Retail trade in Cyprus increased 3.5 percent year-on-year in November 2018, following a downwardly revised 1.8 percent growth in the previous month, due to sales of food (1.8 percent vs 1.6 percent in October) and non-food products (7.2 percent vs 3.1 percent) such as computer equipment, books and other (14.7 percent vs 5.7 percent) and electrical goods and furniture (10 percent vs 6.7 percent). Meanwhile, sales of fuel continued to fall (-3.2 percent vs -2.7 percent). Retail Sales YoY in Cyprus averaged 0.50 percent from 2001 until 2018, reaching an all time high of 14.11 percent in February of 2008 and a record low of -32.96 percent in March of 2013.
Retail Sales YoY in Cyprus is expected to be 4.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales YoY in Cyprus to stand at 4.20 in 12 months time. In the long-term, the Cyprus Retail Sales YoY is projected to trend around 3.80 percent in 2020, according to our econometric models.