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.








