TRNC economy grows slower than Turkey or EU

Data provided by the government’s statistics department show that the financial growth rate for 2018 was 1.3 per cent in fix prices and reached 18,324,165,339 TL. 

This is in comparison to Turkey whose economy grew by 2.6 per cent and the EU’s average which was 2 per cent.

Also, the same date shows that income per capita was $12,277 (£9,425) or 12,277 TL.

The greatest increase has been in the construction sector at 7.6 per cent, followed by the services sector and independent business at 5.3 per cent, the report adds.

LGC News