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.