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According to the results of the Wholesale and Retail Trade Survey, the main aggregates of the trade sector in 2021 registered a strong positive growth rate compared to 2020.

In particular, turnover in the broad trade sector increased in 2021 by 15,2% to €14.598,3 million compared to €12.673,7 million in 2020. 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 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.

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.

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 2.410 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 using administrative sources.

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

(AP/SCH)