Cyprus Leads Fiscal Flexibility Index

 Cyprus’s major imports are raw materials, consumer and capital goods, transport equipment and fuel, while major exports are pharmaceutical products, cement, cigarettes, paper products, plastic products, potatoes, citrus fruit, wines, and furniture.

The tertiary sector of services is considered as the backbone of the Cyprus economy, accounting for more than 80% of GDP in 2011. This reflects the gradual evolution of the economy from an exporter of minerals (mainly copper and asbestos) and agricultural products during 1960-73, an exporter of manufacturing products (mainly clothing) at the end of the 1970s, to an international business and service centre in the 1980s - today.

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