Latvia's retail trade down 9% on year in March

Calendar-adjusted data (at constant prices) published on April 28 by the Central Statistical Bureau (CSB) show that, compared to March 2022, in March 2023 total retail trade turnover decreased by 9.0 %. 

Turnover of retail trade in food products declined by 11.4 %. Retail trade in non-food products (except for retail sale of automotive fuel) fell by 7.8 %, but turnover of retail sale of automotive fuel – by 7.0 %. The decline in indicators was affected by the lifting of last pandemic-related restrictions in retail trade in March last year, contributing to a significant increase in turnover a year ago.

Compared to March 2022, significant turnover drop was observed in retail sale of cultural and recreation goods (of 26.0 %), retail sale in non-specialized stores selling mainly non-food products (15.5 %) and retail sale of hardware, instruments, construction materials and sanitary equipment (9.4 %).

Total retail trade turnover at current prices didn’t change (not taking into account the calendar influence).

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Compared to February, the total turnover of retail trade in March 2023 fell by 2.7 %, according to seasonally adjusted data at constant prices. Turnover of retail trade in food products declined by 9.3 %. Retail trade in non-food products (except for retail sale of automotive fuel) increased by 0.7 %, turnover of retail sale of automotive fuel – by 1.4 %.

As compared to the previous month, the most notable turnover growth was registered in retail sale of electrical household appliances in specialized stores (of 5.8 %), retail sale of cultural and recreation goods (4.9 %) and retail sale in stalls or markets (3.4 %). The largest turnover drop was registered in retail sale of cosmetics and toiletries (of 5.9 %), retail sale of clothing, footwear and leather goods (5.8 %) and retail trade in pharmaceutical and medical goods (3.9 %).

Compared to February, in March 2023 the total retail trade turnover at current prices (not taking into account seasonality) increased by 10.3 %.

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