Volume of retail trade in Cyprus up by 1.1% in January compared to December, according to Eurostat estimates

In January 2023, the seasonally adjusted volume of retail trade increased by 1.1 per cent in Cyprus and by 0.3 per cent in both the euro area and the EU, compared with December 2022, according to estimates from Eurostat, the statistical office of the European Union.

In December 2022, the retail trade volume had decreased by 0.2 per cent in Cyprus, by 1.7 per cent in the euro area and by 1.6 per cent in the EU.

In January 2023 compared with January 2022, the calendar adjusted retail sales index increased by 4.9 per cent in Cyprus, and decreased by 2.3 per cent in the euro area and by 2.2 per cent in the EU

By retail sector, the volume of retail trade In the euro area in January 2023, compared with December 2022 (i.e. on monthly basis), increased by 1.8 per cent for food, drinks and tobacco and by 0.8 per cent for non-food products, while it decreased by 1.5 per cent for automotive fuels.

In the EU, the volume of retail trade increased by 1.8 per cent for food, drinks and tobacco and by 1.1 per cent for non-food products, while it decreased by 2.1 per cent for automotive fuels.

Among Member States for which data are available, the highest monthly increases in the total retail trade volume were registered in the Netherlands (+4.9 per cent), Luxembourg (+4.6 per cent) and Slovenia (+4.1 per cent). The largest decreases were observed in Austria (-9.8 per cent), Slovakia (-1.4 per cent) and Hungary (-0.6 per cent).

By retail sector on an annual basis, that is in January 2023 compared with January 2022, the volume of retail trade in the euro area decreased by 5.0 per cent for food, drinks and tobacco and by 1.0 per cent for non-food products, while it grew by 5.4 per cent for automotive fuels.

In the EU, the retail trade volume decreased by 4.7 per cent for food, drinks and tobacco and by 1.0 per cent for non-food products, while it grew by 5.6 per cent for automotive fuels.

Among Member States for which data are available, the largest yearly decreases in the total retail trade volume were registered in Belgium (-8.9 per cent), Germany (-6.8 per cent), Denmark and Sweden (both -5.8 per cent). The highest increases were observed in Slovenia (+18.5 per cent), Romania (+5.8 per cent) and Malta (+5.7 per cent).