**Wholesale Trade Rises in Cyprus as Motor Vehicle Turnover Declines**
In the first quarter of 2026, Cyprus experienced a significant increase in wholesale trade turnover, while the motor vehicle sales and repair sector reported a decline in activity compared to the same period in the previous year. The Cyprus Statistical Service (Cystat) released data indicating that the turnover value index for wholesale trade, excluding motor vehicles, rose by 11.2% year-on-year, reaching 142.8 points.
The rise in wholesale trade was driven by notable increases across various categories. The segment classified as "other specialised wholesale" saw the most substantial growth, with a remarkable increase of 19%. This was closely followed by wholesale of household goods, which rose by 14.9%. Additionally, wholesale of information and communication equipment grew by 10.4%, while wholesale of other machinery, equipment, and supplies increased by 8.1%. Other categories also showed positive trends, with wholesale of food, beverages, and tobacco rising by 4.3%, and non-specialised wholesale trade increasing by 4.9%. The wholesale of agricultural raw materials and live animals recorded a modest increase of 0.8%.
However, not all segments of wholesale trade experienced growth. The category of wholesale on a fee or contract basis saw a significant decline of 18.5%, marking it as the only segment to report a decrease among those listed by Cystat.
In contrast, the motor vehicle sector faced challenges, with the overall turnover value index falling by 3.6% to 153 points. The decline was primarily attributed to a 9.4% decrease in the sale of motor vehicles, where the index reached 159.5 points. Despite this downturn, certain areas within the motor vehicle sector showed resilience. The maintenance and repair of motor vehicles increased by 3.4%, bringing the index to 143.1 points. Furthermore, sales of motor vehicle parts and accessories rose by 6.4%, reaching 149.3 points. The most notable growth within the motor vehicle division was seen in the sale, maintenance, and repair of motorcycles and related parts and accessories, which surged by 13.7%, with an index of 128.7 points.
The turnover figures represent the total amounts invoiced by enterprises during the reference period, excluding VAT but including other duties and taxes on goods. The indices are benchmarked against the average quarterly turnover recorded in 2021, serving as the base year for measuring changes.
The contrasting trends in wholesale trade and the motor vehicle sector highlight the evolving economic landscape in Cyprus. While wholesale trade is thriving, bolstered by diverse categories of goods, the motor vehicle sector faces headwinds, particularly in vehicle sales. As the economy continues to adapt, stakeholders in both sectors will be closely monitoring these developments to strategize for future growth and stability.