Middle East Oil & Gas: Iranian Win?

MIDDLE EAST 2014 SUPPLEMENT By Ronald Fink Some analysts think the Ukrainian crisis could help improve prospects for Middle Eastern oil producers—pushing up prices and driving development of recent finds as a result. The crisis in Ukraine sent global energy ...

 
 
Source
Central bank

Central Bank of Cyprus
Cyprus is part of the Eurosystem and the European Central Bank

International Reserves

US$ 0.988 billion (Source: IMF; Data updated: 2014)

Gross Domestic Product - GDP

US$ 22 billion (2014 estimate)

GDP (Purchasing Power Parity)

22 billion of International dollars (2014 estimate)

Real GDP growth
2003 2004 2005 2006 2007 2008 2009 2010
1.9% 4.2% 3.9% 4.1% 5.1% 3.6% -1.9% 1.3%
2011 2012 2013 2014*        
0.4% -2.4% -6.0% -4.8%        

*Estimate

GDP per capita - current prices

US$ 24,181 (2014 estimate)

GDP per capita - PPP

$24,171 International Dollars (2014 estimate)

GDP (PPP) - share of world total
1980 1990 2000 2010 2014*
0.02% 0.03% 0.03% 0.03% 0.02%

*Forecast

 
 
Source
GDP - composition by sector
  • agriculture: 2.4%
  • industry: 15.9%
  • services: 81.7% (2013 estimate)
Gross domestic expenditure on R&D; (% of GDP)

N/A

 

Inflation
2011 2012 2013 2014*
3.5% 3.1% 0.4% 0.4%

*Estimate

Unemployment rate
2011 2012 2013 2014*
7.9% 11.9%

16.0%

19.2%

*Estimate

Household saving rates

N/A

Public debt (General government gross debt as a % of GDP)
2010 2011 2012 2013 2014*
61.3% 71.1% 85.5% 112.0% 121.5%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2010 2011 2012 2013 2014*
-5.3% -6.3% -6.4% -4.7% -5.2%

*Estimate

Government bond ratings

Standard & Poor's: B

Moody's rating: Caa3

Moody's outlook: POS

(Foreign Currency Government Bond Ratings; Data last updated Sept 2014)

Market value of publicly traded shares
2010 2011 2012*
NA US$2.853 billion

US$1.996 billion

*Estimate 

Largest companies in Cyprus

N/A

 
 
Source
Current account balance

US$ 23 million (2014 estimate)

Current account balance by percentage of GDP

0.105% of GDP (2014 estimate)

Exports as percent of GDP(Exports of goods and services)

N/A

 

Shares in world total merchandising export

0.01% (2012)

Shares in world total commercial services export

0.18% (2012)

 

Total exports

US$ 2.420 billion (2013 estimate) 

Export commodities

citrus, potatoes, pharmaceuticals, cement, clothing

Total imports

US$ 4.747 billion (2013 estimate) 

 
 
Source
Import commodities

consumer goods, petroleum and lubricants, machinery, transport equipment

Exports - major partners

Greece 23%, UK 10.1% (2012)

Imports - major partners

Greece 21.6%, Israel 11.9%, Italy 8.3%, UK 7.3%, Germany 7.1%, Netherlands 6.7%, France 6%, China 4.5% (2012)

FDI inflows
2011 2012 2013
US$ 2,384 million US$ 1,257 million US$ 533 million
FDI outflows
2011 2012 2013  
US$ 2,201 million US$ -281 million US$ 308 million  
Value of cross-border M&A;, by country of purchaser
2010 2011 2012 2013
US$ -562 million US$ 3,738 million US$ 8,060 million US$ 652 million
Cross-border M&A; deals worth over $3 billion completed in 2012 (Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A; click here )

Cross-border M&A; deals worth over $3 billion completed in 2013 (Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A; click here )

Best countries for doing business World Bank/IFC Doing Business Project

Economies are ranked on their ease of doing business, from 1 - 189. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 39 out of 189 countries (2013)

Subcategories:

Starting a business: 44 out of 189 countries

Enforcing Contracts: 110 out of 189 countries

Registering Property: 103 out of 189 countries

Getting credit: 55 out of 189 countries

Protecting investors: 34 out of 189 countries

Trading across border: 27 out of 189 countries

Paying Taxes: 33 out of 189 countries

Dealing with Construction Permits: 86 out of 189 countries

Getting Electricity: 108 out of 189 countries

Resolving Insolvency: 24 out of 189 countries

(2013)

Global competitiveness ranking(ranking by country on a basis of 144, the first is the best)

58

(2014-2015)

 

 

Index of Economic FreedomWSJ and Heritage Foundation

Ranking: 46 Score: 67.6 (Moderately Free) (2014)

(100=totally free 0=totally repressed )

 
 
Source
Time zone

UTC+2

Total area

9,251 sq km (2014)

Capital

Nicosia (Lefkosia) (2014)

Currency

euros (EUR) (2014)

Government type

republic (2014)

Languages

Greek (official) 80.9%, Turkish (official) 0.2%, English 4.1%, Romanian 2.9%, Russian 2.5%, Bulgarian 2.2%, Arabic 1.2%, Filippino 1.1%, other 4.3%, unspecified 0.6% (2011 est.)

Religions

Greek Orthodox 78%, Muslim 18%, other (includes Maronite and Armenian Apostolic) 4%

Total population
1990 2000 2010 2014* 2019**
0.585 million 0.698 million 0.840 million 0.891 million 0.934 million

*Estimate   **Forecast

 
 
Source
Urban population as % of total population
1960 1980 2000 2013
35.6% 59% 69% 67%
Population median age

35.7 years (2014 est.)

Population growth rate

1.48% (2014 estimate)

Life expectancy

78.34 years (2014 estimate)

Adult literacy

98.7% (2011 estimate)

% of population living on less than $2 a day

N/A

Inequality of wealth distribution (Gini index)

N/A

 

Freedom House rating

Political Rights: 1
Civil Liberties: 1 (2014)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

Fixed 30.6%  Mobile 95.18%
(2013)

(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

65.45% (2013)

Cost of living - Mercer index(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Limassol 113th (2014)

CO2 emissions(Metric tons of CO2 per capita)

7.0 (2010)

World's Best Developed & Emerging Markets Banks

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World's Best Subcustodian Banks

World’s Best Foreign Exchange Providers

World's Best Banks By Region

World's Best Banks

2013

World’s Best Trade Finance Banks

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