Press Releases

According to the results of the Wholesale and Retail Trade Survey, the main aggregates of the trade sector registered in 2017 a positive growth rate compared to 2016.

In particular, turnover in the broad trade sector increased in 2017 by 7,9% to €12.227,3 million compared to €11.337,1 million in 2016. At division level, in wholesale and retail trade and repair of motor vehicles and motorcycles turnover increased by 8,3% to €911,6 million, in wholesale trade by 10,4% to €5.629,6 million and in retail trade by 5,4% to €5.686,1 million.

Production value in 2017 reached €3.063,2 million, registering a rise of 8,7% over 2016.

In the whole of the trade sector, value added at current prices increased by 8,8% to €1.900,4 million in 2017 compared to €1.745,9 million in 2016. In wholesale and retail trade and repair of motor vehicles and motorcycles, value added increased by 8,9% to €179,6 million, in wholesale trade by 8,2% to €805,5 million and in retail trade by 9,4% to €915,3 million.

Employment in the trade sector increased in 2017 by 6,0% to 68,5 thousand compared to 64,6 thousand in 2016. In wholesale and retail trade and repair of motor vehicles and motorcycles employment reached 8,2 thousand, in wholesale trade 22,5 thousand and in retail trade 37,8 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 - 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 2.200 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 for motor vehicles and motorcycles).

The collection of data by the Statistical Service is done by personal interview with the use of a special questionnaire.

For more information, visit the Statistical Service (CYSTAT) website, subtheme Wholesale and Retail Trade or contact Ms Constantia Sergidi: tel:+35722602237, email: ksergidi@cystat.mof.gov.cy.

(EK/II)