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Cement sales in 2014 continued to fall

20/01/2015 11:10
Cement sales in the domestic market fell at the lowest level since data are available in 2014, reflecting the severe contraction in construction activity, while the industry prospects are bleak.

According to the latest data from the Statistical Service, cement sales in the domestic market decreased by 15.4% to 452.6 thousand in 2014 from 535K in 2013.

In 2013 cement sales decreased by 31.5%.

As the figures show, the cement market is on a downward trend since 2008 when the economic crisis started to affect Cyprus.

The fall in cement sales since 2008 reached 76.7%.

President of the Association of Concrete Manufacturers, Neokles Kyriacou told StockWatch that January started very badly and the negative sentiment is expected to continue due to the uncertainty in the economy.

Regarding December 2014, cement sales increased by 1.4% to 39.4 thousand tons from 38.9 thousand in December 2013. The rise is the first recorded since December 2013.