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→Economy
The EU continues to be the second-largest trading partner of the area administered by Turkish Cypriots, with a 22% share of total imports and 27% share of total exports. Total imports increased to $1.3 billion in 2006, while total exports decreased slightly to $65 million. Imports from the U.S. reached $9.3 million in 2006, while exports to the U.S. were less than $70,000.
The EU continues to be the second-largest trading partner of the area administered by Turkish Cypriots, with a 22% share of total imports and 27% share of total exports. Total imports increased to $1.3 billion in 2006, while total exports decreased slightly to $65 million. Imports from the U.S. reached $9.3 million in 2006, while exports to the U.S. were less than $70,000.
Assistance from Turkey is crucial to the Turkish Cypriot economy. Under the latest economic protocol (signed in 2006), Turkey undertakes to provide Turkish Cypriots financial assistance totaling 1.875 billion New Turkish Lira (YTL--roughly $1.34 billion) over a three-year period (600 million YTL in 2007, 625 million YTL in 2008 and 650 million YTL in 2009). Turkey also provides millions of dollars annually in the form of low-interest loans to mostly Turkish entrepreneurs in support of export-oriented industrial production and tourism. Total Turkish assistance to Turkish Cypriots since 1974 is estimated to have exceeded $4 billion.
Assistance from Turkey is crucial to the Turkish Cypriot economy. Under the latest economic protocol (signed in 2006), Turkey undertakes to provide Turkish Cypriots financial assistance totaling 1.875 billion New Turkish Lira (YTL--roughly $1.34 billion) over a three-year period (600 million YTL in 2007, 625 million YTL in 2008 and 650 million YTL in 2009). Turkey also provides millions of dollars annually in the form of low-interest loans to mostly Turkish entrepreneurs in support of export-oriented industrial production and tourism. Total Turkish assistance to Turkish Cypriots since 1974 is estimated to have exceeded $4 billion.
====Crisis====
After the financial crisis in [[Greece]], Cyprus became a crisis too. The euro zone gave Cyprus a $13 billion bailout and the cypriots start to pull their money from the banks.<ref>http://www.foxnews.com/world/2013/03/18/cypriots-rush-to-pull-money-from-banks-as-eu-takes-aim-at-russian-deposits/</ref>
==History==
==History==