Official data show increase of economic activity in all sectors in 2022

An increase in all sectors of economic activity was recorded in 2022 according to the results of CySTAT's Services and Transport Survey, while the tertiary sector of the economy registered a positive growth rate in 2022 compared to 2021.

According to the results of the Services and Transport Survey, production value during 2022 showed an increase of 29.3% in transportation and storage, 44.8% in accommodation and food service activities, 37.6% in information and communication, 18.2% in real estate activities, 13.0% in professional, scientific and technical activities, 23.2% in administrative and support service activities, 8.7% in education, 7.9% in human health and social work activities, 40.2% in arts, entertainment and recreation and 10.5% in other service activities.

Regarding the value added at current prices, it said, increases were recorded in all sectors. “Νotable increases were recorded in accommodation and food service activities by 48.0%, reaching €1,397.1 million and in information and communication by 38.4% to €2,764.3 million”, it adds. Significant increases were also observed in arts, entertainment and recreation by 44.3% to €311.1 million, administrative and support service activities by 21.4% to €617.3 million, in transportation and storage by 17.0% to €949.6 million and in education by 15.8% to €428.7 million.

According to the report, in 2022, employment increased in all economic sectors. The highest employment is registered in accommodation and food service activities with 52,247 persons, followed by professional, scientific, and technical activities with 38,289 persons, information and communication with 21,024 persons, transportation and storage with 20,686 persons and administrative and support service activities with 17,942 persons.

(Source: CNA)