Cyprus Business Now

Business activity in the accommodation and food services sector has increased significantly, rising by 84.1 per cent in the third quarter of 2021, according to a report by the Cyprus Statistical Service.

The Turnover Value Index during the third quarter of 2021 recorded increases in the sectors of accommodation and food service activities (84.1 per cent), administrative and support service activities (34.9 per cent), information and communication (16.2 per cent) as well as professional, scientific and technical activities (5.6 per cent).

All increase percentages are on a year-on-year basis.

In the first nine months of the year, year-on-year increases were observed in the index of accommodation and food service activities (54.6 per cent), administrative and support service activities (12.6 per cent), information and communication (9.1 per cent) and professional, scientific and technical activities (3.1 per cent).

Industrial output prices increased by 13 per cent in October 2021 year-on-year while they increased by 1 per cent month-on-month.

According to the Cyprus Statistical Service (Cystat), the Index of Industrial Output Prices for October 2021 reached 111.6 units, recording an increase of 1 per cent compared to September 2021.

Compared to the corresponding month of the previous year, the index recorded an increase of 13 per cent.

For the period January-October 2021, the index showed an increase of 5.3 per cent compared to the corresponding period of 2020.

By division of economic activity in the manufacturing sector, October 2021 saw year-on-year increases in all economic activities.

The most significant rises were observed in the manufacturing of wood and products of wood and cork excluding furniture (27.5 per cent); the manufacturing of basic metals and fabricated metal products (24.2 per cent); the manufacturing of rubber and plastic products (8.7 per cent); the manufacturing of other non-metallic mineral products (4.9 per cent); as well as the manufacturing of machinery and equipment, motor vehicles and other transport equipment (4.4 per cent).

The Cyprus Stock Exchange (CSE) ended Wednesday, December 1 with losses.

The main Cyprus Stock Market Index was at 67.07 points at 13:02 during the day, reflecting a drop of 0.22 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 40.14 points, representing a decrease of 0.2 per cent.

The total value of transactions came up to €93,072.

In terms of sub-indexes, the alternative index rose by 0.06 per cent, while the investment firm and main indexes fell by 6.71 per cent and 0.52 per cent respectively.

The biggest investment interest was attracted by Vassiliko Cement Works (+1.54 per cent), Logicom (+1.9 per cent), Bank of Cyprus (+0.47 per cent), Louis (+8.75 per cent), and Pandora (-1.4 per cent).