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1973 domestic exports from the Republic of Cyprus increased in volume by 94%
and in real unit value by 57%. Between 1975 and 1987 the volume of exports
increased by almost 200%, while the real unit value increased by 52 % 34 . Clearly,
splitting the export trend into two time sériés, before and after 1974, has historical
validity as the data prior to 1974 refers to exports from the entire island, whilst data
after 1974 refers to exports from the southern 63% of the island stili under the
control of the Republic of Cyprus Government. The implications of the
developments above and the change in the composition of exports (Figure 2.9)
offers an indication of positive trends in the real economy that followed negative
politicai developments.
Figure 2.9 The composition of exports from Cyprus, 1956-1987.
100% -T=
I 1
70%
m Mieti
50%
5 Mamifacltired goods
53 Beveiages & Totacco
E3 Minerali
03 Food
(Data afler 1964 mchidci ihipitoiei.)
III
o\o\o\o\o\o\o\o>a\o\o\c\CT\»CT\o\a\a\a\o\o\o\a\ONOvo\(j\c\o\o\®\o\
Soiree: R«p. ofCypnn (monihly) 'Sta tini« of Importi Se Expcrtl" 195Ì-S0, "Statùtical Abitract 1987 & 1988 - . Nicoiia.
Figure 2.9 suggests that 1974 represents a watershed for the export sector of the
Republic of Cyprus, the transition from a typical under-developed economy,
exporting food and raw materials, to a more sophisticated economy with a more
diverse export structure.
34 ibid. p.532.
81