The turnover of retail trade enterprises decreased in June

According to Statistics Estonia, in June 2018, compared to June of the previous year, the turnover of retail trade enterprises decreased 1% at constant prices.

In June 2018, the turnover of retail trade enterprises was 613.6 million euros.

The turnover growth of stores selling manufactured goods slowed down in June. While in May, the turnover of these stores increased 6% compared to the same month of the previous year, in June the growth was 2%. The turnover increased in four and decreased in two economic activities. In one economic activity, sales remained on the level of the previous year. Compared to June of the previous year, turnover increased in stores selling household goods and appliances, hardware and building materials (9% growth), in stores selling via mail order or the internet (7% growth), in pharmacies and stores selling cosmetics (5% growth) and in non‑specialised stores, e.g. department stores, selling predominantly manufactured goods (1% growth). Compared to June of the previous year, turnover decreased in other specialised stores, such as stores selling predominantly computers and their accessories, books, sports equipment, games, toys, etc., in stores selling second-hand goods and in non-store retail sale (stalls, markets, direct sale). In stores selling textiles, clothing and footwear, turnover remained at the same level as in June of the previous year.

The turnover of grocery stores decreased 4% compared to June 2017.

The turnover of enterprises engaged in retail sales of automotive fuel decreased 4% compared to June of the previous year.

Compared to the previous month, in June, the turnover of retail trade enterprises decreased 2%. According to the seasonally and working-day adjusted data, the decrease was also 2%. In the six months of 2018 (January–June), the turnover of retail trade enterprises increased 0.5% compared to the corresponding period of the previous year.

Turnover volume index of retail trade enterprises and its trend, January 2008 – June 2018

The statistics are based on the VAT declaration data of the Estonian Tax and Customs Board.Statistics Estonia published the monthly summary in four working days. For the statistical activity “Economic indicators of trade enterprises”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia performs this statistical activity.

Source: Statistics Estonia

Beer price has increased by 27 pct in a year

According to Statistics Estonia, the change of the consumer price index in February 2018 was 0.9% compared to January 2018 and 3.1% compared to February of the previous year.

Compared to February 2017, goods were 3.5% and services 2.4% more expensive. Regulated prices of goods and services have risen by 6.4% and non-regulated prices by 2.2% compared to February of the previous year.

Compared to February 2017, the consumer price index was affected the most by food and non‑alcoholic beverages, which became 5% more expensive, contributing over a third of the total increase of the index. Fruit was 18.2% and milk, dairy products and eggs 7% more expensive. Alcoholic beverages and tobacco accounted for nearly a quarter of the total increase of the index. 60% of the impact of alcoholic beverages and tobacco came from beer, which was 27% more expensive. Motor fuel contributed a ninth of the total increase. Petrol was 7% and diesel fuel 4.6% more expensive than in February 2017. Compared to the same month of the previous year, of food products, the biggest price increases were seen for eggs (41%), frozen fruit and berries (37%) and butter (25%).

Compared to January 2018, the consumer price index was affected the most by a 5.3% price increase of electricity that reached homes. 0.8% more expensive food, 2.9% more expensive alcoholic beverages and the ending of seasonal sales of clothing and footwear also had a greater impact on the index.

Change of the consumer price index by commodity groups, February 2018
Commodity group February 2017 – February 2018, % January 2018 – February 2018, %
TOTAL 3.1 0.9
Food and non-alcoholic beverages 5.0 0.7
Alcoholic beverages and tobacco 10.6 2.2
Clothing and footwear 0.9 2.7
Housing 4.2 1.2
Household goods 0.8 0.2
Health 3.0 0.8
Transport 0.6 0.4
Communications -5.6 -0.2
Recreation and culture 2.0 1.3
Education -4.7 -0.1
Hotels, cafés and restaurants 5.0 1.0
Miscellaneous goods and services 2.9 0.5

Statistics Estonia publishes the consumer price index on the 5th working day of each month, after the end of the reporting period. For the statistical activity “Consumer price index”, the main representative of public interest is the Ministry of Finance, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.

Source: Statistics Estonia

The turnover of retail trade enterprises was 654.5 mEUR in December

According to Statistics Estonia, in December 2017, compared to December 2016, the turnover of retail trade enterprises increased 1% at constant prices.

In December 2017, the turnover of retail trade enterprises was 654.5 million euros.

The turnover of stores selling manufactured goods increased 7% compared to December 2016. Turnover increased in most economic activities, except in non-specialised stores selling predominantly manufactured goods (e.g. department stores) where turnover was smaller than in December 2016. Turnover increased the most in stores selling via mail order or the internet, with sales increasing 26% in a year. A higher than average increase in turnover occurred also in stores selling household goods and appliances, hardware and building materials (growth 13%) and in stores selling second-hand goods and in non-store retail sale (stalls, markets, direct sale) (growth 9%).

The turnover of grocery stores decreased 3% compared to December 2016. The turnover fall of these stores was affected by the continuing price increase of food products.

The turnover of enterprises engaged in retail sales of automotive fuel stayed at the same level as in December 2016.

