Cyprus economic facts during the first 5 months of 2019

Cyprus economic facts during the first 5 months of 2019

  1. Τhe GDP growth rate in real terms during the first quarter of 2019 is positive and estimated at +3,2% over the corresponding quarter of 2018
  2. Total deposits in April 2019 recorded a net increase of €236,9 million, amounting to €47,7 billion, according to figures released by the Central Bank of Cyprus
  3. Cyprus’ revenues from the exploitation of the Aphrodite natural gas field are expected to exceed $9 billion over an 18 year period, based on the agreement of the Republic with the consortium of companies that hold the license for the Aphrodite
  4. Assets Under Management (AUM) of Management Companies and Undertakings of Collective Investments (UCIs) in Cyprus rose to €6,7 billion in the first quarter of 2019, an increase of 7%, compared to the previous quarter of 2018. In accordance with the Cyprus Security and Exchange Commission (CySEC) quarterly statistical report for first quarter of 2019, the total number of supervised entities reached 187
  5. In the twelve month period from June 2018 to May 2019, in comparison to the period from June 2017 to May 2018, the annual average rate of change of the Consumer Price Index (CPI) was 2%. The corresponding annual average rate of change of the CPI in the previous twelve months was -0,1%
  6. During the period January to February 2019, 1.069 building permits were issued compared to 984 in the corresponding period of the previous year. The total value of these permits increased by 15,6% and the total area by 22,4%
  7. The total number of contracts of sales submitted to the land registry over the period January to May 2019 was 4.846. This shows an increase of 34% from last year’s corresponding period, where the total number was 3.612
  8. For the period of January to April 2019 arrivals of tourists totaled 686.783, compared to 683.581 in the corresponding period of 2018 an increase of 0,5%. The main countries of arrivals are the United Kingdom, Russia and Greece
  9. The unemployed persons registered at the district labour offices on the last day of May 2019 reached 17.607. In comparison with May 2018, a decrease of 5.232 persons or 22,9% was recorded