Cyprus’ Turnover Value Index of Transport and Storage dropped by 1.9% in the first quarter of 2024, compared with the respective period of last year, data released on Tuesday by the Cyprus Statistical Service (Cystat) show.

The index amounted to 115 units in the first quarter of the year compared with 117.3 in the respective quarter of last year.

By economic activity, increases relative to the first quarter of the previous year were observed in postal and courier activities with 10.2% and in land transport with 4.2%, while decreases were registered in air transport with 15.2%, in warehousing and support activities for transportation with 2.6% and in water transport with 1.3%, Cystat added.

Furthermore, according to Cystat, the Turnover Value Index during the first quarter of 2024 recorded increases in the sectors of information and communication activities with 14.9%, accommodation and food service activities with 14.2%, administrative and support service activities with 13,1% and professional, scientific and technical activities 4.1%.

On the contrary, the real estate activities sector dropped by 3,.2% compared to the corresponding quarter of 2023.