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Annual Change+4.5% in Value and +2.6% in Volume
The Retail Trade Turnover Value Index increased by 4.5% in May 2024 compared to the corresponding month of the previous year (Table 1). In the same month, the Retail Trade Business Cycle Volume Index increased by 2.6% compared to the same month last year (Table 2).
For the January-May 2024 period, the Value Index is estimated to have increased by 5.3% and the Volume Index by 4.2% compared to the same period in 2023.
|
Table 1 |
[TR] [TD]
[TD]
Code
(NACE Rev. 2)
[/TD] [TD]
Economic
Activity
[/TD] [TD]
Value IndexValue Index (2021=100)
[/TD] [TD][/TD] [TD] [TD]
Percentage Change
(%)
[/TD] [/TR] [TR] [TD]May
2024
[/TD] [TD]May
2024/2023
[/TD] [TD]Jan-May 2024/2023
[/TD] [/TD] [/TR] [TR] [TD]47.1
[/TD] [TD]Mainly food, beverages or tobacco in non-specialised stores (supermarkets)
[/TD] [TD]127,4
[/TD] [TD] [/TD] [TD]5.8
[/TD] [TD]6.2
[/TD] [/TD] [/TR] [TR] [TD]47.2
[/TD] [TD]Food, drinks and tobacco in specialised shops
[/TD] [TD]132,7
[/TD] [TD] [/TD] [TD]10,3
[/TD] [TD]7,9
[/TD] [/TR] [TR] [TD]47.3
[/TD] [TD]Fuel
[/TD] [TD]124,8
[/TD] [TD] [/TD] [TD]6,3
[/TD] [TD]3,6
[/TD] [/TR] [TR] [TD]47.4
[/TD] [TD]Information and communication systems equipment
[/TD] [TD]103,2
[/TD] [TD] [/TD] [TD]-4,0
[/TD] [TD]-3,8
[/TD] [/TD] [/TR] [TR] [TD]47.5
[/TD] [TD]Other household equipment (building materials, carpets, furniture, electrical appliances, fixtures)
[/TD] [/TD] [TD]117.5
[/TD] [TD] [/TD] [TD]-2.8
[/TD] [TD]1.9
[/TD] [/TD] [/TR] [TR] [TD]47.6
[/TD] [TD]Educational and recreational equipment (books, stationery, sports equipment, games)
[/TD] [/TD] [TD]99.1
[/TD] [TD] [/TD] [TD]-0.5
[/TD] [TD]6.3
[/TD] [/TD] [/TR] [TR] [TD]47.71+47.72
[/TD] [TD]Clothing and footwear
[/TD] [TD]136.1
[/TD] [TD] [/TD] [TD]4.8
[/TD] [TD]4.5
[/TD] [/TR] [TR] [TD]47.73+47.74
+47.75
[/TD] [TD]Pharmaceuticals and orthopaedic articles, cosmetics
[/TD] [TD]122.3
[/TD] [TD] [/TD] [TD]11.1
[/TD] [TD]9.2
[/TD] [/TR] [TR] [TD]47.76+47.77
+47.78+47.79
[/TD] [TD]Flowers, plants, watches, jewellery, optical goods and second-hand articles
[/TD] [TD]178,1
[/TD] [TD] [/TD] [TD]7,2
[/TD] [TD]12,0
[/TD] [/TD] [/TR] [TR] [TD]47.8+47.9
[/TD] [TD]Retail trade other than in stores
[/TD] [TD]84.9
[/TD] [TD] [/TD] [TD]-19.5
[/TD] [TD]-11.5
[/TD] [/TD] [/TR] [TR] [TD]47 excluding 47.3
[/TD] [TD]Retail trade, except of motor fuels
[/TD] [TD]127,2
[/TD] [TD] [/TD] [TD]4,3
[/TD] [TD]5,5
[/TD] [/TR] [TR] [TD]47.11+47.2
[/TD] [TD]Edible species
[/TD] [TD]128,7
[/TD] [TD][/TD] [TD]
6,4
[/TD] [TD]6,6
[/TD] [/TR] [TR] [TR] [TD]47.19+47.4 to 47.9
[/TD] [TD]Non-edible species
[/TD] [TD]125.6
[/TD] [TD] [/TD] [TD]1.9
[/TD] [TD]4,2
[/TD] [/TR] [TR] [TD]
47
[/TD] [TD]RETAIL TRADE, EXCLUDING MOTOR VEHICLES
[/TD] [TD]127,0
[/TD] [TD][/TD] [TD]
4,5
[/TD] [TD]5,3
[/TD] [/TR]
| Table 2 |
[TR] [TD]
Code
(NACE Rev. 2)
[/TD] [TD]
Economic
Activity
[/TD] [TD]
Volume IndexVolume Index (2021=100)
[/TD] [TD][/TD] [TD] [TD]
Percentage change
(%)
[/TD] [/TR] [TR] [TD]May
2024
[/TD] [TD]May
2024/2023
[/TD] [TD]Jan-May 2024/2023
[/TD] [/TD] [/TR] [TR] [TD]47.1
[/TD] [TD]Mainly food, beverages or tobacco in non-specialised stores (supermarkets)
[/TD] [TD]109,4
[/TD] [TD] [/TD] [TD]4,4
[/TD] [TD]4,5
[/TD] [/TD] [/TR] [TR] [TD]47.2
[/TD] [TD]Food, drinks and tobacco in specialised shops
[/TD] [TD]110,8
[/TD] [TD] [/TD] [TD]8,7
[/TD] [TD]5,7
[/TD] [/TR] [TR] [TR] [TD]47.3
[/TD] [TD]Fuel
[/TD] [TD]99,5
[/TD] [TD] [/TD] [TD]-4,3
[/TD] [TD]1,9
[/TD] [/TD] [/TR] [TR] [TD]47.4
[/TD] [TD]Information and communication systems equipment
[/TD] [TD]110,9
[/TD] [TD] [/TD] [TD]0,1
[/TD] [TD]0,4
[/TD] [/TD] [/TR] [TR] [TD]47.5
[/TD] [TD]Other household equipment (building materials, carpets, furniture, electrical appliances, lamps)
[/TD] [/TD] [TD]104.8
[/TD] [TD] [/TD] [TD]-1.4
