The latest data from Cystat highlights a noteworthy 1.6% increase in the Transport and Storage Turnover Value Index for January through December 2024 compared to the previous year. This demonstrates the sector’s resilience and adaptability in Cyprus.
Breakdown Of Economic Activities
In the fourth quarter of 2024, the index achieved 142.4 points (base year 2021=100) with a notable 2.2% year-on-year growth. Several sub-sectors recorded impressive increases:
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- Water Transport: A remarkable rise of 38.6%.
- Air Transport: Experienced a significant boost of 22.5%.
- Postal and Courier Activities: Gained 10.8%.
- Land Transport: Improved by 7.1%.
- Warehousing and Support for Transportation: Edged up by 0.4%.
To understand the broader economic effect, it’s interesting to compare these trends against Cyprus’ overall economic landscape. For instance, 2024 was also a groundbreaking year for the island’s tourism sector, boasting a €3.2 billion revenue intake.
This growth across different transportation sectors reflects Cyprus’ strategic positioning and its burgeoning economic potential in the European landscape.
