The growth in retail sales continues

According to Statistics Estonia, in July 2012 compared to July of the previous year, the retail sales of goods of retail trade enterprises increased 6% at constant prices.

Since March this year, retail sales growth has remained within 6 to 9% compared to the same month of the previous year. The growth was 6% in March, 7% in April, 9% in May and 7% in June.

In July 2012, the retail sales of goods of retail trade enterprises were 392.4 million euros. The retail sales in stores selling manufactured goods increased 8% compared to July 2011. The sales increased in most economic activities. Only the retail sales in stores selling household goods and appliances, hardware and building materials were one percent smaller than in July of the previous year. The fall in the retail sales of these stores was influenced by the high reference base of the previous year. In July, the retail sales of pharmacies and cosmetics stores increased the most, with their retail sales growing by a fifth compared to July of the previous year. A higher than average increase also occurred in the sales of other specialized stores, such as stores selling computers and their accessories, photography supplies, books, sports equipment, games and toys, flowers and plants (14% growth); stores selling textiles, clothing and footwear (12% growth) and retail sales via mail order or the Internet (10% growth).

The retail sales in grocery stores, which decelerated a little in June, stabilized in July and, like in June, increased 5% in annual comparison. The growth in the retail sales of these stores was influenced by the acceleration in the price increase of food products in recent months. In April and May the annual price increase of food products was 1.5 to 2%, while in June and July it was about 4%.

Compared to the previous month, in July the retail sales in retail trade enterprises increased 2% at constant prices. According to the seasonally and working-day adjusted data, the increase was 1%. During the seven months of 2012 (January to July), the retail sales in retail trade enterprises increased 8.5% at constant prices compared to the corresponding period of the previous year.

In July the revenues from sales of retail trade enterprises were 488.7 million euros, out of which retail sales of goods accounted for 80%. Compared to July 2011, the revenues from sales increased by 11% at current prices. Compared to the previous month, this indicator stayed at the same level.

Retail sales volume index of retail trade enterprises and its trend, January 2002 – July 2012 (2005 =100)

Diagram: Retail sales volume index of retail trade enterprises and its trend

Source: Statistics Estonia

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