Press Releases

According to the results of the wholesale and retail trade survey, the main aggregates of the trade sector in 2020 registered a negative growth rate compared to 2019.

In particular, turnover in the broad trade sector decreased in 2020 by 4,8% to €12.673,7 million compared to €13.319,4 million in 2019. At division level, in wholesale and retail trade and repair of motor vehicles and motorcycles turnover decreased by 7,5% to €906,3 million, in wholesale trade by 5,8% to €5.872,2 million and in retail trade by 3,4% to €5.895,2 million.

Production value in 2020 reached €3.260,0 million, registering a decrease of 4,3% over 2019.

In the whole of the trade sector, value added at current prices decreased by 2,2% to €2.072,7 million in 2020 compared to €2.118,3 million in 2019. In wholesale and retail trade and repair of motor vehicles and motorcycles, value added decreased by 3,9% to €187,4 million, in wholesale trade increased by 0,2% to €922,0 million and in retail trade decreased by 3,9% to €963,3 million.

Employment in the trade sector decreased in 2020 by 2,0% to 72,1 thousand compared to 73,6 thousand in 2019. In wholesale and retail trade and repair of motor vehicles and motorcycles employment reached 8,8 thousand, in wholesale trade 24,6 thousand and in retail trade 38,7 thousand persons. 

Methodological information

Definitions

Turnover – The total value of the sales of goods and services, excluding VAT.

Production value – Derived by adding on turnover other income and changes in the value of stocks at the end of the year and deducting the cost of goods purchased for resale.

Value added at current prices - Derived by deducting from the production value the total cost of production expenses, administrative expenses and rents paid for buildings and machinery.

Employment – The total number of working proprietors and full-time and part-time employees during the year.

Coverage and collection of data

The Wholesale and Retail Trade Survey covers a sample of around 2.320 enterprises with main activity falling under section G of the classification system of economic activities NACE Rev. 2 of the European Union, in particular divisions 45 (wholesale and retail trade and repair of motor vehicles and motorcycles), 46 (wholesale trade, except of motor vehicles and motorcycles) and 47 (retail trade, except of motor vehicles and motorcycles).

The collection of data by the Statistical Service is done by phone interviews, by email, by personal interviews and by the use of administrative sources.

For more information visit theCYSTAT Portal, subtheme Wholesale and Retail Trade Predefined Tables (Excel) Methodological Information or contact Ms Constantia Sergidi, tel: +35722602237, email: ksergidi@cystat.mof.gov.cy

(EK/IK)