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In Cyprus, the largest increase in the volume of retail trade

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According to Eurostat estimates, Cyprus had the largest increase among EU member states, both on a monthly and annual basis

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An increase of 1.6% was recorded in February 2023 in the volume of retail trade in Cyprus compared to January, and an increase of 8.3% compared to February 2022, according to estimates published by Eurostat, the statistical service of the European Union. According to Eurostat's estimates, Cyprus had the largest increase among EU member states, both on a monthly and annual basis.

In the same month, seasonally adjusted retail trade volume fell by 0.8% in the euro area and by 0.9% in the EU compared to January, while it fell by 3.0% in the euro area and by 3.1% in the EU compared to February 2022.

In January 2023 the volume of retail trade had increased by 0.3% in Cyprus, by 0.8% in the eurozone and by 0 .9% in the EU compared to December 2022.

By sector, in February 2023 in the euro area the volume of retail trade decreased compared to the previous month by 1.8% for motor fuels, by 0.7% for non-food products and by 0.6% for food, beverages and tobacco.

In the EU over the same period, retail trade volumes fell by 1.4% for motor fuels, by 1.0% for non-food products and by 0.6% for food, drinks and tobacco.

Among the Member States for which data were available, the largest monthly decreases were recorded in Slovenia (-10.5%), Hungary and Poland (-2.0% both) and Sweden (-1, 6%).

The biggest increases were recorded in Cyprus (+1.6%), Luxembourg (+0.8%) and Belgium (+0.7%) ).

Compared to the previous year, the volume of retail trade in the euro area decreased by 4.9% for food, drinks and tobacco and by 1.8% for non-food products, while it increased by 1.1% for motor fuels.

In the EU over the same period, retail trade volume fell by 4.9% in food, beverages and tobacco and by 1.9% for non-food products, while it increased by 0.1% for motor fuels.

Among the Member States for which data were available, the largest year-on-year decreases were recorded in Hungary (-10.1%), Sweden (-8.5%) and Germany (-7.0%).

The larger increases were recorded in Cyprus (+8.3%), Luxembourg (+6.8%) and Spain (+4.7%).

Source: www.kathimerini.com.cy

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