Cyprus Business Now

Retail trade experienced a boom in Cyprus during August, both in terms of value and volume.

According to data released by the Cyprus Statistical Service (Cystat), the Turnover Value Index of Retail Trade for August 2021 rose by 9.1 per cent year-on-year.

For the same month, the Turnover Volume Index of Retail Trade jumped by 2.9 per cent year-on-year, the report added.

Furthermore, for the period between January and August of this year, the value index is estimated to have risen by 8.7 per cent, while the volume index recorded an increase of 7.4 per cent compared to the same period of the previous year.

The Index of Industrial Output Prices registered a year-on-year rise of 11.5 per cent in September of this year, according to the Cyprus Statistical Service (Cystat).

Conversely, the index experienced a negligible year-on-year increase during August, the service added, with the index rising by just 0.5 per cent during that month.

For the period between January and September 2021, the index increased by 4.5 per cent year-on-year.

Compared to August 2021, the index remained stable in the sectors of mining and quarrying, while it experienced an increase in water supply and materials recovery by 2.4 per cent, manufacturing by 0.4 per cent and electricity supply also by 0.4 per cent.

In addition, electricity supply rose by 36.3 per cent year-on-year, while water supply and materials recovery, manufacturing, and mining and quarrying also rose by 32.8 per cent, 4.9 per cent and 1.1 per cent respectively.

In terms of manufacturing, the sector experienced positive year-on-year movements in all of its subsectors during September of this year.

As per the data from the Cyprus statistical service, the biggest increases were recorded in the manufacturing of wood and products of wood and cork, bar the category furniture making (26.2 per cent); the manufacturing of basic metals and fabricated metal products (19.9 per cent); the manufacturing of rubber and plastic products (8.7 per cent) and the manufacturing of machinery and equipment, motor vehicles and other transport equipment (4.0 per cent).

The Cyprus Stock Exchange (CSE) ended Tuesday, November 2, with profits. This is the second day in a row this has happened.

The main Cyprus Stock Market Index was at 65.63 points by 13:21 during the day, reflecting an increase of 0.06 per cent over the previous day.

The FTSE / CySE 20 Index remained at 39.20 points. The total value of transactions came up to €8,404.50.

In terms of sub-indexes, the main index rose by 0.1 per cent, while the hotel, investment firms and alternative indexes remained stable.

The biggest investment interest was attracted by Bank of Cyprus Holdings (no change), CCC Tourist Enterprises (no change), Atlantic Insurance Company (no change) and LCP Holdings and Investments (+33.33 per cent).