72571 World Trade Indicators 2009/10 Cyprus: Trade-at-a-Glance Table 2008 GDP 2008 GDP 2008 Share 2008 Trade Membership No. of FTAs/ EIAs (millions) per capita in World Trade per capita GATT WTO Goods Services .. .. 0.07% $31,968 1963 1995 27 5 TRADE PERFORMANCE‡ Cyprus HI non- Ranking Decile OECD High inc TRADE POLICY (TP) (out of 125) 25 2 EXTERNAL ENVIRONMENT (EE) (out of 125) 67 6 INSTITUTIONAL ENVIRONMENT (IE) (out of 183) 40 3 TRADE FACILITATION (TF) (out of 155) 46 3 TRADE OUTCOME (TO) (out of 157) .. .. Outer bound represents best value in latest year ‡ Rankings are based on the representative indicators (in bold) in each group below for the latest year TRADE POLICY (TP) 1995-99^ 2000-04^ 2005-08^ Latest Tariff Trade Restrictiveness Index TTRI (MFN applied tariff) .. 4.0 4.1 * TTRI (applied tariff including preferences) .. 6.0 6.0 * MFN applied tariff (spl avg) OTRI (Overall TRI, applied tariff incl. prefs.+NTMs) .. .. .. MFN applied tariff - simple avg (%) .. 10.7 5.3 5.5 TTRI (MFN) Dispersion (coefficient of variation) .. 7.9 1.8 2.0 Maximum rate (excl. alcohol and tobacco) .. .. 208.1 228.8 Agriculture - simple avg (%) .. 51.0 15.2 16.7 MFN applied tariff (wgt avg) Nonagriculture - simple avg (%) .. 5.2 3.9 3.8 MFN applied tariff - trade weighted avg (%) .. 10.4 3.2 3.2 Applied tariff (wgt avg) Applied tariff (incl. prefs.) - trade weighted avg (%) .. 10.4 2.0 2.1 Agriculture .. 56.8 9.6 10.1 Import duties Nonagriculture .. 4.2 1.6 1.6 Applied tariff (incl. prefs.) - production weighted avg (%) .. 8.1 1.7 * 0 10 20 30 MFN applied tariff escalation (finished % minus raw %) .. 1.0 1.0 * Cyprus HI non-OECD High inc Agriculture .. .. 14.9 16.5 Nonagriculture .. .. 1.0 0.9 Import duties (% of imports) 2.5 .. .. .. Tariff overhang (MFN bound minus MFN applied rate,%) .. 29.7 0.1 0.0 GATS commit. Bound tariff frequency ratio (% of total lines) .. 84.3 100.0 100.0 index Non-ad valorem tariff frequency ratio (%) .. 5.7 12.0 10.5 Non-tariff measures frequency ratio (%) .. .. .. .. 0 40 80 Anti-dumping initiations 0.0 5.8 21.8 19.0 Cyprus HI non-OECD High inc Overall GATS commitment index (0-100, best) .. 5.71 5.71 * EXTERNAL ENVIRONMENT (EE) 1995-99^ 2000-04^ 2005-08^ Latest Market Access-TTRI (MA-TTRI, applied tariff incl. prefs.) 4.0 3.2 * MA-TTRI MA-OTRI (applied tariff incl. prefs. and NTMs) 12.3 5.9 * ROW applied tariff (incl. prefs.) - trade weighted avg (%) 7.6 11.3 6.4 3.6 ROW applied(wgt avg) Agriculture 20.2 43.7 26.8 14.7 Nonagriculture 4.3 6.1 3.5 2.9 MFN zero duty exports (%) MFN zero-duty exports (% of total exports) 11.9 37.7 45.1 46.0 * Exports to FTA / CU partners (% of total exports) 0.0 8.5 35.4 60.6 Cyprus 0 HI non-OECD High inc 1 Anti-dumping initiations faced 0.0 0.2 1.5 1.0 All numbers normalized to a 0 to 1 scale Real effective exchange rate (% change,+ =apprec.) 0.1 1.7 0.9 3.6 All data are as of January 2010 and are drawn from the World Trade Indicators 2009/10 Database. The database, Trade-at-a-Glance Tables, Country Trade Briefs and User Guide, are available at http://www.worldbank.org/wti. ^ Indicators shown are period averages. "Latest" indicates 2008, when not available, 2006 or 2007 (noted by *). EAP: East Asia and Pacific, ECA: Europe and Central Asia, LAC: Latin America and the Caribbean, MNA: Middle East and North Africa, SAS: South Asia, SSA: Sub-Saharan Africa. GATT: General Agreement on Tariffs and Trade; WTO: World Trade Organization; FTA: free trade agreement; EIA: economic integration arrangement; NTM: nontariff measures; ROW: rest of the world; CU: customs union; ".." indicates missing value. World Trade Indicators 2009/10 Trade-at-a-Glance Tables INSTITUTIONAL ENVIRONMENT (IE) 2006 2007 2008 2009 Ease of Doing Business (rank out of 183) .. .. 