Turkish Cypriot Community

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Tác giả:

Ngôn ngữ: eng

Ký hiệu phân loại: 956.45 Middle East (Near East)

Thông tin xuất bản: Washington, DC: World Bank, 2025

Mô tả vật lý:

Bộ sưu tập: Tài liệu truy cập mở

ID: 310213

 The recovery of the Turkish Cypriot (TC) economy in 2023 was stronger than expected, and GDP is estimated to have rebounded to its pre-pandemic level. Following a deep recession in 2020-the deepest in Europe and the history of the TC economy, and after a modest recovery in 2021, the TC economy rebounded more vigorously in 2022, with GDP growth reaching 13.3 percent, and it is estimated to have grown at above 5 percent in 2023. Real GDP is estimated to have finally recovered to, and slightly surpassed, the pre-pandemic level. In 2023, Green Line (GL) crossings reached new record highs, as well as GL trade. The increase in GL trade reflects both structural progress and short-term opportunities, but despite this significant progress, it remains well below potential both in terms of volume and composition, with the top five products accounting for 88 percent of total GL trade. The agriculture sector 2023 is estimated to have contributed positively to growth, benefiting from the Turkish lira (TL) depreciation, reduced input prices, and favorable weather. Robust's imports reflect resilient domestic demand despite high inflation that is reducing purchasing power. The IOT analysis concludes three main findings, unveiling vulnerabilities and opportunities for the private sector. These findings are: (i) a strong reliance on services and a small domestic industrial production
  (ii) a high dependence on imported vs domestically produced inputs for the TC economy, relative to its size
  and (iii) a high dependence on imported inputs in the agriculture and industry sectors, although less so in the services sector.
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