Cyprus Retail Trade Expands in November 2025 Amid Robust Consumer Demand

by THEFUTURE.TEAM

January 6, 2026

Robust Trading Indices Reflect Strong Consumer Confidence

Cyprus experienced a marked expansion in its retail sector in November 2025, buoyed by resilient consumer demand across multiple categories. According to the Statistical Service, the Turnover Value Index for retail trade—excluding motor vehicles—climbed by 4.6% compared with November 2024, while the Turnover Volume Index surged by 7.6%.

Strong Growth Across Key Categories

When using 2021 as the base year, the aggregated value index reached 145.4, and the volume index attained 132.1. Over the January–November period, the sector recorded cumulative growth of 6.2% in value and 7.8% in volume compared to the same period in the previous year. In particular, specialised stores for food, beverages, and tobacco showed an impressive annual performance, with indices rising 17.4% for value and 22.5% for volume. Supermarkets also demonstrated steady progress, with a 5.3% increase in value and an 8% rise in volume.

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Notable Advances in Apparel and Technology

Other segments, including clothing and footwear, posted solid gains—with value up by 4.8% and volume expanding 14.1%—while information and communication equipment saw a notable growth of 6.0% in value and 15.2% in volume. Moderately expanding sectors included household equipment and construction materials, which recorded growth of 4.3% in value and 6.2% in volume.

Sectoral Challenges and Declines

Certain segments, however, faced downward pressure. Cultural and recreation goods declined slightly, with a 1.3% drop in value accompanied by a 1.5% slip in volume. Similarly, retail sales not in stores, including online and mail-order trade, contracted sharply by 13.7% in value and 12% in volume—although they remained positive on a year-to-date basis. Automotive fuel sales also saw a reduction, with value decreasing by 5.8% and volume by 3.6%.

Aggregate Analysis and Methodological Insights

Broader aggregates excluding automotive fuel reveal that retail trade increased by 5.6% in value and 8.7% in volume. Edible goods recorded rises of 7.1% in value and 10.1% in volume, while non-edible goods grew 4.0% in value and 7.5% in volume. Cystat clarified that the Turnover Value Index is calculated at current prices, whereas the Turnover Volume Index is derived at constant prices using the Consumer Price Index as a deflator.

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Cyprus Moves To Unlock More Solar Power With First Large-Scale Battery Storage Contracts

by THEFUTURE.TEAM

June 23, 2026

Cyprus is preparing to sign the first contracts for large-scale electricity storage batteries on Tuesday, a project expected to improve the grid’s ability to manage growing renewable energy production and reduce the curtailment of solar power.

A Long-Awaited Grid Fix

Energy Minister Michalis Damianos said the agreements will cover 120MW of centralised storage capacity that will be managed by the transmission system operator. The project, valued at €50 million, is expected to deliver the batteries in January 2027, with installation scheduled to take place over the following two to three months.

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According to Damianos, the system should become operational by the summer of 2027, a period when both electricity demand and solar generation typically peak. He said the storage facilities will allow energy currently lost due to a lack of storage capacity to be retained and used when needed.

Why Storage Has Become Essential

The batteries are designed to absorb excess renewable electricity during periods of overproduction and release it back into the system when demand increases. Their introduction is expected to reduce the curtailments currently affecting solar generators and improve the use of renewable energy already being produced across the island.

Former Energy Minister George Papanastasiou told Sigma that planning for the project began in 2023 in cooperation with the European Commission. The objective was to address growing losses from renewable energy generation that the electricity network cannot currently absorb.

By the end of May 2026, approximately 160,000 megawatt hours of renewable energy had been lost through curtailments affecting residential photovoltaic systems, commercial solar parks, and wind installations. According to Papanastasiou, renewable electricity production exceeds demand during several hours of the day, leaving part of the output unable to be utilised.

The Cost Of Growing Faster Than The Grid

The challenge has become more pronounced as renewable generation capacity has expanded faster than the infrastructure required to manage surplus electricity. Data from the distribution system operator show that around 306 gigawatt hours of renewable energy were curtailed in 2025, compared with approximately 167 gigawatt hours a year earlier.

Papanastasiou acknowledged criticism that storage deployment has not kept pace with the growth of renewable energy projects, although he noted that regulatory and financing challenges slowed implementation. He added that the development of storage and generation capacity needs to progress in parallel, a challenge faced by many energy markets.

Private Capital Is Also Entering The Market

The state-backed battery installation forms part of a broader expansion of energy storage capacity across Cyprus. Alongside the project managed by the transmission system operator, the Electricity Authority of Cyprus (EAC) and private developers are advancing their own investments.

Current figures show 36 applications for battery storage projects with a combined requested capacity of approximately 925MW. The EAC has submitted applications for storage facilities in Dhekelia and Moni with a combined capacity of 180MW, while private-sector projects exceeding 150MW have progressed through various stages of the approval process.

Grid Stability Comes First

According to Papanastasiou, the state-owned battery system will primarily serve grid stability and energy security objectives rather than operate as a commercial trading asset. The facilities will store electricity during periods of surplus generation and release it when demand rises or when supply pressures emerge.

Privately operated storage projects could also contribute to the market by storing lower-cost renewable electricity and dispatching it later when demand and prices are higher.

As renewable energy continues to account for a larger share of Cyprus’ electricity mix, storage infrastructure is expected to play an increasingly important role in balancing supply and demand, reducing curtailments, and improving the overall efficiency of the power system.

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