Statistics: Retail turnover fell by 6 percent on year to February 2023
Retail turnover fell by 6 percent at constant prices, on year to February, and stood at €740 million, state agency Statistics Estonia says.
Commenting on the results, Statistics Estonia analyst Johanna Linda Pihlak said: "Turnover was down in most sectors, except for stores selling textiles, clothing and footwear, in which turnover was up by 5 percent compared with February 2022."
The contraction in the turnover of retail trade enterprises in February was most affected by stores selling manufactured goods, where turnover fell by 8 percent year on year, she added.
Among stores selling manufactured goods, turnover fell the most, by 13 percent, in other specialized stores selling predominantly computers and their accessories, books, sports equipment, games, toys, etc.
Retail turnover in February 2023 Quick Facts (Source: Statistics Estonia)
Turnover February 2022 to February 2023 declined by:
- by 11 percent in stores selling household goods and appliances, hardware and building materials,
- by 5 percent in stores selling via mail order or the internet,
- by 5 percent in grocery stores,
- by 4 percent in enterprises engaged in the retail sale of automotive fuel,
- by 3 percent in stores selling second-hand goods and non-store retail sale (stalls, markets, and direct sale),
- by 3 percent in pharmacies and stores selling cosmetics, and also by 3 percent in other non-specialized stores selling predominantly manufactured goods (department stores).
On month, January to February 2023, the turnover of retail trade enterprises fell by 8 percent, while according to the seasonally and working-day adjusted data, turnover decreased by 2 percent, compared with the previous month.
The above is based on VAT declaration data from the Estonian Tax and Customs Board (MTA), while Statistics Estonia compiled the report on behalf of the Ministry of Economic Affairs and Communications.
More detailed information is here and here.
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Editor: Andrew Whyte