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Retail Trade Experiences Significant Growth in November 2024

NICOSIA: Retail trade in November 2024 saw notable growth, with a 7.2% increase in value and a 6.3% rise in volume compared to the same month in the previous year. This information was released by the Statistical Service, reflecting positive trends in various retail sectors.

According to Cyprus News Agency, the most substantial increases in value were observed in the sectors of cultural and recreation goods, which include books, stationery, sports equipment, and toys, as well as in clothing and footwear, both showing a rise of 12.3%. Supermarkets selling food, beverages, and tobacco also experienced a significant growth of 11.7%. However, the retail sale not in stores saw a decline, with a 5.1% drop in value.

In terms of volume, clothing and footwear led with a 14.1% increase, followed by cultural and recreation goods, which rose by 10.2%. Similar to the value index, retail sales not in stores experienced the largest decline in volume, dropping by 5.2%.

Over the period from January to November 2024, the overall Value Index recorded a 5.4% increase, while the Volume Index rose by 4.3% compared to the same period in 2023. These figures indicate a steady upward trajectory in retail trade performance throughout the year.