Cyprus: Trade sector expanded by 6.5%

Cyprus: Trade sector expanded by 6.5%

According to the results of the Wholesale and Retail Trade Survey, the main aggregates of the trade sector in 2018 registered a positive growth rate compared to 2017.

In particular, turnover in the broad trade sector increased in 2018 by 6.5% to €13,021.2 million compared to €12,227.3 million in 2017. At division level, in wholesale and retail trade and repair of motor vehicles and motorcycles turnover increased by 5.3% to €960.1 million, in wholesale trade by 8.2% to €6.092,3 million and in retail trade by 5.0% to €5.968.8 million.

Production value in 2018 reached €3.239.0 million, registering a rise of 5.7% over 2017.

In the whole of the trade sector, value added at current prices increased by 5.6% to €2.007.2 million in 2018 compared to €1.900.4 million in 2017. In wholesale and retail trade and repair of motor vehicles and motorcycles, value added increased by 4.1% to €186.9 million, in wholesale trade by 7.3% to €864,3 million and in retail trade by 4.4% to €956.0 million.

Employment in the trade sector increased in 2018 by 4.7% to 71.7 thousand compared to 68.5 thousand in 2017. In wholesale and retail trade and repair of motor vehicles and motorcycles employment reached 8.5 thousand, in wholesale trade 24.0 thousand and in retail trade 39,2 thousand persons./ibna