Business & Finance

Cyprus Retail Sector Grows Fastest in the European Union

Eurostat data show Cyprus outpacing the EU and euro area, with annual growth of 8.5% in September.

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POLITIS NEWS

Cyprus recorded the highest annual increase in retail trade turnover among EU countries for another month. September’s growth reached 8.5%, easing from 9.4% in August.

Cyprus versus EU and euro area

Across the EU, retail turnover rose 1.3% year on year in September (down from 1.6% in August). In the euro area, growth was 1.0% (down from 1.6% in August).

The strongest annual increases were in Cyprus (+8.5%), Malta (+6.6%) and Bulgaria (+5.7%). Declines were reported in Italy (-2.3%), Romania (-2.1%), Belgium (-0.8%) and Austria (-0.1%).

The largest monthly drops in retail volume came in Lithuania (-1.1%), Latvia and Slovenia (both -0.7%), and Italy (-0.6%). The biggest monthly gains were in Luxembourg and Malta (both +1.7%), Estonia (+1.5%) and Slovakia (+1.4%).

 

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