Cyprus retail trade grows in June

Cyprus’ retail trade turnover, excluding motor vehicles, recorded a significant increase in June 2024, according to a report released this week by the Cyprus Statistical Service (Cystat).

According to the report, the retail trade turnover value index rose by 5.5 per cent compared to June 2023, while the Volume Index increased by 3.2 per cent over the same period.

For the period from January to June 2024, the value index registered an overall increase of 5.3 per cent compared to the same period in 2023.

At the same time, the volume index saw a 4.0 per cent rise, reflecting heightened demand and increased consumer spending.

Notable increases were observed in the food, beverages, and tobacco category, with both non-specialised stores (supermarkets) and specialised stores reporting annual increases in the value index of 8.4 per cent and 9.9 per cent respectively.

The clothing and footwear sector recorded a 6.5 per cent increase in the value index and a 6.2 per cent rise in the volume index.

Fuel sales saw a 4.3 per cent increase in the value index, although the volume Index decreased by 4.7 per cent.

Conversely, the information and communication equipment sector experienced significant declines, with the value index falling by 6.4 per cent and the volume index dropping by 3.4 per cent.