Review of Cyprus Economy Essay

Under National Agro-Food Policy, agriculture sector has been identified as a National Key Result Area. Under this initiative, the agriculture sector is targeted to increase the Gross National Income by RM28.9 Billion (USD9.1 billion) to reach RM49.1 billion (USD15.4 billion) by 2020. The agricultural sector is also targeted to create more than 109,000 job opportunities by 2020, primarily in the rural areas.

There has been a major decline in the travel and tourism sector in Cyprus. A 2.4% overall decrease in arrivals were recorded last month compared to the same month in 2009 and a decrease of 10.2% was recorded in arrivals from the UK for the year – suggesting that Cyprus is beginning to become a less popular holiday destination for the British; one of Cyprus' main markets.

The major exports from here are coffee, beef, sugar, and seafood. More than half of the labor force works in the service industry and among these Tourism has seen a recent boom in growth. The economy has felt the results of many historical events and has paid the price for some of

Internet Marketing (212) Irrigational Pump Services (35) Logistics Services (200) Mailing Store (2) Manufacturing (100), Manufacturing (120), Manufacturing - welding (161), Manufacturing - soap (175), Manufacturing (194), Manufacturing-factory (240) Mattress Store (7) Meat Packaging (12) Medical/Healthcare (30), Medical (over 1,000), Motorcycle Retail (8) Movie Theatre (80) Newspaper (174) Party Rental Store (22) Pet Store (10) Pet Grooming (2) Pharmacy (20) Recording Studio-multimedia (6)

Reduction in real exports (real imports, which are a subtracted in the GDP calculation declined as well), accounted for a significant portion of the economic decline, followed by a decrease in inventory investments, non residential fixed investments, residential investments and a cutback in state and local government spending. The GDP 's only supporter so far this year came in the form of increased real personal consumer expenditures, which grew from 2.1 percent from the previous estimate of 2.0 percent, mainly reflecting sharp increases in services and slight increases in other areas. The BEA states, "The downturn in the percent change in real GDP, primarily reflected a downturn in exports, a larger decrease in private inventory investment, and downturns in nonresidential fixed investment and in state and local government spending that were partly offset by an upturn in federal government spending" (2014). The table below, prepared by the BEA, shows precisely which components of GDP rose and tumbled in Q1 2014.

The service industry in Canada account for more than 70% of their GDP. Manufacturing in Canada accounts for 13%, 6% construction and mining & gas is 4%. Agriculture, forestry, fishing and hunting account for 2% of their GDP. Calgary is the top performing metro economy in Canada whose GDP per capita rose 3.1% from 2013-2014 and their employment rose 2.7%. The GDP for Canada shrank 0.1% the first three months of the year; their GDP was .06% in the first

Between 2001 and 2010, GDP for all industries in the Canadian economy increased from $1,041 billion to $1,234 billion. In each year of the period, GDP growth has been positive with the exception of 2009 in which we saw a decline for the Canadian economy. The compound annual growth rate of GDP between 2001 and 2010 measured 1.7%.

In monetary economy is an economy where goods and services are exchanged for money. It can avoid double coincidence of wants, for example, one person is willing to use a bag of rice to get a bag of tea; another person is willing to use a bag of tea to get two apples. These two parties can not trade easily for their goods because in a barter economy people have to find exact goods and services to trade with. People realized use money to purchase goods and services that will save more time to find exact goods and services they want, and convenient for people. The monetary economy also allows specializations, for example, many

These three sectors of the construction industry contributed $39.9 billion to the overall $73.8 billion. The second largest sector lies in residential construction contributing $23.4 billion.

Cyprus is an island country in the Eastern Mediterranean Sea, which is based on agricultural production and tourism. In the first half of 2003, under the influence of global economic crisis and the European Crisis, the crises of Cyprus struck and caused higher unemployment and lower economic increase. As a country in Eurozone, Cyprus attracted large amount of deposit funding from overseas with its increasing nation's credit

In this way, the Fed manages price inflation in the economy. So bonds affect the U.S. economy by determining interest rates. This affects the amount of liquidity. This determines how easy or difficult it is to buy things on credit, take out loans for cars, houses or education, and expand businesses. In other words, bonds affect everything in the economy. Treasury bonds impact the economy by providing extra spending money for the government and consumers. This is because Treasury bonds are essentially a loan to the government that is usually purchased by domestic consumers. However, for a variety of reasons, foreign governments have been purchasing a larger percentage of Treasury bonds, in effect providing the U.S. government with a loan. This allows the government to spend more, which stimulates the economy. Treasury bonds also help the consumer. When there is a great demand for bonds, it lowers the interest rate.

Hospitality industries grow more larger to the sector that have 89% of workforce. 43 % of selfcatering accomodation , holiday parks and hotels. Resturant have increased by 29%.

‘Construction accounts for 40% of the total flow of raw materials into the global economy every year – some 3 billion cubic tons. The industry accounts for approximately 9% of Global Gross Domestic Product and in England alone provides employment for around 1.5 million people '

Production and Productivity Trends Labor productivity. Up until the 1970s, the Philippines’ agricultural performance, in terms of both agricultural Gross Value Added (GVA) and agricultural exports, compared well with its neighbors and other Asian countries (Figure 3a). But by the 1980s and 1990s, the country had lagged behind most of the countries in the region (Figures 3b and 3c). This came as agricultural output growth had slowed down dramatically through the decades (Figure 4). Moreover, the sector’s growth had been rather erratic in the 1990s, especially with the periodic occurrence of the El Niño phenomenon that had appreciable impact on weather patterns and, consequently, agricultural performance. Table 1 shows the average annual growth in GVA of major agricultural commodities since 1960. What is clear from the table is that growth rates of all commodities, except for livestock and poultry, have been slowing down over time. Furthermore, growth rates have been below the population growth rate, implying that production has not been able to keep up with increasing population. Erratic and decelerating growth over the past two decades is a major concern, as agriculture continues to employ a large

Growth in the agricultural sector has been driven by increased production of major food crops such as maize, sorghum and cassava, but the sector’s performance remains below potential. In turn, the services and industrial sectors have shown strong growth. The nascent banking sector and expanding telecommunications sector are key drivers behind services growth, while construction, electricity generation, manufacturing and mining are salient sub-sectors in industrial activity. Looking ahead, the banking and telecommunication sectors will continue to support services growth, while increased electricity generation capacity will benefit the expansion of the manufacturing