Northern Cyprus Power Storage: Revolutionizing Energy
For years, Northern Cyprus has danced this frustrating tango with unreliable energy grids. But here''s the twist: The region is now leading a power storage revolution that''s
Northern Cyprus 's economy operates on a free-market basis, with a significant portion of administration costs funded by Turkey. Northern Cyprus uses the Turkish lira as its currency, which links its economic situation to the economy of Turkey. As of 2014, the GDP per capita of Northern Cyprus was $15,109, and the GDP was $4.039 billion.
Citrus is the good that Northern Cyprus exports the most. Although the TRNC economy has developed in recent years, it is still dependent on monetary transfers from the Turkish government. Under a July 2006 agreement, Ankara is to provide Northern Cyprus with an economic aid in the amount of $1.3 billion over three years (2006–2008).
The tourism sector of Northern Cyprus has seen high levels of constant growth. 1.23 million tourists visited Northern Cyprus in 2013, 920,000 of these being from Turkey. 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.
In 2014, the exports of Northern Cyprus were at $130 million, with an increase of 11.9% from 2013, and the imports were at $1.51 billion, with an increase of 3.6% from 2013. 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.
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