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According to the results of the Wholesale and Retail Trade Survey, the main figures in the commercial sector in 2021 recorded a strong positive growth rate compared to 2020.
Specifically, turnover in the broader commercial sector increased in 2021 by 15.2% to €14.598.3 million compared to €12,673.7 million in 2020.051.5 million and in retail trade by 10.4% to €6,511.1 million.
The sector's production value reached €3,918.9 million in 2021, an increase of 20.2% compared to 2020.
In the commercial sector as a whole, value added at current prices increased by 21.4% to €2,517.2 million in 2021 from €2.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 sector increased in 2021 by 1.9% to 73.5 thousand from 72.1 thousand in 2020. 9.1 thousand people were employed in trade and repair of motor vehicles and motorcycles, 25.0 thousand in wholesale and 39.3 thousand in retail.
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Table |
[TR] [TD]
Economic Activity
[/TD] [TD]Cycle Business
[/TD] [/TD] [TD]
Value Added at Current Prices
[/TD] [TD]Employment
[/TD] [/TR] [TR] [TD]€m.
[/TD] [TD]%*
[/TD] [TD]€m.
[/TD] [TD]%*
[/TD] [TD]Number
[/TD] [TD]%*
[/TD] [/TR] [TR] [TD]Wholesale and retail trade, repair of motor vehicles and motorcycles
[/TD] [TD]14.598.3
[/TD] [TD]15.2
[/TD] [TD]2,517.2
[/TD] [TD]21.4
[/TD] [TD]73.496
[/TD] [TD]1.9
[/TD] [/TR] [TR] [TD]Wholesale and retail trade and repair of motor vehicles and motorcycles
[/TD] [TD]1.035,7
[/TD] [TD]14,3
[/TD] [TD]218,6
[/TD] [TD]16,6
[/TD] [TD]9.124
[/TD] [TD]3.5
[/TD] [/TR] [TR] [TD]Wholesale trade,
except of motor vehicles and motorcycles
7,051.5
[/TD] [TD]20.1
[/TD] [TD]1.185.1
[/TD] [TD]28.5
[/TD] [TD]25,030
[/TD] [TD]1.6
[/TD] [/TR] [TR] [TD]Retail Trade,
except Motor Vehicles and Motorcycles
6.511.1
[/TD] [TD]10.4
[/TD] [TD]1,113.5
[/TD] [TD]15.6
[/TD] [TD]39.342
[/TD] [TD]1.7
[/TD] [/TR] [TR] [TD]* Annual percentage change in 2021 compared to 2020.
[/TD] [TD] [/TD] [TD] [/TD] [TD] [/TD] [/TR]
Methodological information
Definitions
Turnover - The total value of sales of goods and services, excluding VAT.
Production value - Obtained after adding to turnover other income and any changes in the value of stocks at the end of the year and deducting the value of goods purchased for resale.
Value added at current prices - Obtained after deducting from the production value the total expenditure on production costs, administrative costs and rents paid for buildings and machinery.
Employment - The total number of working owners and full-time and part-time employees during the year.
Coverage and data collection
The Wholesale and Retail Trade Survey covers a sample of approximately 2 410 enterprises whose main activity falls within Division G of the NACE Rev. 2 of the European Union's classification of economic activities NACE G, namely Classes 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).
Data collection by the Statistical Service is carried out by telephone interviews, by e-mail, by personal interviews in enterprises and by using administrative sources.
For more information, interested parties can visit the Statistical Service Portal, under Wholesale and Retail Trade Προκαθορισμένοι Tables (Excel) Methodological Information or contact Mrs. Constantia Sergidi, tel. tel.: ksergidi@cystat.mof.gov.cy
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Views & opinions expressed are those of the author and/or PIO
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