Nicosia, Cyprus. Cyprus’ tertiary sector recorded growth across all economic activities in 2024, according to the services and transport survey released by the Cyprus Statistical Service on Thursday. The survey showed that the production value of all sectors covered increased compared with 2023.
Production value rises across sectors
Transportation and storage recorded a 3.0 per cent increase in production value during 2024, while accommodation and food service activities rose by 10.0 per cent.
Information and communication posted the strongest production value growth among the main service sectors, increasing by 22.0 per cent during the year.
Real estate activities recorded a 9.0 per cent rise in production value, while professional, scientific and technical activities increased by 9.3 per cent.
Administrative and support service activities grew by 14.7 per cent, education rose by 8.9 per cent, and human health and social work activities increased by 9.2 per cent.
Arts, entertainment and recreation recorded a 20.3 per cent increase, while other service activities rose by 7.4 per cent.
Value added increases at current prices
Value added at current prices increased across every sector surveyed, with some of the largest gains recorded in arts, entertainment and recreation and information and communication.
Arts, entertainment and recreation generated value added of €453.00 million in 2024, representing an annual increase of 28.0 per cent.
Information and communication recorded value added of €3.95 billion, up by 20.6 per cent compared with the previous year.
