The growth in retail sales accelerated

According to Statistics Estonia, in June 2014 compared to June of the previous year, the retail sales of goods of retail trade enterprises increased 7% at constant prices. While in May retail sales increased 4% compared to the same month of the previous year, then in June the retail sales growth accelerated to some extent.

In June 2014, the retail sales of goods of retail trade enterprises were 427.6 million euros, which was 325 euros per inhabitant. The retail sales growth in stores selling manufactured goods, which decelerated markedly in May, accelerated again in June and sales increased 14% during the year. The acceleration of retail sales growth in stores selling manufactured goods was partly influenced by the very low reference base of June of the previous year. In June, the retail sales increased in most economic activities. Only the retail sales in non-specialized stores selling predominantly industrial goods (e.g. department stores) and the retail sales of second-hand goods in stores and non-store retail sale (stalls, markets, direct sale) were smaller than in June of the previous year. The retail sales via mail order or the Internet increased the most, with retail sales increasing by a fourth (25%). The retail sales increased also in stores selling textiles, clothing and footwear (19% growth), in stores selling household goods, appliances, hardware and building materials (18% growth), in other specialized stores, such as stores selling computers and their accessories, photography supplies, books, sports equipment, games and toys, flowers, plants etc. (17% growth) and in stores selling pharmaceutical goods and cosmetics (15% growth).

The retail sales in grocery stores have been rather stable during the last two months. In June, the retail sales in grocery stores increased 3% compared to June of the previous year.

The retail sales of automotive fuel increased 4% at constant prices compared to June 2013.

Compared to the previous month, in June the retail sales in retail trade enterprises increased 1% at constant prices. According to the seasonally and working-day adjusted data, however, the retail sales stayed at the same level compared to the previous month. During the six months (January–June) of 2014, the retail sales in retail trade enterprises increased 6% at constant prices compared to the corresponding period of the previous year.

In June, the turnover of retail trade enterprises was 506 million euros, out of which the retail sales of goods accounted for nearly 85%. Compared to June 2013, the turnover increased by 9% at current prices. Compared to the previous month, this indicator increased 1%.

Retail sales volume index of retail trade enterprises and its trend, January 2004 – June 2014
(2010 = 100)

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

 

Source: Statistics Estonia

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