Retail sales growth rate decelerated even more in March
According to Statistics Estonia, in March 2012 compared to March of the previous year, the retail sales of goods of retail trade enterprises increased 7% at constant prices.
This January the retail sales increased 16% compared to the same month of the previous year. In February the retail sales growth rate slowed down slightly, but still achieved a significant 13% growth. In March the retail sales growth rate decelerated even more. The deceleration of the growth rate was partly influenced by the higher reference base of the previous year.
In March 2012, the retail sales of goods of retail trade enterprises were 342.5 million euros. The sales increased in all economic activities. The retail sales in stores selling manufactured goods that slightly slowed down in February, decelerated even more in March. If in January those enterprises’ retail sales increased 23% during the year and in February 17%, then in March the increase was 11%. The retail sales in stores selling textiles, clothing and footwear increased the most, where the retail sales grew by a fourth during the year. Other specialized stores, such as stores selling computers and their accessories, photography supplies, books, sports equipment, games and toys (growth 15%) and stores selling pharmaceutical goods and cosmetics (growth 14%) were also successful.
The retail sales in grocery stores increased 6% compared to March of the previous year, but compared to previous months the retail sales growth rate slowed down. The growth in retail sales of these stores was influenced by the faster deceleration in the price increase of food products recently. If in March 2011 the annual price increase of food products was almost 12%, then in March this year about 3%.
In March compared to the previous month, the retail sales in retail trade enterprises increased by a tenth at constant prices. According to the seasonally and working-day adjusted data the retail sales decreased 1% compared to the previous month. During the three months of 2012 (January–March), the retail sales in retail trade enterprises increased 12% at constant prices compared to the corresponding period of the previous year.
In March the revenues from sales of retail trade enterprises were 429.9 million euros, out of which retail sales of goods accounted for 80%. Compared to March 2011, the revenues from sales increased by 15% at current prices. Compared to the previous month, this indicator increased 11%.
Retail sales volume index of retail trade enterprises and its trend, January 2002 – March 2012 (2005 = 100)
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As of 2012 Statistics Estonia uses the Estonian Tax and Customs Board’s data on enterprises with one employee for the preparation of monthly retail trade statistics.