Northern Cyprus
Economy
Despite the constraints imposed by the lack of international recognition, the nominal GDP growth rates of the economy in 2001–2005 were 5.4%, 6.9%, 11.4%, 15.4% and 10.6%, respectively. The real GDP growth rate in 2007 was estimated at 2%. This growth has been buoyed by the relative stability of the Turkish Lira and a boom in the education and construction sectors. Between 2002 and 2007, Gross National Product per capita more than tripled, from US$4,409 in 2002 to US$16,158 (in current U.S. dollars). The growth continued through the 2010s, with real growth rates of 3.7%, 3.9%, 1.8% and 1.1% respectively in 2010–2013. The unemployment rate declined through the 2010s and was at 8.3% in 2014.
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