Cyprus education worth EUR 880 mln

The education sector was worth just over EUR 880 mln in 2008, according to the latest figures from the annual report of the Statistical Service, Economic Statistics On Education.
The value added in the sector rose by 11.2% over the previous year to EUR 880.2 mn compared with EUR 791.9 mln in 2007.
Its contribution to gross value added was 5.8% in 2008 compared with 5.6% in 2007. Gross output increased by 11.6% to EUR 1,000.7 mln from EUR 896.8 mln in 2007.
In private education, the most important contribution to the total value added was generated by “other education”, which accounted for 37.0%.
General secondary education accounted for 18.8%, while tertiary education was 15.8%.
Pre-primary and primary education amounted to 13.2%.
In public education, the most important contribution to total value added was generated by general secondary education, reaching 47.4% of the total, and pre-primary and primary education at 38.9%.
Employment in the education sector increased by 5.1% in 2008 to 21,938.
It accounted for 5.4% of the total economically active population and 5.8% of the total gainfully employed population.
Gross fixed capital formation in the sector increased by 134.8% to EUR 99.8 mln from EUR 42.5 mln in 2007.
Investment in buildings and other works accounted for EUR 41.3 mln, in machinery and equipment EUR 27.3 mln, in furniture and fixtures EUR 18.4 mln and in transport equipment EUR 12.8 mln.