Retail sales decreased by a tenth

According to Statistics Estonia, in January 2009 compared to January of the previous year the retail sales of goods of retail trade enterprises decreased 10% at constant prices.

The decrease in retail sales of goods, which had begun in March 2008 compared to the corresponding month of the previous year, continued at the beginning of this year. Melting-down economy and the resulting decline in consumer confidence contributed to this trend.

In January, the retail sales of goods of retail trade enterprises were 4.4 billion kroons. Compared to January 2008, the retail sales of goods decreased in most economic activities. The decrease in the retail sales of goods was most influenced by the stores selling manufactured goods, where the retail sales of goods decreased 19% compared to the same month of the previous year. The retail sales in stores selling household goods and appliances, hardware and building materials decreased the most. The sales decrease of these stores was influenced by the low level in real estate and construction sectors.

Retail sales in grocery stores have been rather stable during the recent months. In these stores, the retail sales decreased 3% compared to January of the previous year.

Compared to the previous month, the retail sales in retail trade enterprises decreased by 21% in constant prices. This is a usual fall following the Christmas time and end-of-year sales.

In January the revenues from sales of retail trade enterprises were 5.3 billion kroons, out of which retail sales of goods accounted for about 85%. Compared to January 2008, the revenues from sales decreased 12% at current prices. Compared to the previous month, this indicator decreased 21%.

Retail sales volume index of retail trade enterprises and its trend,
January 2002 – January 2009 (corresponding month of previous year =100)

Source: Bank of Estonia

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