Eurostat: Cyprus had highest increase in retail trade volume in February

In February 2023, the seasonally adjusted volume of retail trade increased by 1.6% in Cyprus compared with January 2023, and by 8.3% compared with February 2022, according to estimates from Eurostat. According to the same estimates, the retail trade volume in Cyprus saw the highest increase among EU member states compared with the previous month and the previous year.

During the same month, the seasonally adjusted volume of retail trade decreased by 0.8% in the euro area and by 0.9% in the EU, compared with January 2023, and decreased by 3.0% in the euro area and by 3.1% in the EU compared with February 2022.

In January 2023, the retail trade volume had increased by 0.3% in Cyprus, by 0.8% in the euro area and by 0.9% in the EU, compared to December 2022.

By sector, in the euro area in February 2023, compared with January 2023, the volume of retail trade decreased by 1.8% for automotive fuels, by 0.7% for non-food products and by 0.6% for food, drinks and tobacco.

In the EU, the volume of retail trade decreased by 1.4% for automotive fuels, by 1.0% for non-food products and by 0.6% for food, drinks and tobacco.

Among Member States for which data are available, the largest monthly decreases in total retail trade volume were registered in Slovenia (10.5%), Hungary and Poland (both 2.0%) and Sweden (1.6%).

The highest increases were observed in Cyprus (1.6%), Luxembourg (0.8%) and Belgium (0.7%).

Compared with last year and February 2022, the volume of retail trade in the euro area decreased by 4.9% for food, drinks and tobacco and by 1.8% for non-food products, while it grew by 1.1% for automotive fuels.

In the EU, the retail trade volume decreased by 4.9% for food, drinks and tobacco and by 1.9% for non-food products, while it grew by 0.1% for automotive fuels.

Among Member States for which data are available, the largest yearly decreases in the total retail trade volume were registered in Hungary (10.1%), Sweden (8.5%) and Germany (7.0%).

The highest increases were observed in Cyprus (8.3%), Luxembourg (6.8%) and Spain (4.7%).