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Contribution of Ship-Management Companies to the GDP of Cyprus Rises to the Highest Level since 2013

Contribution of Ship-Management Companies to the GDP of Cyprus Rises to the Highest Level since 2013

The Cyprus Shipping Chamber has welcomed the results of the newest “Ship Management Report”, published by the Statistics Department of the Central Bank of Cyprus, which covers the period 1 January 2018 – 30 June 2018, indicating that industry revenues from Ship-management companies increased during the first half of 2018, reaching €506 million, percentage of 5,1% of Cyprus’s GDP, which is the highest level recorded since 2013.

These significant results prove once again the contribution of Cyprus Shipping, as it remains one of the most important “blood donors” of the Cyprus Economy with tangible prospects for further development. In addition, it is worth mentioning that, in a very few other maritime nations, the economic contribution of the local shipping industry reaches such high level.

To read the full report click here

 

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