In January 2023, the seasonally adjusted volume of retail trade increased by 1.1% in Cyprus and by 0.3% 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% in Cyprus, by 1.7% in the euro area and by 1.6% in the EU. In January 2023 compared with January 2022, the calendar adjusted retail sales index increased by 4.9% in Cyprus, and decreased by 2.3% in the euro area and by 2.2% 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% for food, drinks and tobacco and by 0.8% for non-food products, while it decreased by 1.5% for automotive fuels. In the EU, the volume of retail trade increased by 1.8% for food, drinks and tobacco and by 1.1% for non-food products, while it decreased by 2.1% 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%), Luxembourg (+4.6%) and Slovenia (+4.1%). The largest decreases were observed in Austria (-9.8%), Slovakia (-1.4%) and Hungary (-0.6%). 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% for food, drinks and tobacco and by 1.0% for non-food products, while it grew by 5.4% for automotive fuels. In the EU, the retail trade volume decreased by 4.7% for food, drinks and tobacco and by 1.0% for non-food products, while it grew by 5.6% 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%), Germany (-6.8%), Denmark and Sweden (both -5.8%). The highest increases were observed in Slovenia (+18.5%), Romania (+5.8%) and Malta (+5.7%).
Source: Cyprus News Agency