The area had notable economic growth as a result of the trading, the industrial development and rich agricultural production. In the years prior the Turkish invasion, lemon cultivation was at its peak. With the establishment of the Cooperative Society of Lemon Producers of District of Kyrenia (SELEK), the lemon trade, the gold of Karavas, was at its highest.
Apart from the ideal weather conditions, it was the water running from the town’s natural spring, Palia Vrysi, irrigating the fertile plains of Karavas, which contributed to the development of the area. In the old times, spring water was also used to run the mills for wheat grinding.