News Local Number of Cypriot enterprises increased by 4.2% in 2017

Number of Cypriot enterprises increased by 4.2% in 2017

The number of enterprises in 2017 reached 96.936 compared to 93.066 in 2016 recording an increase of 4,2%.

According to data from the Statistical Service of Cyprus, the number of establishments increased by 4,9%, from 100.118 in 2016 to 105.019 in 2017.

During the period from 2011 to 2014 the number of enterprises and establishments was decreasing.

The most significant decrease was observed during the years 2013-2014, when a decrease of 1,7% and 4,3% was recorded in the number of enterprises and establishments respectively. Since 2015 an annual increase in the number of enterprises and the number of establishments is being recorded.

In 2017, 95% of enterprises were employing less than 10 persons.

The biggest productive sector in number of enterprises was “Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles” followed by “Professional, Scientific and Technical Activities”, while the smallest sector was “Mining and Quarrying”.

Most of the establishments were in Nicosia district, while the fewer number of establishments was in Famagusta district.

(Cyprus News Agency)

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