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In July the decrease in retail sales slowed down

News
Posted on 31 August 2010, 11:00
According to Statistics Estonia, in July 2010 compared to July of the previous year the retail sales of goods of retail trade enterprises decreased 1% at constant prices. The decrease of the retail sales in July was the smallest of the current year.

In January the retail sales of goods decreased 13% compared to the same month a year ago, in February 11%, in March 10%, in April 9%, in May 4% and in June 6%.

In July, the retail sales of goods of retail trade enterprises were almost 5 billion kroons (318 million euros). The decrease in retail sales of goods was most influenced by the stores selling manufactured goods, where the retail sales decreased by 5% compared to July 2009. The decrease in retail sales in these stores has started to stabilize and in some economic activities the sales have grown. The retail sales of goods increased in the retail sales in non-specialized stores with industrial goods predominating (12%), the retail sales of second-hand goods in stores (5%), the retail sales in stores selling textiles, clothing, footwear and leather goods (4%) and the retail sales of pharmaceutical goods and cosmetics (3%).

In July, the retail sales recovered remarkably in the grocery stores, where the downward trend was replaced by the upward trend and the retail sales increased 1% compared to July 2009. The sales growth in these stores was influenced by extraordinarily hot weather in July that caused a leap in sales of food and beverages of the summer season.

Compared to the previous month, the retail sales in retail trade enterprises increased by 2% at constant prices. According to the seasonally and working-day adjusted data the retail sales increased by 1%. In grocery stores the retail sales of goods increased 2% compared to the previous month but in stores selling manufactured goods the retail sales decreased 3%.

In July the revenues from sales of retail trade enterprises were 6.1 billion kroons (392 million euros), out of which the retail sales of goods accounted for 81%. Compared to July of the previous year, the revenues from sales increased 5% at current prices. Compared to the previous month, this indicator increased 2%.

Retail sales volume index of retail trade enterprises and its trend, January 2002 – July 2010 (2005 =100)

Diagram: Retail sales volume index of retail trade enterprises and its trend, January 2002 – July 2010 (2005 =100)