Insider Business Cyprus retail trade’s ups and downs

Cyprus retail trade’s ups and downs

It took a deep dive during the 2010 decade before wholesale and retail trade in Cyprus rebounded and took off an upward course, according to the Statistical Service’s data.

In 2010, the Retail Turnover Value Index recorded a total turnover of €12,141.3 million. Wholesale turnover was €5,547.5 million that year and retail sales reached €5,561.7 million (excluding motor vehicles and motorcycles in both categories).

In 2015, that is five years later, the Index recorded a total turnover of € 10,910.1 million marking a decrease of 10.14% from 2010. Wholesale turnover of €4,947.8 million (-10.81% from 2010) was recorded that same year) and retail trade turnover amounted to €5,216.6 million (-6.20% from 2010).

The Index returned to normal levels in 2017, recording a turnover of €12,227.3 million, an increase of 0.71% from 2010 and 12.07% from 2015. In wholesale retail, turnover was € 5,629.6 million (an increase of 1.48% from 2010) while retail trade’s amounted to €5,686.1 million, marking an increase of 2.24% from 2010.

In 2019, the value and volume of turnover of non-motorised retail sales increased in October compared to the corresponding month the previous year.

Specifically, preliminary figures show that the Retail Trade Turnover Value Index for October 2019 increased by 2.8% compared to the corresponding month the previous year, reaching 119.9 points. For the period of January-October 2019, the index is estimated to have increased by 1.6% compared to 2018’s.

In addition, preliminary figures have the Index for October 2019 increasing by 6.1% compared to the corresponding month the previous year reaching 123.4 units (2015 base=100). For the period January-October 2019, the Index is estimated to have increased by 2.9% compared to the same period in 2018.

By Marios Rousou


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