Sharp increase in online business

Cypriot businesses recorded increases above the EU average in sales and services provided via the web in 2020, according to a new report by Eurostat.

Eurostat found that Cypriot businesses in 2020 recorded an increase of 23 per cent in online sales and services provided as opposed to the EU average of 12 per cent because of the pandemic restrictions.

The highest increases were recorded in Malta (32 per cent), in Cyprus (23 per cent) and in Portugal (21 per cent). The lowest increases were recorded in Germany (5 per cent).

Notably, Eurostat also found that performance in internet sales and provision of services was subject to a company’s existing share of internet sales and on the type of product or service provided.

The main businesses who recorded the highest increases were those active in the hospitality (25 per cent) sector while the lowest were those in the construction sector.