Retail and wholesale trade turnover rose by 15.2%

The turnover in retail and wholesale trade in Cyprus amounted to €14.6 billion in 2021 marking an increase of 15.2% compared with the corresponding period of 2020, a year marked by strict Covid-19 restrictions.

According to the results of the Wholesale and Retail Trade Survey, compiled by Cyprus Statistical Service (Cystat), at division level, in wholesale and retail trade and repair of motor vehicles and motorcycles turnover increased by 14.3% to €1,035.7 million, in wholesale trade by 20.1% to €7,051.5 million and in retail trade by 10.4% to €6,511.1 million.

Production value in 2021 reached €3,918,9 million, registering an increase of 20.2% over 2020.

In the whole of the trade sector, value added at current prices (after deducting from the production value the total cost of production expenses, administrative expenses and rents paid for buildings and machinery) increased by 21.4% to €2.517.2 million in 2021 compared to €2,072.7 million in 2020.

In wholesale and retail trade and repair of motor vehicles and motorcycles, value added increased by 16.6% to €218.6 million, in wholesale trade increased by 28.5% to €1.185.1 million and in retail trade increased by 15.6% to €1.113.5 million.

Furthermore, employment in the trade sector increased in 2021 by 1.9% to 73,5 thousand compared to 72,1 thousand in 2020. In wholesale and retail trade and repair of motor vehicles and motorcycles employment reached 9,1 thousand, in wholesale trade 25,0 thousand and in retail trade 39,3 thousand persons, Cystat said.