The growth in retail sales accelerated

According to Statistics Estonia, in July 2014 compared to July of the previous year, the retail sales of goods of retail trade enterprises increased 10% at constant prices. Retail sales increased 4% in May and 7% in June compared to the corresponding month of the previous year, whereas in July the retail sales growth accelerated even more.

In July 2014, the retail sales of goods of retail trade enterprises were 448.7 million euros, which was 341 euros per inhabitant. The retail sales in stores selling manufactured goods increased 13% compared to July 2013. Sales increased in most economic activities. Only the retail sales in non-specialized stores selling predominantly industrial goods (e.g. department stores) were 12% smaller than in July of the previous year. In July, the retail sales via mail order or the Internet increased the most (30% growth). A higher than average increase occurred also in stores selling textiles, clothing and footwear (27% growth), in other specialized stores, such as stores selling computers and their accessories, photography supplies, books, sports equipment, games and toys, flowers, plants etc. (19% growth), and in stores selling pharmaceutical goods and cosmetics (14% growth).

In July, the growth rate of retail sales in grocery stores accelerated markedly. In May and June the retail sales of those stores increased 3–4% compared to the same month of the previous year, while in July the growth was 7%. The growth in the retail sales of grocery stores was influenced by the discount sales campaigns that took place in July and by the acceleration of the price decrease of food products. The annual price decrease of food products was 0.3% in June, but 2% in July.

The retail sales of automotive fuel increased 9% at constant prices compared to July 2013.

Compared to the previous month, in July the retail sales in retail trade enterprises increased 6% at constant prices. According to the seasonally and working-day adjusted data, the increase was 3%. During the seven months (January–July) of 2014, the retail sales in retail trade enterprises increased 6.5% at constant prices compared to the corresponding period of the previous year.

In July, the turnover of retail trade enterprises was 530.6 million euros, out of which the retail sales of goods accounted for about 85%. Compared to July 2013, the turnover increased by 8% at current prices. Compared to the previous month, this indicator increased 4%.

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

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

Source: Statistics Estonia

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: