Information and communications the only sector to show gains in Turnover amidst the Covid pandemic

Information and communications was the only sector to show annual gains in Turnover in Cyprus due to increased demand for distant learning and work from home in the midst of the coronavirus pandemic.

 

According to data published by the Statistical Service of Cyprus (Cystat) over the Turnover Value Index for the third quarter of 2020, the sector of information and communications was the only one to show annual gains with an increase of 5.3% year on year, whereas all other sectors showed losses.

 

The sector of accommodation and food service activities, affected by travel bans to tourist arrivals and measures to contain the spread of Covid-19 plunged by an annual 56.1% in the third quarter of 2020, while administrative and support service activities declined by 42.2% and professional, scientific and technical activities posted annual a reduction of 12,0%.

 

For the period January-September 2020, information and communications recorded an annual gains of 2.8%, whereas accommodation and food service activities nosedived with 58.1%). Administrative and support service activities declined by 33,0% and professional, scientific and technical activities declined by 9,7%, Cystat said.

 

Source: Cyprus News Agency

 

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