Statistics: Retail trade turnover down 8 percent to August 2023

Vacuum cleaners for sale at a large retail chain store. Photo is illustrative.
Vacuum cleaners for sale at a large retail chain store. Photo is illustrative. Source: Priit Mürk/ERR

Retail trade turnover in Estonia fell by 8 percent to €912 million at constant prices on year to August, state agency Statistics Estonia says, adding that this trend has been ongoing for a year now.

In the first eight months of 2023, the turnover of retail trade enterprises fell by 9 percent compared with the same time frame in 2022, the agency adds.

Commenting on the results, Statistics Estonian analyst Johanna Linda Pihlak said: "Turnover was down in most sectors, save for pharmacies and stores selling cosmetics, where turnover rose by 4 percent compared with the same period last year."

Retail trade turnover has been in decline for the past twelve months, Pihlak added, noting that the fall in turnover in August was most affected by stores selling manufactured goods. In this case, turnover fell by 11 percent on year, Pihlak said.

Of this category, turnover decreased the most, by 23 percent, in stores selling via mail order or online.

The fall in turnover was above average also in other specialized stores selling predominantly computers and their accessories, books, sports equipment, games, toys, etc. (a fall of 16 percent), and in stores selling second-hand goods and non-store retail sale (stalls, markets, and direct sale, which fell by 15 percent, Statistics Estonia says).

Turnover also fell by 4 percent in both grocery stores and enterprises engaged in the retail sale of automotive fuel, on year to August 2023.

On month, ie. between July and August this year, the turnover of retail trade enterprises in fact rose, by 1 percent, though when seasonally and working-day adjusted data is factored in, turnover remained at the previous month's level.

Turnover Volume Index Source: Statistics Estonia

Statistics Estonia utilizes VAT declaration data from the Estonian Tax and Customs Board (MTA) in compiling the above report, on behalf of the Ministry of Economic Affairs and Communications.

More detailed information from Statistics Estonia is available here and here.

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Editor: Andrew Whyte

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