NICOSIA: Retail trade in November 2024 experienced notable growth, with a 7.2% increase in value and a 6.3% rise in volume compared to the same month last year. These figures were released by the Statistical Service, highlighting a robust performance in various retail sectors.
According to Cyprus News Agency, cultural and recreation goods, as well as clothing and footwear, led the surge in retail trade value, each recording a 12.3% increase. Food, beverages, and tobacco sales in supermarkets also saw a significant rise, increasing by 11.7%. Conversely, retail sales not conducted in physical stores suffered a decline, with a 5.1% drop in value.
In terms of volume, clothing and footwear experienced a 14.1% increase, while cultural and recreation goods saw a 10.2% rise. However, similar to value trends, retail sales not in stores recorded the largest decline, decreasing by 5.2% in volume.
For the cumulative period from January to November 2024, the Value Index rose by 5.4%, and the Volume Index increased by 4.3% compared to the same timeframe in 2023. These trends underscore a steady upward trajectory in the retail sector over the past year.