Retail figures down 2.8% on year in Latvia

Calendar-adjusted data (at constant prices) published on November 29 by the Central Statistical Bureau (CSB) show that, compared to October 2022, in October 2023 total retail trade turnover reduced by 2.8 %.

Turnover of retail trade in food products declined by 0.5 %. Retail trade in non-food products (except for retail sales of automotive fuel) decreased by 3.6 %, but the turnover of retail sales of automotive fuel – by 4.8 %.

Compared to October 2022, the most significant turnover rise was registered in retail sales in stalls or markets (of 8.5 %), retail sale of information and communication equipment in specialized stores (7.7 %) and retail sale of cultural and recreation goods (2.3 %). In turn, the turnover rise in retail sale of clothing, footwear and leather goods (of 20.1 %) and turnover drop in retail sale in non-specialized stores selling mainly non-food products (21.7 %) was affected by the change in kind of primary economic activity of separate enterprises. Significant turnover decline was registered in retail sale via mail order houses or via Internet (of 11.9 %) and retail sale of hardware, instruments, construction materials and sanitary equipment (8.6 %).

Total retail trade turnover at current prices fell by 1.3 % (not taking into account the calendar influence).

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Compared to September, the total turnover of retail trade enterprises in October 2023 rose by 0.7 %, according to seasonally adjusted data at constant prices. Turnover of retail trade in food products declined by 0.9 %. Retail trade in non-food products (except for retail sales of automotive fuel) increased by 3.3 %, but the turnover of retail sale of automotive fuel – reduced by 2.4 %.

As compared to the previous month, a significant turnover increase was registered in the retail sale of clothing, footwear and leather goods (of 23.0 %), retail sale of information and communication equipment in specialized stores (8.8 %) and retail sale of cultural and recreation goods (5.8 %). The most significant turnover drop was recorded in retail sale of electrical household appliances in specialized stores (of 5.5 %).

Compared to September, in October 2023 the total retail trade turnover at current prices (not taking into account seasonality) increased by 0.6 %.

 

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