Cyprus retail trade grows in July

Cyprus’ retail sector experienced growth in July, according to a report released on Monday by the Cyprus Statistical Service (Cystat).

According to the report, the retail trade turnover value index rose by 3.4 per cent compared to July 2023, while the volume index increased by 1.2 per cent over the same period.

For the period from January to July 2024, the value index registered an overall increase of 5.0 per cent compared to the same period in 2023, and the volume index similarly recorded a rise of 3.6 per cent.

Supermarkets and non-specialised stores dealing in food, beverages, or tobacco saw a 4.6 per cent increase in value and a 1.8 per cent rise in volume in July 2024 compared to July 2023.

Similarly, specialised stores for food, beverages, and tobacco experienced an even more pronounced increase, with the value index climbing by 10.2 per cent and the volume index by 5.3 per cent.

The automotive fuel sector saw a significant growth of 12.0 per cent in value, accompanied by a 7.4 per cent increase in volume.

In contrast, the information and communication equipment sector faced declines, with a drop of 8.9 per cent in value and 3.4 per cent in volume.

In the category of other household equipment, including construction materials, carpets, furniture, electrical appliances, and lighting, there was a modest decline in value by 2.3 per cent, while the volume slightly decreased by 1.2 per cent.

Conversely, cultural and recreation goods, such as books, stationery, sports equipment, and toys, saw growth with a 5.9 per cent increase in value and a 5 per cent rise in volume.

The clothing and footwear sector reported a 2.0 per cent decrease in value and a 2.9 per cent decline in volume.

On the other hand, the pharmaceuticals, orthopaedic goods, and cosmetics sector faced a significant drop of 7.1 per cent in value and an 8.8 per cent decline in volume.

Notably, the sector dealing with flowers, plants, watches, jewellery, optical goods, and second-hand goods experienced robust growth, with the value index surging by 9.6 per cent and the volume index by 5.6 per cent.

Finally, retail sales not conducted in stores saw a decline, with value dropping by 3.4 per cent and volume by 3.9 per cent.