The value of turnover in the retail trade rose in 2017 by 5.2%, exceeding the rate at which the economy expanded as almost half of the loans in the banking system remain unserviced, the statistical service said.
In terms of volume, the retail trade companies saw their turnover increase 6.2% in 2017, Cystat said in a statement on its website on Monday.
The retail trade indicator rose last year to 96.4 units in terms of value which is 4.6% below that of 2010 which is the basis for comparison, Cystat said. In terms of volume it was 0.7% below that of 2010. The above data exclude motor vehicles.
Last year, the economy expanded 3.9% according to Cystat’s February 14, flash estimate. Consumer prices fell last year 0.6%.
In December, the value of retail trade turnover rose 3.1% compared to the respective month of 2016, Cystat said citing a preliminary estimate. In terms of volume it rose also a preliminary 7.2%.
Source: Cyprus Mail
