Results οf the Wholesale and Retail Trade Survey 2023
From:
According to the results of the Wholesale and Retail Trade Survey, the main aggregates of the trade sector in 2023 registered a positive growth rate compared to 2022, except for value added at current prices, which showed negative growth rate mainly due to the decline in fuel prices.
In particular, turnover in the broad trade sector increased in 2023 by 5,7% to €19.341,2 million, compared to €18.306,9 million in 2022. At division level, in wholesale and retail trade and repair of motor vehicles and motorcycles turnover increased by 25,4% to €1.530,9 million, in wholesale trade by 0,7% to €9.825,9 million, and in retail trade by 9,0% to €7.984,4 million.
Production value in 2023 reached €5.407,7 million, registering an increase of 2,7% over 2022.
In the whole of the trade sector, value added at current prices decreased by 2,2% to €3.416,4 million in 2023, compared to €3.494,2 million in 2022. In wholesale and retail trade and repair of motor vehicles and motorcycles, value added increased by 19,3% to €314,3 million, in wholesale trade decreased by 13,4% to €1.746,2 million, and in retail trade increased by 11,6% to €1.355,9 million.
Employment in the trade sector increased in 2023 by 2,1% to 77,5 thousand, compared to 75,8 thousand in 2022. In wholesale and retail trade and repair of motor vehicles and motorcycles, employment reached 9,6 thousand persons, in wholesale trade 26,5 thousand persons, and in retail trade 41,4 thousand persons.
| Table | |||||||
| NACE Rev. 2 | Economic Activity | Main Aggregates 2023 | |||||
| Turnover | Value Added at Current Prices | Employment | |||||
| €mn | %* | €mn | %* | Number | %* | ||
| G | Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles | 19.341,2 | 5,7 | 3.416,4 | -2,2 | 77.463 | 2,1 |
| 45 | Wholesale and Retail Trade and Repair of Motor Vehicles and Motorcycles | 1.530,9 | 25,4 | 314,3 | 19,3 | 9.577 | 3,1 |
| 46 | Wholesale Trade, except of Motor Vehicles and Motorcycles | 9.825,9 | 0,7 | 1.746,2 | -13,4 | 26.514 | 2,7 |
| 47 | Retail Trade, except of Motor Vehicles and Motorcycles | 7.984,4 | 9,0 | 1.355,9 | 11,6 | 41.372 | 1,6 |
| * Annual percentage change of 2023 compared to 2022. | |||||||
Methodological Information
Definitions
Turnover – Consists of all income arising during the reference period in the course of ordinary activities of an enterprise, and is presented net of all price reductions, discounts, and rebates granted by it.
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 employees and self-employed persons.
Coverage and Collection of Data
The Wholesale and Retail Trade Survey covers a sample of 2.285 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 email, using administrative sources, by personal interviews and by phone interviews.
For more information, visit CYSTAT Portal, subtheme Wholesale and Retail Trade, Predefined Tables (Excel), Methodological Information, or contact Ms Constantia Sergidi at 22602237 or via email: ksergidi@cystat.mof.gov.cy.
(GS/NZ)