Compared to November 2017, in December the turnover of retail trade enterprises increased 18%. This is a usual rise in December, when Christmas and turn-of-the-year sales take place.

According to preliminary data, the turnover of retail trade enterprises was 6.7 billion euros in 2017. Compared to 2016, turnover increased 1.5%.Turnover volume index of retail trade enterprises and its trend, January 2007 – December 2017

The statistics are based on the VAT declaration data of the Estonian Tax and Customs Board.Statistics Estonia published the monthly summary in four working days. For the statistical activity “Economic indicators of trade enterprises”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia performs this statistical activity.

Source: Statistics Estonia

The turnover of retail trade enterprises fell in November

According to Statistics Estonia, in November 2017, compared to November 2016, the turnover of retail trade enterprises decreased 1% at constant prices. The decrease in turnover was affected the most by enterprises engaged in the retail sales of automotive fuel.

In November 2017, the turnover of retail trade enterprises was 558 million euros. The decrease in turnover was affected the most by enterprises engaged in retail sales of automotive fuel, where sales decreased 9% compared to November 2016. The turnover fall of these enterprises was impacted by considerably faster price increase of automotive fuel in November. While in October petrol was 7.5% and diesel fuel 9% more expensive in year-on-year comparison, in November both petrol and diesel fuel were 16% more expensive.

The turnover of grocery stores decreased 3% compared to November 2016. The turnover fall of these stores was affected by the continuing price increase of food products.

The turnover of stores selling manufactured goods increased 5% compared to November 2016. Turnover increased in most economic activities, except in other specialised stores selling mainly computers and their accessories, books, sports equipment, games, toys etc. where turnover was smaller than in November 2016. Turnover increased the most in stores selling via mail order or the internet, with sales increasing 28% in a year. A higher than average increase in turnover occurred also in stores selling household goods and appliances, hardware and building materials (12%) and in stores selling textiles, clothing and footwear (8%).

Compared to October 2017, in November the turnover of retail trade enterprises decreased 4%. However, according to the seasonally and working-day adjusted data, turnover stayed at the same level as in the previous month.

In the eleven months of 2017 (January–November), the turnover of retail trade enterprises increased 1.5% compared to the corresponding period of the previous year.

Turnover volume index of retail trade enterprises and its trend, January 2007 – November<br>2017 (2010 = 100)

The statistics are based on the VAT declaration data of the Estonian Tax and Customs Board. Statistics Estonia published the monthly summary in three working days. For the statistical activity “Economic indicators of trade enterprises”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia performs this statistical activity.

Source: Statistics Estonia

The prices of milk, dairy products and eggs increased over 13 pct in a year

According to Statistics Estonia, the change of the consumer price index in August 2017 was 0.4% compared to July 2017 and 3.9% compared to August of the previous year.

Compared to August 2016, goods were 3.8% and services 4.1% more expensive. Regulated prices of goods and services have risen by 7.2% and non-regulated prices by 3.0% compared to August of the previous year.

Compared to August 2016, the consumer price index was affected the most by 6.4% more expensive food and non-alcoholic beverages, which contributed more than a third of the total increase of the index. A third of the latter was contributed by 13.2% more expensive milk, dairy products and eggs. Alcoholic beverages and tobacco accounted for a fifth of the total increase of the index, of which three-fifths were contributed by 28% more expensive beer and a fifth by 8.6% more expensive tobacco products. The price increase of motor fuel also had a greater impact on the index. Petrol was 9.5% and diesel fuel 10.2% more expensive than in August 2016. Of food products, the biggest price increases were seen for butter (44%), low-fat milk (25%) and olive oil (25%).

The previous time that the change of the consumer price index compared to the same month of the previous year was greater than 3.9% was in October 2012, when the change was 4.1%.

In August, compared to July, the consumer price index was affected the most by housing. Electricity that reached homes was 2.4% and rent for housing 3.5% more expensive. The ending of seasonal sales of clothing and footwear and 9% less expensive fresh fruit also had a greater impact on the index change.

Change of the consumer price index by commodity groups, August 2017
Commodity group August 2016 –
August 2017, %
July 2017 –
August 2017, %
TOTAL 3.9 0.4
Food and non-alcoholic beverages 6.4 -0.4
Alcoholic beverages and tobacco 11.1 1.5
Clothing and footwear -0.5 3.3
Housing 4.2 1.3
Household goods 0.3 0.6
Health 0.6 -1.1
Transport 4.8 0.3
Communications -5.6 0.0
Recreation and culture 1.5 -0.5
Education 4.7 0.0
Hotels, cafés and restaurants 6.8 -0.2
Miscellaneous goods and services 2.8 0.2

Statistics Estonia publishes the consumer price index on the 5th working day of each month, after the end of the reporting period. For the statistical activity “Consumer price index”, the main representative of public interest is the Ministry of Finance, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.

Source: Statistics Estonia

The turnover of retail trade enterprises increased 5 pct in June

According to Statistics Estonia, in June 2017, the turnover of retail trade enterprises increased 5% at constant prices compared to June 2016. While in May turnover increased 1% compared to the same month of the previous year, in June growth accelerated.

