Volume of retail trade in Cyprus increased in November, decreased in EU

In November 2023, the seasonally adjusted volume of retail trade increased by 1.6% in Cyprus, and decreased by 0.3% in the eurozone and by 0.2% in the EU, compared with October 2023, according to estimates from Eurostat, the statistical office of the European Union.

In October 2023, the retail trade volume had remained stable in Cyprus compared to September, and had increased by 0.4% in the euro area and by 0.5% in the EU.

In November 2023 compared with November 2022, the calendar-adjusted retail sales index increased by 4.8% in Cyprus, decreased by 1.1% in the eurozone, and decreased by 1.0% in the EU.

Also read: Rise in value and volume of retail trade in November 2023

By retail sector, the volume of retail trade in the eurozone in November 2023 decreased by 0.4% for non-food products compared with October 2023, decreased by 0.1% for food, drinks and tobacco, while it increased by 1.4% for automotive fuels.

In the EU, the volume of retail trade decreased by 0.3% for non-food products and by 0.1% for food, drinks and tobacco, while it increased by 0.4% for automotive fuels.

Among Member States for which data are available, the largest monthly decreases in the total retail trade volume were registered in Germany (-2.5%), Luxembourg (-1.4%) and Austria (-0.7%). The highest increases were observed in Portugal (+3.1%), Croatia and Slovenia (both +3.0%), Malta and Romania (both +1.7%).

On an annual basis, in the eurozone the volume of retail trade decreased by 4.5% for automotive fuels in November 2023, compared with November 2022, decreased by 0.7% for food, drinks and tobacco and decreased by 0.2% for non-food products.

In the EU, the retail trade volume decreased by 5.0% for automotive fuels, by 0.5% for food, drinks and tobacco, and by 0.2% for non-food products.

Among Member States for which data are available, the largest yearly decreases in the total retail trade volume were registered in Slovenia (-11.1%), Estonia (-8.8%) and Hungary (-5.4%). The highest increases were observed in Spain (+6.8%), Croatia (+6.4%) and Denmark (+6.3%).

(Source: CNA)