02.09.2022
The retail trade value index rose by 11.4% in July 2022 compared to the corresponding month of the previous year, while the retail trade volume index increased by 1.5% year on year, according to a report released on Thursday by the Statistical Office of Cyprus (Cystat) .
The largest increase in value was observed in the retail trade of fuel for gas stations, with an increase of 26 percent since July 2021. This is followed by textiles, clothing and footwear with a growth of 13.8%, as well as electrical goods, household appliances, furniture, lighting and building materials with a growth of 12.4%. Conversely, gas station fuel sales experienced the largest decline in volume, with a 14.4% decline recorded in July 2022 compared to July 2021.
The largest growth in physical terms was recorded in sales of textiles, clothing and footwear – 11.5%. The cost index is estimated to have increased by 11.9% between January and July 2022, with the largest change recorded in retail fuel for gas stations, which grew by 37.5% year on year. Over the same period, the volume index recorded an increase of 2.3% compared to the corresponding period in 2021, with the largest increase recorded in textiles, clothing and footwear, at 21.6%.
The growth rate of the Cypriot economy in the second quarter of 2022 is estimated to have reached 5.8% compared to the corresponding quarter of 2021, according to a report published on Thursday by the Statistical Office of Cyprus (Cystat). In addition, after adjusting GDP for seasonality and working days, the growth rate is estimated at 6.1%.
According to the report, positive GDP growth rates are primarily associated with high activity in a number of sectors. These include hotels and restaurants, transport and warehousing, information and communications, wholesale and retail, auto repair, and the arts and entertainment sector.
The Cyprus Stock Exchange (CSE) ended Thursday, September 1st with a profit.
The overall Cypriot stock market index stood at 73.38 points at 13:13 during the day, reflecting an increase of 0.66% from the previous trading day.
The FTSE/CySE 20 Index stood at 44.00 points, up 0.64%.
The total transaction value was 39,963 euros.
For sub-indices, the main, alternative and hotel indices rose by 0.77%, 0.09% and 1.03%, respectively. The investment companies index remained stable.
Bank of Cyprus (+2.39%) and Constantinou Bros hotels (+10%) attracted the greatest investment interest.
