Cyprus has EU’s highest rise in retail trade

In February, the monthly seasonally adjusted volume of retail trade increased by 1.6% in Cyprus and 8.3% annually, the highest increase among EU states, according to Eurostat.

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 since February 2022.

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

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

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

Among the 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, 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 1.9% for non-food products, while it grew by 0.1% for automotive fuels.

Among the Member States, the largest yearly decreases in 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%).