In the fourth quarter of 2024, total employment in Cyprus reached 500,606 workers, including 448,007 employees and 52,599 self-employed individuals, according to data released by the Statistical Service on Monday.

Compared to the same quarter in 2023, total employment increased by 1.7% in the last quarter of 2024. The highest percentage increases were recorded in the arts, entertainment, and recreation sector, as well as in accommodation and food service activities and the information and communication sector.

The total number of actual working hours in Q4 2024 was 233.566 million, reflecting a 1.7% increase from the corresponding period in 2023. While several sectors experienced growth, the construction sector recorded a decline in working hours.

According to the Statistical Service's latest report on motor vehicle registrations for the January-February 2025 period, total vehicle registrations in February 2025 fell by 13.6%, dropping to 3,757 from 4,346 in February 2024.

Similarly, registrations of passenger saloon cars declined by 15.5%, reaching 2,908, compared to 3,443 in February 2024.

For the January-February 2025 period, the total number of registered vehicles decreased by 8.8%, amounting to 7,834, compared to 8,589 in the same period of 2024. Passenger car registrations also declined by 11.5%, totaling 6,084, compared to 6,873 in 2024. Of these, 2,849 (46.8%) were new cars, while 3,235 (53.2%) were used vehicles.

Notably, rental cars saw a 9.7% increase, reaching 555. Meanwhile, the share of petrol-powered cars declined to 41.6% (down from 50.3% in 2024), and diesel-powered vehicles also dropped to 9.2% (from 10.4% in 2024). Conversely, the market share of electric cars increased from 3.1% in 2024 to 5.3% in 2025, while hybrid vehicles rose from 36.3% to 43.9%.

Registrations of buses saw a sharp decline, dropping to 20 in January-February 2025 from 59 in the same period of 2024. Freight vehicle registrations also fell to 915, a 5.3% decrease compared to 966 in the previous year. While light trucks increased by 1.0% to 773, heavy trucks fell by 12.7% to 89, and road tractors (trailers) dropped by 15.2% to 28. Rental vehicles in this category saw a 62.1% decline, with only 25 registrations.

In the motorcycle sector, mopeds under 50cc decreased to 49, compared to 92 in the same period of 2024, while motorcycles over 50cc increased significantly by 36.6%, reaching 661 compared to 484 in the previous year.

Preliminary fiscal results from the Statistical Service show that Cyprus recorded a general government surplus of €566.9 million (1.6% of GDP) in January 2025, up from €476.5 million (1.4% of GDP) in January 2024.

Total government revenue in January 2025 rose by €194.3 million (+14.3%), reaching €1.554.9 billion, compared to €1.360.6 billion in the same month of 2024.

Key contributors to this revenue increase include:

• Taxes on production and imports: Up by €40.2 million (+11.3%), totaling €396.3 million (of which VAT revenue increased by €8.4 million (+3.5%) to €249.7 million).
• Income and wealth taxes: Increased by €52.2 million (+9.7%) to €592.7 million.
• Interest and dividends: Grew by €2.8 million (+37.4%), reaching €10.3 million.
• Revenue from services: Rose by €56.6 million, amounting to €109.3 million, up from €52.7 million in 2024.
• Social contributions: Increased by €29.9 million (+7.8%), reaching €415.1 million.
• Current transfers: Almost doubled, increasing by €14.5 million (+97.5%), reaching €29.3 million.

In contrast, capital transfers declined by €1.8 million (-50.4%), dropping to €1.8 million, compared to €3.6 million in 2024.

Total government expenditures in January 2025 increased by €103.9 million (+11.8%), reaching €988.0 million, up from €884.1 million in January 2024.

Significant increases were noted in:

• Compensation of employees: Rose by €28.4 million (+9.9%), reaching €314.3 million.
• Social benefits: Increased by €49.6 million (+12.5%), reaching €445.7 million.
• Interest payments: Rose by €0.6 million (+1.7%) to €35.5 million.
• Subsidies: More than doubled, increasing by €4.4 million, reaching €8.7 million.
• Current transfers: Grew by €13.1 million (+21.3%) to €74.6 million.
• Capital investments: Increased by €7.3 million (+29.8%), reaching €31.6 million.

It was noted that for local government authorities, estimates were used due to the lack of submitted data from municipal and district administration bodies.