Wholesale trade value index declines by 5.6%

The Turnover Value Index of Wholesale Trade except of Motor Vehicles for the first quarter of 2021 recorded a decrease of 5.6% compared to the corresponding quarter of previous year, as the effects of the Covid pandemic continue to hamper economic activity.

According to data released by the Statistical Service of Cyprus (Cystat), the index declined to 109.2 units, pushed downwards mainly by Wholesale of food, beverages and tobacco which declined by 6.5%, Other specialized wholesale with -16.2% year one year and Wholesale of household goods with -1.1% year on year. This is the fourth consecutive quarterly decline since the first quarter of 2020.

However, including the repair of motor vehicles, the Turnover Value Index of Wholesale and Retail Trade in the first quarter of 2021 marked an annual increase of 1.4%, reaching 115.9 units.

The index was mainly pushed upwards by the activities associated with the sale of motor vehicles which rose by 3.3% year on year and the sale, maintenance and repair of motorcycles and related parts and accessories which rose by an annual 38.5%, Cystat added.