Cyprus health sector worth EUR 643 mln

The Statistical Service has announced the publication of the annual report “Economic Statistics on health” for the year 2006.
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 2006, value added in real terms for the health sector increased by 3.3% compared with the 2.4% increase that was realised in 2005.
At current market prices, value added in 2006 increased by 6.7% to CYP 272.4 mln (EUR 465.4 mln), compared with CYP 255.2 mln (EUR 436.0 mln) in 2005.
Its contribution to GDP was 3.8% in 2006, the same as in 2005.
Gross output increased by 8.9% to CYP 409.6 mln (EUR 699.8 mln) from CYP 376.1 mln (EUR 642.6 mln) in 2005.
In private health, the most important contribution to the total value added was generated through the medical practice activities at 26.9%; hospital activities accounted for 23.1% while other human health activities accounted for 15.8%.
In the public health sector, the most important contribution to the total value added was generated through hospital activities at 84.8%.
Employment in health sector increased by 4.8% in 2006 compared with the previous year and reached 14,326 persons, accounting for 3.7% of the total economically active population and 4.0% of the total gainfully employed population.
Gross fixed capital formation in 2006 decreased by 8.3% to CYP 23.2 mln (EUR 39.6 mln) from CYP 25.3 mln (EUR 43.2 mln) in 2005.
Investment in new buildings accounted for CYP 11.4 mln (EUR 19.5 mln); machinery and equipment accounted for CYP 9.1 mln (EUR 15.5 mln); furniture and fixtures for CYP 2.3 mln (EUR 3.9 mln) and transport equipment CYP 0.4 mln (EUR 0.7 mln).