Cyprus Trade Sector Expands In 2024 As Turnover, Value Added And Employment Increase

Cyprus’ wholesale and retail trade sector recorded broad-based growth in 2024, with turnover, production value, value added and employment all increasing compared with the previous year, according to figures released by the Statistical Service of Cyprus (Cystat).

Turnover Strengthens Across The Sector

Total turnover in the trade sector rose 5.0% year on year to €20.30 billion in 2024, up from €19.34 billion in 2023.

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The strongest growth was recorded in wholesale and retail trade and the repair of motor vehicles and motorcycles, where turnover increased 8.6% to €1.66 billion. Wholesale trade generated €10.24 billion in turnover, up 4.2% from a year earlier, while retail trade rose 5.3% to €8.41 billion.

Production Value And Added Value Rise

Production value increased 6.3% to €5.75 billion in 2024, while value added at current prices also climbed 6.3%, reaching €3.63 billion compared with €3.42 billion in 2023.

Across the sector’s main divisions, value added in wholesale and retail trade and the repair of motor vehicles and motorcycles rose 9.3% to €343.4 million. Wholesale trade recorded a 3.8% increase to €1.81 billion, while retail trade posted an 8.9% rise to €1.48 billion.

Employment Continues To Grow

Employment also expanded during the year, rising 1.0% to 78,300 people from 77,500 in 2023.

Retail trade remained the largest employer, with 41,500 people working in the sector. Wholesale trade accounted for 27,000 jobs, while wholesale and retail trade and the repair of motor vehicles and motorcycles employed a further 9,800 people.

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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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