Retail trade in Cyprus showed significant growth in November 2024, with the Turnover Value Index increasing by 7.2% and the Turnover Volume Index rising by 6.3% compared to November 2023, according to data released by the Statistical Service.
Value Growth Highlights
The most notable increase in retail trade value came from cultural and recreation goods such as books, stationery, sports equipment, and toys, along with clothing and footwear, both experiencing a 12.3% rise. Supermarkets also contributed to the growth, recording an 11.7% increase in the value of food, beverages, and tobacco sales.
However, retail trade outside physical stores saw the largest decline in value, dropping by 5.1%.
Volume Trends
In terms of volume, the clothing and footwear category led the growth with a 14.1% increase, followed by cultural and recreation goods, which rose by 10.2%. Like the value trends, retail sales outside stores also saw a decline in volume, falling by 5.2%.
Year-to-Date Performance
From January to November 2024, the Turnover Value Index grew by 5.4%, while the Turnover Volume Index increased by 4.3%, compared to the same period in 2023.
These figures reflect a robust retail sector, with particular strength in key categories such as fashion, leisure, and everyday consumer goods.
Source: Stockwatch Cyprus