News Local Productivity increases in Cyprus in 2017

Productivity increases in Cyprus in 2017

Productivity in Cyprus rose in 2017 according to preliminary data published by the Cyprus Productivity Centre (CPC).

According to the CPC, productivity measured as GDP per employee rose by 0,5% in 2017 compared with 2016, while productivity measured as GDP per working hour increased by 0.6% compared with 2016.

The rise in labour productivity is mainly due to the GDP increase by 3.9%, employment increase by 3.4% and the numbers of employees by 3,4% and working hours by 3.3%, the CPC said.

For the period of 2015-2017 labour productivity in Cyprus rose by 0.4% measured as GDP per employee and by 0.5% measured as GDP per working hour.

Cypriot secondary sector marked the highest increase with 7.0%, due to a 12.9% rise in Gross Value Added per working hour and an increase of 5.5% in total working hours.

(CNA)

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