Air transport drags down Transport and Storage value index declines in 2019

The Turnover Value Index of Transport and Storage for 2019 declined by 1.8% year on year dragged down by a decrease in air transport.

According to data released by the Cyprus Statistical Service (Cystat) the index for 2019 declined to 118 units from 121 the year before. Air transport recorded the steepest decline in 2019 with 44.7%.

By economic activity, sea transport rose by 8.4% in 2019, storages and support activities marked an increase of 7.1% while land transport rose by 2.5%. Postal and courier activities declined by 0.7%.

For the fourth quarter of 2019, the index recorded an increase of 6,8% compared to the corresponding quarter of 2018.

Sea transport rose by 8.8%, storage and support activities by 2.0%, land transport by 0.2%, whereas a decrease of 11,2% was observed in postal and courier activities over the corresponding quarter of 2018, Cystat added.

Source: Cyprus News Agency