Cyprus transport and storage sector grows in second quarter

Cyprus’ Turnover Value Index for the transport and storage sector reached 139.4 units in the second quarter of 2024, marking an increase of 1.8 per cent compared to the same period last year.

The Cyprus Statistical Service (Cystat), which released its latest transport and storage sector report this week, noted that 2021 serves as the base year with a value of 100 units.

The data highlights notable growth across various economic activities within the sector.

Land transport recorded the highest increase at 6.7 per cent, followed by water transport with a 6.4 per cent rise.

Moreover, postal and courier activities saw a 3.7 per cent increase, air transport grew by 2.2 per cent, and warehousing and support activities for transport experienced a 1.1 per cent rise.

Finally, for the period spanning January to June 2024, the Turnover Value Index for Transport and Storage showed a 1.2 per cent increase compared to the first half of 2023.