Services turnover register annual growth in 2019

The Turnover Value Index of the services sector marked annual growth in 2019 except from administrative and support service activities declined marginally.

According to data published by the Statistical Service of Cyprus, for the period of January – December 2019, the index of accommodation and food service activities accelerated by 1.5%, information and communication activities rose by an annual 27.1%, while professional, scientific and technical activities marked an increase of 0.9% year on year.
 
The index of administrative and support service activities compared to respective period of 2018.
 
For the fourth quarter of 2019, Turnover Value Index recorded an increase of 4.4% in accommodation and food service activities and 13.6% in information and communication activities.
 
Professional, scientific and technical activities declined by annual 0.5% and administrative and support service activities fell by 3.0% compared to the corresponding quarter of 2018, Cystat added.