Lidl Cyprus published its new socioeconomic impact assessment on Thursday, outlining its contribution to the Cypriot economy and society through employment, investment and sustainability initiatives.

The company said the assessment confirms its commitment to responsible entrepreneurship and its continued creation of value for Cyprus for another consecutive year.

The sixth socioeconomic impact assessment captures Lidl Cyprus’ performance during 2024 and highlights the steady strengthening of its economic and social footprint across the country.

According to the study, Lidl Cyprus contributed a total of €133 million to Cyprus’ GDP, corresponding to 0.43 per cent of national output.

The assessment found that for every €1 contributed by Lidl Cyprus, an additional €0.46 in added value is generated across the wider economy.

In terms of employment, the company supports 2,000 jobs across Cyprus, including direct, indirect and induced employment.

This employment impact represents 0.40 per cent of total national employment, according to the study.

The analysis showed that for every job created by Lidl Cyprus, a further two jobs are supported elsewhere in the Cypriot economy.

The company’s contribution to state revenues reached €22 million in 2024 through taxes and social security contributions.

This amount corresponds to 0.17 per cent of the state’s total tax revenues, the study found.

For every €1 contributed to public revenues by Lidl Cyprus, an additional €2.69 is generated throughout the economy.

The assessment also highlighted strong support for Cypriot producers and suppliers, with Lidl Cyprus collaborating with more than 400 local suppliers.

Through Lidl’s international network, Cypriot products were promoted abroad, resulting in direct exports worth €28.8 million to 27 countries in 2024.

Of this export value, €26 million related specifically to halloumi exports, underlining the importance of the product to Cyprus’ agri-food sector.

The company reported that it sources 100 per cent of its fresh chicken, pork and beef from Cypriot producers.

Lidl Cyprus also sources more than 260 dairy and cheese product codes from 13 local suppliers.

In addition, over 130 fruit and vegetable product codes are sourced locally, with 57 per cent of the store’s grocery turnover coming from Cypriot production.

During 2024, Lidl Cyprus allocated €589,700 to sponsorships, donations and environmental and social initiatives.

Of this amount, €564,600 was invested directly in social and environmental actions, while €25,100 reflected the value of product offerings to vulnerable groups.

The company said its actions align with the United Nations Sustainable Development Goals, focusing on strengthening social cohesion, reducing environmental impact, promoting educational equality and supporting local communities.

Lidl Cyprus stated that it remains committed to creating value for the entire Cypriot society, guided by a long-term vision of sustainable and inclusive growth.