In June 2017, the turnover of retail trade enterprises was 593.1 million euros.

The turnover growth of stores selling manufactured goods accelerated in June. While in May the turnover of these stores increased 5% compared to the same month of the previous year, in June the growth was 11%. Turnover increased in all economic activities. The increase was largest in stores selling via mail order or the Internet, with sales increasing nearly a third (32%) in year-over-year comparison. A higher than average increase in turnover occurred also in other specialised stores, selling mainly computers and their accessories, photography supplies, books, sports equipment, games and toys, flowers, plants, etc. (22%). In June, the turnover of stores selling pharmaceutical goods and cosmetics, which showed a decline in the previous months, resumed growth, increasing 5% compared to the same month of the previous year. After a decline in May, turnover increased also in stores selling textiles, clothing and footwear (6%) and in other non-specialized stores selling predominantly manufactured goods (e.g. department stores) (5%). In June, turnover growth continued also in stores selling household goods and appliances, hardware and building materials (7%) and in stores selling second-hand goods and in non-store retail sale (stalls, markets, direct sale) (2%).

The turnover of grocery stores stayed at the same level compared to June 2016.

The turnover of enterprises engaged in the retail sale of automotive fuel, which showed a decline in April and May, resumed growth in June, increasing 3% compared to June of the previous year.

Compared to the previous month, in June, the turnover of retail trade enterprises increased 2%. According to the seasonally and working-day adjusted data, the growth was 1%. In the six months of 2017 (January–June), the turnover of retail trade enterprises increased 2% compared to the corresponding period of the previous year.Turnover volume index of retail trade enterprises and its trend

The statistics are based on the VAT declaration data of the Estonian Tax and Customs Board. Statistics Estonia published the monthly summary in five working days. For the statistical activity “Economic indicators of trade enterprises”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia performs this statistical activity.

Source: Statistics Estonia

e-commerce purchases up by 25 pct in 2.Q

Individuals in Estonia made an average of 1.1 million cashless payments per day in the second quarter of 2017. The number of payments was 7% and the turnover 8% higher than it was at the same time last year.

75% of the cashless payments initiated by individuals were card payments. 819,000 card payments were made daily in the second quarter, 7% of them outside Estonia. Estonian residents used card payments in 184 countries in the second quarter, the most popular being Finland, Latvia, Russia, Sweden, Spain and the UK. People in Estonia are some of the greatest lovers of card payments in Europe, only surpassed by Denmark, the Netherlands, Finland, Sweden and the UK. The average size of a card payment made by an individual in Estonia was 15.4 euros in the second quarter, which is one of the smallest in Europe, probably because Estonia has not set a floor for the size of a card payment. Card payments made abroad were larger and averaged at 26.8 euros.

The daily average number of payment orders made by individuals in the second quarter was 250,000. Half of them were payments through an internet bank, and the other half were e-invoice standing orders and payment orders through a bank link. The number of e-invoice standing orders has not changed since the changeover from direct debits. In 2013, before the changeover to e-invoice standing orders, the average number of direct debits was 54,000 per day. By the second quarter of 2017, it had remained almost the same at 53,000 payments per day. Most payment orders are domestic, only 0.6% are made to foreign banks.

Figures illustrating the use of online stores stand out among other payment methods. Compared to the same time last year, the number of payment orders made through a bank link* has grown by more than 10% (it is now 50,000 payments per day). A bank link can only be used for domestic purchases. Estonian residents are becoming progressively more active in purchasing from foreign online stores. In the second quarter, individuals made 28,000 e-commerce card transactions every day, which is a 46% increase year-on-year. 91% of online purchases made with a card come from foreign online stores. Data from Omniva and Statistics Estonia confirm that Estonian people are ordering online more and more. Statistics Estonia data also show that in April and May, the sales revenue of stores that sell online or by post grew the most, 30% in a year, compared to the 6% sales revenue increase of retail stores. The largest retail chains in Estonia attest to the fact that e-commerce is growing fast, and most chains have opened or are planning to open their online store soon.

* A bank link is a payment method where an online store directs the customer to pay for a purchase in their internet bank using a pre-filled order.

Cashless payments initiated by individuals through Estonian banks in 2017 Q2 (daily average)
number of payments (thous.) incl. cross-border payments turnover of payments (million euros) incl. cross-border payments
Total of the payments made (A+B+F+G) 1 100 7% 45,7 9%
         incl. card payments (A) 819 7% 13,2 11%
         incl. payment orders (B) 250 1% 30,3 7%
                 internet bank payment orders  (C) 123 1% 17,9 7%
                 e-invoice standing orders (D) 53 0% 1,6 0%
                 bank link payment orders (E) 50 0% 1,4 0%
         incl. e-commerce card transactions (F) 28 91% 1,0 93%
         incl. other (G) 3 0% 1,2 0%
E-commerce transactions (E+F) 78 33% 2,4 38%

 

Number of cashless payments made by individuals

Source: Bank of Estonia

Author: Tiina Soosalu, Eesti Pank Payment and Settlement Systems Department