Cyprus miscellaneous services worth almost EUR 1 bln in 2007

Miscellaneous services amounted to almost EUR 1 bln in 2007, according to the recently published annual report entitled “Economic Statistics on Other Social and Personal Service Activities”.
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.
The main developments were as follows.
During 2007 gross output in the sector increased by 9.5% to EUR 974.5 mln from EUR 890.2 mln in 2006.
In real terms, value added increased by 4.5% compared with 3.8% in 2006.
At current market prices, value added in 2007 increased by 9.5% to EUR 671.3 mln compared with EUR 613.2 mln in 2006. Its contribution to GDP rose to 4.9% in 2007 from 4.7% in 2006.
In the private sector, the most important contribution to the total value added was generated through “recreational, culture and sporting activities”, accounting for 41.5% of the total.
Private households as employers of domestic staff accounted for 20.4% and “other service activities” accounted for 19.5%.
In the public sector the most important contribution to total value added was generated through “Museum activities and preservation of historical sites and buildings” (42.7%) and “Other sporting activities” (27.4%).
Employment in the sector increased by 5.5% in 2007 compared with the previous year and reached 33,266 persons, accounting for 8.4% of the total economically active population and 9.0% of the total gainfully employed population.
Gross fixed capital formation in 2007 increased by 9.0% to EUR 117.7 mln from EUR 108.0 mln in 2006.
Investment in new buildings accounted for EUR 82.7 mln; in machinery and equipment EUR 22.7 mln; in furniture and fixtures EUR 8.0 mln; and in transport equipment EUR 4.3 mln.