36 40 Ease of Starting a business (rank) .. .. 15 25 Doing 160 Business Enforcing contracts (rank) .. .. 106 107 Rank Closing a business (rank) .. .. 21 21 80 World Governance Indicators (WGI) 2005 2006 2007 2008 Cyprus Regulatory Quality (-2.5 to +2.5, best) 1.29 1.28 1.30 1.25 HI non-OECD Rule of Law (-2.5 to +2.5, best) 0.84 0.92 0.95 1.03 High inc 0 Control of Corruption (-2.5 to +2.5, best) 0.77 0.88 0.89 1.04 TRADE FACILITATION (TF) 1995-99^ 2000-04^ 2005-08^ Latest Logistics Performance Index (LPI, 1 to 5 best) .. .. 2.9 3.1 Efficiency of customs and other border procedures .. .. 2.8 2.9 Quality of transport and IT infrastructure .. .. 2.9 2.9 Logistics Performance Ease of arranging competitively-priced shipments .. .. 2.9 3.1 Index Logistics competence .. .. 2.8 2.8 Ability to track and trace shipments .. .. 2.9 3.5 0 2 4 Timeliness of shipments .. .. 3.3 3.4 Cyprus HI non-OECD High inc Trading Across Borders (Doing Business, rank out of 183) 15 15 No. of documents required for export .. .. 5 5 200 No. of days required to export .. .. 7 7 160 Cost to export (US$ per container) .. .. 820 820 120 No. of documents required for import .. .. 6 6 80 No. of days required to import .. .. 5 5 40 Cost to import (US$ per container) .. .. 1,030 1,030 0 Telephones (fixed + mobile) per 100 people 63.7 106.4 155.2 165.6 Trading Across Borders Rank Internet users per 100 people 5.1 24.9 34.3 38.0 * Cyprus HI non-OECD High inc Export credit insured exposures - short term (% of goods export) .. 345.8 386.0 TRADE OUTCOME (TO)# 1995-99^ 2000-04^ 2005-08^ Latest Real growth in trade of goods and services (%) ## .. .. .. .. Real Trade Growth Rate 10 Exports .. .. .. .. 9 9.1 8.7 8 8.1 7.8 Imports .. .. .. .. 7 6.6 6.7 6 Goods .. .. .. .. 5 4 Services .. .. .. .. 3 3.4 2.7 2 Nominal growth in trade of goods and services (%) 7.0 9.5 16.2 25.5 1 0 0.0 0.0 0.0 0.0 Exports 7.0 8.7 13.9 20.4 1995-99 2000-04 2005-07 2008 Imports 7.1 10.4 18.4 29.9 Cyprus HI non-OECD Trade integration (trade as % of GDP) 101.8 102.3 99.3 103.4 High inc Goods balance (% GDP) -23.6 -26.3 -27.4 -30.4 Export Composition (2005-08) Food balance (% GDP) -7.0 -4.2 -3.6 -4.0 * Services balance (% GDP) 22.1 25.5 23.0 23.7 Agric, 7.2 Manufac, 7.6 Goods share of total exports (%) 25.3 16.7 16.3 15.4 Oth com Fuels, 0.0 Services share of total exports (%) 74.7 83.3 83.7 84.6 ser, 32.5 Minral, Goods exports as a share of world goods exports (rank)** 107 120 125 124 1.8 Services exports as share of world services exports (rank)** 47 46 52 50 Foreign Direct Investment (FDI) inflows (% of GDP) 4.6 8.7 9.2 10.5 * Total remittances inflows (% GDP) 0.5 0.9 0.9 0.8 * Transport , 21.1 Export product concentration index (0-100, most) 35.3 22.5 23.5 24.7 Travel , 26.3 Export market concentration index (0-100, most) 28.3 23.9 21.5 18.8 Top 5 export markets (shares) Greece (20%), UK (11%), Germany (6%), Italy (2%), Spain (2%) Top 5 import markets (shares) Greece (17%), Italy (11%), UK (9%), Germany (8%), Israel (8%) Top 5 export products (SITC 3 digit-shares) 542-Medicaments (14%), 899-Misc manuf artcls (8%), 776-Valves (7%), 54-Vegetables (6%), 122-Tobacco, manf (6%) Top 5 import products (SITC 3 digit-shares) 334-Hvy petrol. (19%), 781-Cars (9%), 676-Iron/steel bars (4%), 542-Medicaments (2%), 821-Furniture (2%) ^ Indicators shown are period averages (except for Trading Across Borders rank: 2005-08 reflects 2008). "Latest" indicates 2008 (for Doing Business, LPI 2009), when not available, 2006 or 2007 (noted by *). # Outcome indicators are from the World Bank Development Data Group, Prospects Group, UNCTAD and COMTRADE. ## In constant 2000 US dollars. ** Rank is based on average annual world share for each period. The sample sizes are 173, 179, 180 and 173 countries, respectively.