TECHNOLOGY: Some 7% of EU business turnover is from web sales but 3% in Cyprus

When it comes to e-commerce Cyprus business is lagging behind most of Europe with web sales below the EU average at only 3% turnover putting it among the bottom four.

In 2017, one out of every five EU enterprises made sales using computer networks such as the Internet or other forms of electronic data exchange.

These electronic sales accounted for 17 % of total turnover. Within the electronic sales, 7% of total turnover came from web sales this figure was 3% in Cyprus.

Most of these web sales were made through the enterprises’ own websites or apps (6 % of total turnover) and the remaining web sales (1 % of total turnover) were via e-commerce marketplaces available on external websites or apps.

Among the EU Member States, the highest percentages of turnover realized through web sales were in Belgium and Ireland (both 15 %). The Member States with the lowest proportion of total turnover from web sales were Bulgaria and Slovenia (both 2 %).

Ireland had the highest proportion of web sales via e-commerce marketplaces (3 %), Cyprus was about 1%.

Source: The Financial Mirror