Statistical Service of the Republic of Cyprus

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Methodological note on the Retail TradeTurnover Index

The Turnover Index aims at showing developments in the retail trade sector.

The index covers activities of division 47 (excluding code 47.8-Retail sale via stalls and markets) classified under section G of the NACE Rev.2 classification of the European Union are covered.

Data Collection
Data collection starts one week after the end of the reference month and is carried out by telephone or personal interviews, by fax and by e-mail.

Turnover comprises the sales invoiced by the enterprise during the reference period, which corresponds to market sales of goods or services supplied to third parties. Turnover includes all duties and taxes on the goods or services with the exclusion of the VAT invoiced and including all other taxes and duties on goods.

Compilation Method and Dissemination Practices
The Turnover Value Index is compiled at current prices.

The Turnover Volume Index represents the value of turnover at constant prices. It is calculated by deflating the Turnover Value Index using Consumer Price Indices (CPI).

The index is based on year 2015 (i.e. average 2015=100), meaning that it shows the monthly changes in turnover in relation with the monthly average turnover in 2015.

The weights used are derived from the annual Wholesale and Retail Trade Survey 2015.

Enterprises with 10 or more persons employed are surveyed exhaustively and a sample is selected from enterprises employing less than 10 persons.

The Retail Trade Turnover Index follows the provisions of Council Regulation (EC) No 1165/98 concerning short-term statistics and its amending Regulations.

At national level the index is published unadjusted (gross), i.e. no working day or seasonal adjustment is performed. In addition to the unadjusted index, a working day and a seasonally adjusted index is transmitted to the Statistical Office of the European Union (Eurostat).

For further information
Evangelia Efstathiou
Tel.: 22602196
Fax : 22602770

Last Updated: 27/08/2018