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According to the results of the Services and Transport Survey, the tertiary sector of the economy registered in 2016 a positive growth rate compared to 2015.

In particular, production value showed an increase of 8,6% in transportation and storage (sector H), 11,9% in accommodation and food service activities (sector I), 16,2% in information and communication (sector J), 22,4% in real estate activities (sector L), 9,3% in professional, scientific and technical activities (sector M) and 9,7% in administrative and support service activities (sector N).

Similarly, value added at current prices also recorded a rise. An increase of 4,8% to €739,4 million was observed in transportation and storage, 11,7% to €1.143,9 million in accommodation and food service activities, 3,2% to €817,3 million in information and communication, 21,5% to €83,0 million in real estate activities, 6,6% to €1.077,0 million in professional, scientific and technical activities and 6,0% to €265,1 million in administrative and support service activities. 

Furthermore, the number of persons engaged also exhibited an increase. Employment in transportation and storage reached 17.099 persons recording an increase of 2,6%, in accommodation and food service activities 41.042 (+8,6%), in information and communication 9.616 (+8,6%), in real estate activities 1.884 (+9,4%), in professional, scientific and technical activities 24.776 (+6,1%) and in administrative and support service activities 10.716 persons (+7,5%).

METHODOLOGICAL INFORMATION

Definitions

Employment – The average number of all persons employed during the year, in full time equivalent units.

Production value – The value of services produced, net receipts from the sale of goods sold in the same condition as purchased and other income.

Value added – The production value less the production expenses as well as the administrative expenses and rents paid for buildings and machinery.

Coverage and Collection of Data

The Services and Transport Survey is carried out on an annual basis and covers enterprises with the main activity falling under sections H (Transportation and storage), I (Accommodation and food service activities), J (Information and communication), L (Real estate activities), M (Professional, scientific and technical activities) and N (Administrative and support service activities) of the classification system of economic activities NACE Rev. 2 of the European Union.

The Survey for 2016 covered a sample of around 2.400 enterprises. The collection of data by the Statistical Service was done by personal interview with the use of a special questionnaire.

For more information:

Margarita Georgiou: Tel: +35722602217, Email: mgeorgiou@cystat.mof.gov.cy

Kalomyra Frangou:   Tel: +35722602220, Email: kfrangou@cystat.mof.gov.cy

(AH/II)