition of the island following the Turkish invasion of 1974. This is partly a consequence of the growth of tourism, though offshore companies have also made a significant contribution. Manufactured exports are now more significant than traditional agricultural produce, and Cyprus has a customs union agreement with the European Community. Yet this economic success brings its own worries, especially over environmental deterioration. The question of partition also remains unresolved.