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According to the results of the Construction and Land Development Survey, the main aggregates of the construction sector in 2019 registered a positive growth rate compared to 2018.

In particular, production value in the broad construction sector increased in 2019 by 20,2% to €4.302,2 million compared to €3.578,0 million in 2018. Value added at current prices increased by 21,7% to €1.165,6 million in 2019 compared to €958,1 million in 2018.

New construction in 2019 reached €2.468,1 million, registering a rise of 22,8% over 2018. More specifically, the value of new residential buildings increased in 2019 by 30,9% compared to 2018, non-residential buildings by 5,2%, and civil engineering projects by 24,0%.

Employment in the construction sector increased in 2019 by 11,7% to 34,4 thousand compared to 30,8 thousand persons in 2018.

METHODOLOGICAL INFORMATION

Definitions

Employment – The total number of working proprietors and full-time and part-time employees during the year.

Production value – Derived by adding on turnover other income and changes in the value of stocks at the end of the year and deducting the cost of goods and property purchased for resale.

Value added - Derived by deducting from the production value the cost of raw materials, other production expenses, administrative expenses and rents paid for buildings and machinery.

Coverage and collection of data

The Construction and Land Development Survey covers a sample of around 1.370 enterprises with main activity falling under section F of the classification system of economic activities NACE Rev. 2 of the European Union. It covers divisions 41 (construction of buildings), 42 (civil engineering) and 43 (specialized construction activities).

The collection of data by the Statistical Service is done by personal interview with the use of a special questionnaire.

For more information:
Statistical Service (CYSTAT) Website, subtheme Construction

Contact

Isidoros Kypridakis, Tel: +357 22602166, Email: ikypridakis@cystat.mof.gov.cy
Panagiota Christodoulou, Tel: +357 22602172, Email: pchristodoulou@cystat.mof.gov.cy 

(MV/ECHR)