Monthly retail figures down 2% in Latvia

Calendar adjusted data (at constant prices) published on February 29 by the Central Statistical Bureau (CSB) show that, compared to January 2023, in January 2024 total retail trade turnover reduced by 2.0 %. 

Turnover of retail trade in food products declined by 4.4 %. Retail trade in non-food products (except for retail sale of automotive fuel) decreased by 2.4 %, but turnover of retail sale of automotive fuel increased by 3.8 %.

As compared to January 2023, the largest turnover rise was registered in retail sale of clothing, footwear and leather goods (20.0 %) and retail sale in pharmaceutical and medical goods (2.4 %). The turnover drop was registered in retail sale in non-specialised stores selling mainly non-food products (21.2 %), and it was affected by the change in kind of primary economic activity of separate enterprises. Turnover decline was also registered in retail sale in stalls or markets (of 14.0 %) and retail sale of hardware, instruments, construction materials and sanitary equipment (5.4 %).

Total retail trade turnover at current prices fell by 0.4 % (not taking into account the calendar influence).

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Compared to December, the total turnover of retail trade enterprises in January 2024 fell by 0.8 %, according to seasonally adjusted data at constant prices. Turnover of retail trade in food products declined by 0.7 %. Retail trade in non-food products (except for retail sale of automotive fuel) reduced by 1.6 %, but turnover of retail sale of automotive fuel – increased by 1.5 %.

The largest turnover drop was recorded in retail sale of cultural and recreation goods (of 8.9 %), retail sale in stalls or markets (8.4 %) and retail sale of clothing, footwear and leather goods (2.6 %).

Compared to December, in January 2024 the total retail trade turnover at current prices (not taking into account seasonality) decreased by 19.1 %.

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