Cyprus Business Now

The Cyprus Statistical Service (Cystat) this week reported a significant increase in the weight of products transported by road within Cyprus, as well as to and from Cyprus, in 2022.

The total weight of products transported by road within Cyprus from January to December 2022 increased by 39.3 per cent compared to the same period in 2021.

Meanwhile, the weight of cargo transported by road to and from Cyprus also saw an increase of 28.5 per cent during the same period.

Moreover, the fourth quarter of 2022 also saw a noticeable increase in transportation volume.

The total weight of products transported by road within Cyprus showed a 23.8 per cent increase compared to the same period in 2021, while the weight of cargo transported to and from Cyprus increased by 21.6 per cent.

These figures indicate a significant boost in the transportation industry within Cyprus and the demand for such services.

According to Eurostat, the statistical service of the EU, pesticide sales in Cyprus decreased slightly in 2021, with a total of 1.235 tonnes sold compared to 1.190 tonnes in 2020.

Meanwhile, the EU as a whole saw a moderate increase of 2.7 per cent in pesticide sales in 2021 compared to the previous year, with 355,175 tonnes sold.

This increase also represented a return to the medium-term annual average between 2011 and 2021.

Cyprus was one of 12 EU member states that observed a reduction in pesticide sales in 2021 compared to 2011.

Specifically, sales in Cyprus decreased from 1.235 tonnes to 1.104 tonnes, a decline of 10.6 per cent.

Other countries with significant decreases in sales were Czechia (-36 per cent), Denmark (-35 per cent), and Portugal (-32 per cent). Conversely, Latvia (+85 per cent) and Austria (+68 per cent) reported significantly higher pesticide sales in 2021 than in 2011.

In terms of the types of pesticides sold, fungicides and bactericides made up the largest portion at 44 per cent, followed by herbicides, haulm destructors, and moss killers at 34 per cent, and insecticides and acaricides at 14 per cent.

Spain (21 per cent), France (20 per cent), Germany (14 per cent), and Italy (14 per cent) were the EU countries with the highest pesticide sales in 2021, as they are among the bloc’s largest agricultural producers.

The Cyprus Stock Exchange (CSE) ended Thursday, May 11 with losses.

The general Cyprus Stock Market Index was at 107.04 points at 12:56 during the day, reflecting a decrease of 0.46 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 64.75 points, representing a drop of 0.46 per cent.

The total value of transactions came up to €36,007.

In terms of the sub-indexes, the main and hotel indexes fell by 0.67 per cent and 1.02 per cent respectively.

The alternative index rose by 0.06 per cent while the investment firm index remained stable.

The biggest investment interest was attracted by Vassiliko Cement Works Public Company (+0.75 per cent), the Bank of Cyprus (+0.41 per cent), Hellenic Bank (-2.51 per cent), and the Cyprus Cement Public Company (no change).