Cyprus reported the biggest annual increase in retail sales (in volume terms) in the EU in May 2025, seeing a 7.9% increase, new data from Eurostat has revealed.
According to the data, other countries to report a notable increase in retail sales in the period included Bulgaria (+7.2%), Luxembourg (6.3%), Spain (4.8%) and Portugal (+4.6%).
At the other end of the scale, several countries saw a decline in retail sales on an annual basis, with Finland (-2.2%) seeing the biggest drop, followed by Latvia (-1.9%), Sweden (-1.8%) and Slovakia (-1.7%). No data was available for Czechia or Greece.
Retail sales in the EU
Across the European Union, retail trade volumes were up 1.9% on an annual basis, while in the euro area, growth came in at 1.8%.
On a category-by-category basis, the EU saw a 0.2% increase in retail trade volumes for food, drinks, and tobacco, 2.8% for non-food products, and 3.3% for fuel. In the euro area, the increases were 0.5%, 2.4% and 2.8%, respectively.
On a month-on-month basis, i.e. compared to April 2025, the volume of retail trade in the EU declined by 0.8%, while in the euro area, the decline was 0.7%. Sweden reported the steepest monthly drop at -4.6%, followed by Belgium (-2.5%) and Estonia (-2.2%), Eurostat‘s data showed.
Expert commentary
Commenting on the findings, Bert Colijn, chief economist with ING in the Netherlands, said, “Retail sales were strong at the beginning of the year, suggesting that despite consumer unease, stronger wage growth was still translating into a sales uptick. But May’s numbers provide a reality check as sales fell by -0.7% on the month. Although this decline may be partly due to the timing of holidays, it clearly lowers the overall trend.
“The potential for a retail sales rebound remains significant though as purchasing power continues to recover in the eurozone. The problem for now is that saving rates have continued to increase due to high uncertainty. Consumer confidence is currently low, which can have a lasting impact on sales in European retail districts.” Read more here and here.
Retail Trade Volumes by EU Member State (%)
| Country | Change (%) |
|---|---|
| Cyprus | 7.9 |
| Bulgaria | 7.2 |
| Luxembourg | 6.3 |
| Spain | 4.8 |
| Portugal | 4.6 |
| Denmark | 4.2 |
| Poland | 3.9 |
| France | 3.4 |
| Croatia | 2.6 |
| Estonia | 2.5 |
| Romania | 2.3 |
| Lithuania | 2.0 |
| Hungary | 2.0 |
| Ireland | 1.9 |
| Germany | 1.6 |
| Slovenia | 1.6 |
| Belgium | 0.9 |
| Austria | 0.8 |
| Italy | -0.4 |
| Malta | -0.5 |
| Netherlands | -0.5 |
| Slovakia | -1.7 |
| Sweden | -1.8 |
| Latvia | -1.9 |
| Finland | -2.2 |
| Czechia | n/a |
| Greece | n/a |
Note: Data for Czechia and Greece not available.
