Eurostat: Retail trade in Cyprus increased by 9.4% in April annually

Cyprus had the largest annual increase in retail trade volume among EU member states (9.4%) in April compared to last year, according to estimates from Eurostat, the statistical office of the European Union.

On the EU level, in April 2023 the seasonally adjusted volume of retail trade remained unchanged in the eurozone and increased by 0.1% in the EU, compared with March 2023.

In March 2023, the retail trade volume had decreased by 0.4% in the eurozone and by 0.5% in the EU.

In Cyprus, the volume of retail trade increased by 1.5% in April compared to March 2023. In March 2023, there had been a 0.9% reduction in retail trade volume compared to the previous month.

In April 2023 compared with April 2022, the calendar adjusted retail sales index decreased by 2.6% in the eurozone and by 2.9% in the EU, while it increased by 9.4% in Cyprus.

By retail sector, the volume of retail trade in the eurozone in April compared with March, increased by 0.5% for non-food products, while it decreased by 0.5% for food, drinks and tobacco and by 2.3% for automotive fuels.

In the EU during the same period, the volume of retail trade increased by 0.6% for non-food products, while it decreased by 0.4% for food, drinks and tobacco and by 2.2% for automotive fuels.

Among Member States for which data are available, the highest monthly increases in the total retail trade volume were registered in Croatia (+3.4%), Luxembourg (+3.3%) and Sweden (+3.1%).

The largest decreases were observed in Slovakia (-5.8%), Romania (-3.7%) and Slovenia (-2.4%).

Also, the volume of retail trade in April 2023 in the eurozone by retail sector but compared to April 2022 decreased by 4.4% for food, drinks and tobacco, by 1.8% for automotive fuels and by 1.1% for non-food products.

In the EU during the same period, the retail trade volume decreased by 4.6% for food, drinks and tobacco, by 2.3% for automotive fuels and by 1.5% for non-food products.

Among Member States for which data are available, the largest yearly decreases in the total retail trade volume were registered in Hungary (-12.6%), Estonia (-10.0%) and Slovakia (-9.8%).

The highest increases were observed in Cyprus (+9.4%), Spain (+7.8%) and Luxembourg (+6.0%).

(Source: CNA)