Cyprus local cement sales fall in August

Exports of cement rose by 16.7 per cent YoY in the first eight months of the year, to total 109,593t, compared with 92,912t in January-August 2004, according to the latest data from the Statistical Service.

In the June-August period, exports rose even faster, by 105 per cent compared with the same period of the previous year.

The boom in exports has somewhat made up for the downturn in the much larger category of local sales.

Local sales rose by just five per cent YoY in January to August to 1.03Mt. Moreover, in the June-August period they declined year on year by 5.2 per cent.

The fall in cement sales suggests a slowdown in the construction sector, despite the sharp drop in interest rates in May and June.