Retail Trade Cycle And Volume Indicators Recorded An Annual Increase

by THEFUTURE.TEAM

February 4, 2025

The retail sector in Cyprus continued its upward trajectory in 2024, with both turnover value and volume registering solid gains. According to the latest data from CySTAT, the Turnover Value Index of Retail Trade for December 2024 increased by 5.8% compared to the same month in 2023, reflecting a strong performance during the crucial holiday shopping season.

At the same time, the Turnover Volume Index of Retail Trade—which measures the actual quantity of goods sold—grew by 3.6% year-over-year, signaling sustained consumer demand despite economic fluctuations.

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Full-Year Performance: Consistent Growth In Value And Volume

For the entire January-December 2024 period, the Value Index recorded an estimated 5.4% increase compared to 2023, while the Volume Index rose by 4.3%. These figures suggest a healthy expansion in the country’s retail sector, supported by steady consumer spending and an improving economic landscape.

December’s growth aligns with broader annual trends, reinforcing the resilience of Cyprus’ retail market. While rising costs and global economic uncertainties have impacted various sectors, retail businesses in Cyprus have maintained a strong performance, benefiting from increased purchasing power and evolving consumer habits.

As 2025 unfolds, the sector’s ability to sustain this momentum will depend on factors such as inflation trends, wage growth, and broader economic stability. For now, Cyprus’ retail industry remains on solid footing, demonstrating consistent expansion across both value and volume metrics.

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Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

July 24, 2026

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

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Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

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