Cyprus education sector worth EUR 725.2 mln in 2006

The Cyprus education sector was worth EUR 725.2 mln, according to the annual report entitled Economic Statistics on Education for the year 2006 just published.
The report provides data on the number of establishments, employment, labour costs and other expenses, gross output, value added and data for the expenditure on fixed assets.
Value added for the education sector increased in real terms by 3.0% in 2006 compared with 2.1% in 2005.
At current market prices, value added in 2006 increased by 8.1% to EUR 725.2 mln (CYP 242.4 mln), compared with EUR 670.5 mln (CYP 392.5 mln) in 2005.
The Statistical Service reports that its contribution to GDP was 5.8% in 2006, the same as in 2005.
Gross output increased by 8.3% to EUR 819.8 mln (CYP 479.8 mln) from EUR 756.9 mln (CYP 443.0 mln) in 2005.
In the private education sector, the most important contribution to total value added was generated by “institutes & other education”, which amounted to 40.3% of the total, higher education 22.4%, secondary education 19.3% and primary education 15.6%.
In the public education sector, the most important contribution to total value added was generated through secondary education, amounting to 47.9% and pre-primary & primary education, amounting to 37.7%.
Employment in education sector increased by 3.7% in 2006 compared to the previous year and reached 19,846 persons, accounting for 5.1% of the total economically active population and 5.5% of the total gainfully employed population.
Gross fixed capital formation in 2006 increased by 20.2% to EUR 37.6 mln (CYP 22.0 mln) from EUR 31.2 mln (CYP 18.3 mln) in 2005.
Investment in new buildings accounted for EUR 23.1 mln (CYP 13.5 mln), in machinery and equipment EUR 8.7 mln (CYP 5.1 mln), in furniture and fixtures EUR 4.3 mln (CYP 2.5 mln) and in transport equipment EUR 1.5 mln (CYP 0.9 mln).
The report is available for sale from the government printing office, at the price of EUR 6.50/ (CYP 3.80).
It is also available free of charge in electronic form, at the website of the Statistical Service under the section publications (category: annual publications, theme: transport, tourism, trade, other services, subtheme: other services).