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12° Nicosia,
22 February, 2024
 

Retail trade soars by 8.4% in June

Food and tech sales lead the charge with impressive growth rates

Newsroom / CNA

Retail trade turnover increased by 8.4% in value and 6.4% in volume in June 2023 compared to the corresponding month of 2022, according to data presented by the Statistical Service on Tuesday.

The Turnover Value Index of Retail Trade for June 2023 increased by 8.4%, with the biggest increase recorded in retail sales of food, beverages and tobacco (in specialized stores). The trade of computers and telecommunications equipment, curtains, carpets, books, stationery, sporting equipment, toys, flowers, plants, watches, jewelry, etc. went up 15.3% in value. The sale of food products and textiles, clothing, and footwear recorded an increase of 13.3%.

A 17.6% decrease in value was recorded in the retail sale of automotive fuel in specialized stores.

For the same month, the Turnover Volume Index of Retail Trade increased by 6.4% compared to the corresponding month of the previous year. Trade of computers and telecommunications equipment, curtains, carpets, books, stationery, sporting equipment, toys, flowers, plants, watches, jewelry, etc. recorded the largest increase of 12.5%. Sales of textiles, clothing, and footwear went up 9.3% in volume and sales of non-food products (except automotive fuel) rose by 8.6%.

Retail trade of automotive fuel in specialized stores increased by 7.7% in volume in June.

For the period January-June 2023, there was an increase in the Turnover Value Index of Retail Trade by 11.5% and the Turnover Volume Index of Retail Trade by 7.4%.

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Cyprus  |  economy  |  business

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