[/TD] [TD]4.0
[/TD] [/TD] [/TR] [TR] [TD]47.6
[/TD] [TD]Educational and recreational equipment (books, stationery, sports equipment, games)
[/TD] [/TD] [TD]90.9
[/TD] [TD] [/TD] [TD]-0.6
[/TD] [TD]6.2
[/TD] [/TR] [TR] [TD]47.71+47.72
[/TD] [TD]Clothing and footwear
[/TD] [TD]125.7
[/TD] [TD] [/TD] [TD]4.2
[/TD] [TD]3.6
[/TD] [/TR] [TR] [TD]47.73+47.74
+47.75
[/TD] [TD]Pharmaceuticals and orthopaedic articles, cosmetics
[/TD] [TD]115.3
[/TD] [TD] [/TD] [TD]9.0
[/TD] [TD]7.1
[/TD] [/TR] [TR] [TD]47.76+47.77
+47.78+47.79
[/TD] [TD]Flowers, plants, watches, jewellery, optical and second-hand articles
[/TD] [TD]154,1
[/TD] [TD] [/TD] [TD]3,7
[/TD] [TD]8,6
[/TD] [/TR] [TR] [TD]47.8+47.9
[/TD] [TD]Retail trade other than in stores
[/TD] [TD]78.5
[/TD] [TD] [/TD] [TD]-19.9
[/TD] [TD]-12.1
[/TD] [/TR] [TR] [TD]47 excluding 47.3
[/TD] [TD]Retail trade, except of motor fuels
[/TD] [TD]112,4
[/TD] [TD] [/TD] [TD]3,4
[/TD] [TD]4,5
[/TD] [/TR] [TR] [TD]47.11+47.2
[/TD] [TD]Edible species
[/TD] [TD]110,1
[/TD] [TD][/TD] [TD]
5,0
[/TD] [TD]4,8
[/TD] [/TR] [TR] [TD]47.19+47.4 to 47.9
[/TD] [TD]Non-edible species
[/TD] [TD]114.9
[/TD] [TD] [/TD] [TD]1,7
[/TD] [TD]4,1
[/TD] [/TR] [TR] [TD]47
[/TD] [TD]RETAIL TRADE, EXCLUDING MOTOR VEHICLES
[/TD] [/TD] [TD]111.0
[/TD] [TD] [/TD] [TD]2.6
[/TD] [TD]4,2
[/TD] [/TR] [/TR]
Methodological Information
Purpose and Coverage
The purpose of the Retail Trade Turnover Index excluding Motor Vehicles is to monitor short-term developments in the retail trade. It covers the activities of division 47 of the statistical classification of economic activities NACE Rev. 2 of the European Union. Turnover includes the sales of goods and services of the enterprise during the reference period, excluding VAT and including duties and taxes.
Data collection
Data are collected monthly by the Statistical Office, either by telephone interviews, fax or e-mail.
Calculation Method and Publication Practices
The Index has a base year of 2021, i.e. it shows the monthly change in turnover compared to the monthly average turnover in 2021. In the base year, the average of the Turnover Index for the twelve months is 100.0. For example, if the Index for a given month is 105.3 this means that turnover for that month increased by 5.3% relative to the average monthly turnover in 2021.
The Index of Turnover Value refers to current market prices, while the Index of Turnover Volume refers to constant prices and is obtained by deflating the Index of Turnover Value using the Consumer Price Index (CPI) as the deflator.
To compile the total index, the weighted average of the individual indices is calculated for the different classes (subsets of activities) of retail trade as defined in the NACE Rev. 2 classification. The coefficients used for the weighting are derived from the results of the annual Wholesale and Retail Trade Survey in the base year (2021) and reflect the share of turnover of each class in relation to total retail trade turnover.
The index is compiled in the context of the implementation of Regulation (EU) 2019/2152 on European business statistics. The Index sent each month to the Statistical Office of the European Union (Eurostat) includes its corrected form (seasonal and calendar correction). Only the uncorrected version is published on the website of the Statistical Office.
For more information, interested parties can visit the Statistical Office Portal, under Trade, Update on Base Year Change, CYSTAT-DB (Database), Predefined Tables (Excel) or contact Ms. Evangelia Efstathiou at 22602196 or eefstathiou@cystat.mof.gov.cy.
Data for the base year 2021=100 are available only in the CYSTAT-DB Database.
Contents of this article including associated images are owned by PIO
Views & opinions expressed are those of the author and/or PIO
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