The growth in retail sales decelerated in February

News
Posted on 31 March 2014, 11:00
According to Statistics Estonia, in February 2014 compared to February of the previous year, the retail sales of goods of retail trade enterprises increased 3% at constant prices. When in January retail sales increased 7% compared to the same month of the previous year, then in February the growth decelerated.

In February 2014, the retail sales of goods of retail trade enterprises were 331.7 million euros, which was 253 euros per inhabitant. The growth rate of retail sales in stores selling manufactured goods slowed down significantly compared to the previous months. While during the last three months (November – January), the retail sales of those stores increased 10–14% during the year, then in February the growth was 5%. Sales increased in most economic activities. Only the retail sales in non-specialized stores selling predominantly industrial goods (e.g. department stores) were 7% smaller than in February of the previous year. The retail sales of second-hand goods in stores and non-store retail sale (stalls, markets, direct sale) stayed at the same level compared to February of the previous year. In February, the retail sales via mail order or the Internet and retail sales in stores selling textiles, clothing and footwear increased the most (30% and 25% growth, respectively).

The retail sales in grocery stores have been rather stable during the last months. In February, the retail sales in grocery stores increased 4% compared to February of the previous year.

The retail sales of automotive fuel decreased 2% at constant prices compared to February 2013.

Compared to the previous month, in February, the retail sales in retail trade enterprises decreased 9% at constant prices. According to the seasonally and working-day adjusted data, retail sales decreased 3%.

In February, the turnover of retail trade enterprises was 398.6 million euros, out of which the retail sales of goods accounted for 83%. Compared to February 2013, the turnover increased by 5% at current prices. Compared to the previous month, this indicator decreased by a tenth.

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

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