Cyprus sees increase in retail trade volume and value

The volume and value of retail trade transactions in Cyprus saw a notable increase in April 2024 compared to the same month in 2023, according to a report released this week by the Cyprus Statistical Service.

Specifically, the Retail Trade Turnover Value Index rose by 6.5 per cent in April 2024 compared to April 2023.

During the same month, the Retail Trade Turnover Volume Index increased by 5.3 per cent compared to the corresponding month of the previous year.

For the period from January to April 2024, the value index is estimated to have increased by 5.7 per cent, while the volume index saw a rise of 5.0 per cent compared to the same period in 2023.

Meanwhile, according to Eurostat, seasonally adjusted retail trade volume increased by 0.8 per cent in the euro area during March of this year, while it rose by 1.2 per cent in the EU as a whole, compared with February 2024.

This rise follows a decline in February 2024, where retail trade volume fell by 0.3 per cent in the euro area and by 0.1 per cent in the EU.

Looking at a year-on-year comparison, the calendar-adjusted retail sales index for March 2024 increased by 0.7 per cent in the euro area and by 2.0 per cent in the EU compared with March 2023.