“Suits” buoy Cyprus services trade in 2006

Accountants, lawyers and architects appear to have been the main drivers of growth in turnover 2006, according to the latest data on the turnover value of services underlining that Financial Mirror readers are the backbone of the new Cypriot economy.

The “legal, accounting, book-keeping, auditing and other related activities” sector rose by 9.6% in 2006, while “architectural, engineering and other related activities” rose by 10.6% in value terms.

Hotels and restaurants, meanwhile, rose by a respectable 4.8% and “computer and related activities” rose by 5.9%.

 

Telecoms up 5.1%, air transport up 4.1% in 2006

 

Turnover in the telecommunications industry rose by 5.1% in 2006 according to the latest transport and communications data.

Air transport was up 4.1%, which presumably reflects freight and residents travelling abroad, given that the number of tourist arrivals fell last year.

Land transport activity decreased by 1.0%, while water transport turnover decreased by 1.7%.