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Statistics: Retail trade enterprises turnover fell by 8 percent last year

A supermarket in Estonia.
A supermarket in Estonia. Source: Priit Mürk/ERR

Retail turnover fell by by 8 percent on year to 2023 at constant prices, to a total of €10.5 billion, state agency Statistics Estonia reports.

Commenting on the results, Statistics Estonia analyst Johanna Linda Pihlak said: "The largest decline – of 11 percent – was seen in the turnover of stores selling manufactured goods."

"The turnover of enterprises engaged in the retail sale of automotive fuel decreased by 5 percent and the turnover of grocery stores by 4 percent," Pihlak added.

In short, in 2023, turnover fell in grocery stores, in stores selling manufactured goods as well as in enterprises engaged in the retail sale of automotive fuel.

This down trend in retail trade turnover also continued in the last month of 2023, in other words comparing December 2022 alone with December 2023.

Thus in December 2023, the turnover of retail trade enterprises stood at €967 million, a fall of 5 percent on December 2022.

Between November and December 2023, the turnover of retail trade enterprises grew by 11 percent, which would be expected given the arrival of Christmas and the end-of-year sales.

Turnover volume index of retail trade. Source: Statistics Estonia

Retail turnover changes on year to 2023 quick facts (Source: Statistics Estonia)

Turnover at stores selling manufactured goods fell by 7 percent between December 2022 compared with December 2023.

Turnover fell most (by 14 percent), in "other specialized stores," predominantly selling computers and their accessories, books, sports equipment, games, toys, and other items.

A higher-than-average fall was also posted in the turnover of stores selling second-hand goods and non-store retail sale, ie. stalls and markets, at 13 percent, and stores selling textiles, clothing and footwear (down 8 percent).

Additionally, the turnover of enterprises engaged in the retail sale of automotive fuel fell by 10 percent in December 2023, compared with December 2022.

Turnover of grocery stores remained at the same level in December 2023 as it had been in December 2022.

Statistics Estonia compiles the above data on behalf of the Ministry of Economic Affairs and Communications, based on the VAT declaration data from the Estonian Tax and Customs Board (EMTA).

More detailed information is available on the Statistics Estonia website here and here.

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Editor: Andrew Whyte

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