Day: July 1, 2021

The Turnover Value Index of Retail Trade for April increased by 47,4% compared to the corresponding month of the previous year .

According to the Statistical Service of Cyprus, for the same month, the Turnover Volume Index of Retail Trade increased by 47,3% compared to the corresponding month of the previous year.

This remarkable increase of the indices is due to the halt of activity in retail trade for the whole of April 2020 compared to just five days this April for Covid-19 containment purposes, it adds.

Source: Cyprus News Agency

Ryanair celebrated on Thursday the largest summer schedule it has ever created for Cyprus, which includes 36 routes from the two airports of the island.

Its summer program for 2021 includes 6 new routes to Bologna, Bari, Corfu, Marseille, Rhodes, Treviso Venice, from Pafos and London Stansted and Vienna from Larnaka.

A press conference was held in the Pafos airport on Thursday during which it was pointed out that Cypriot passengers can book their summer holidays in European destinations such as Bari, Corfu, Rhodes, Venice, with even lower fares and have the option to benefit from a zero fee in case of change of plans.

Source: Cyprus News Agency

In June 2021, the Consumer Price Index increased by 0.32 units and reached 102.39 units compared to 102.07 units in May 2021.

According to the Statistical Service of Cyprus, in June 2021, the inflation increased by 3.1%. For the period January-June 2021, the CPI increased by 0.5% compared to the corresponding period of the previous year.

As regards the economic origin, the largest changes when compared to the index of June 2020 were recorded in Petroleum products (22.1%) and Electricity (17.2%). In comparison to the index of the previous month, the largest change was monitored in Electricity (5.3%).

Compared to June 2020, the largest changes were observed in the categories: Transport (11.2%) and Housing, Water, Electricity, Gas and Other Fuels (7.3%). In comparison to the CPI of the previous month, the largest changes were noted in Clothing

Source: Cyprus News Agency

Cyprus` GDP in 2021 is projected to record a recovery of 3.8%, following a contraction of 5.1% in 2020, according to the June 2021 edition of the Economic Bulletin, issued by the Central Bank of Cyprus.

It adds that in 2022 and 2023 GDP is expected to further grow by 3.1% and 2.5% respectively, marginally lower than the previous forecasts in December 2020.

In the bulletin, the CBC says that in the first quarter of 2021 there was a slight contraction in economic activity of 1.6% due to strict restrictive measures to address the pandemic.

GDP contraction in 2020 by 5.1% is due to all subcategories of expenditure, with the exception of public expenditure, which recorded an increase.

Regarding the labour market, the CBC bulletin says the impact of the pandemic was negative but smaller compared to the impact on GDP, due to economic m

Source: Cyprus News Agency

In 2020, the expected average duration of working life for 15-year olds in the European Union (EU) was 35.7 years, 0.2 years less than the average for 2019, according to data released today by Eurostat, the statistical service of the EU. This is the first time since 2000 that the expected average duration of working life has declined. According to the data It was 37.1 years in Cyprus.

The number of years that people can expect to be in the labour force (employed or unemployed) during their life course has also been impacted by the COVID-19 crisis. Among others, people who would have been available to work and would have sought employment, may have given up their search due to low return expectations, and consequently be outside the labour force, reducing the expected duration of working life.

As regards the gender gap, it diminished slowly but steadily at EU

Source: Cyprus News Agency

In May 2021, the euro area seasonally-adjusted unemployment rate was 7.9%, down from 8.1% in April 2021 and up from 7.5% in May 2020. The EU unemployment rate was 7.3% in May 2021, down from 7.4% in April 2021 and up from 6.9% in May 2020. These figures are published by Eurostat, the statistical office of the European Union.

For Cyprus, unemployment in May 2021 increased to 9.9% (45,000 individuals, 9.1% for males and 10.7 for females), up from 9.2% (42,000 individuals) in April 2021 and 7.8% in May 2020 (35,000 individuals).

Eurostat estimates that 15,278 million men and women in the EU, of whom 12,792 million in the euro area, were unemployed in May 2021. Compared with April 2021, the number of persons unemployed decreased by 382,000 in the EU and by 306,000 in the euro area. Compared with May 2020, unemployment rose by 949,000 in the EU and by 803 000 mi

Source: Cyprus News Agency