Decline in the turnover of retail trade enterprises accelerated to 13% in March
According to Statistics Estonia, in March, the turnover of retail trade enterprises was 868 million euros. Compared with March 2022, turnover decreased by 13% at constant prices.
Johanna Linda Pihlak, analyst at Statistics Estonia, said that while turnover in February fell by 6% compared with the same month last year, the decline accelerated in March. The drop in turnover in March was most affected by stores selling manufactured goods, where turnover fell by 18% year on year. “The fall of turnover in these stores was influenced by the higher reference base of March last year, and the continued rise in prices has started to increasingly constrain people's consumption,“ Pihlak added.
Among stores selling manufactured goods, turnover decreased the most, by 28%, in other specialised stores selling predominantly computers and their accessories, books, sports equipment, games, toys, etc. Turnover declined by 21% in stores selling household goods and appliances, hardware and building materials, by 14% in stores selling via mail order or the internet, by 9% in stores selling second-hand goods and non-store retail sale (stalls, markets, and direct sale), by 8% in other non-specialised stores selling predominantly manufactured goods (department stores), by 6% in stores selling textiles, clothing and footwear, and by 3% in pharmacies and stores selling cosmetics.
Compared with March 2022, the turnover of grocery stores decreased by 9% and turnover of enterprises engaged in the retail sale of automotive fuel by 3%.
In March compared with February, the turnover of retail trade enterprises increased by 17%. According to the seasonally and working-day adjusted data, turnover was unchanged compared with the previous month.
In the first three months of 2023 (January–March), the turnover of retail trade enterprises decreased by 9% compared with the same period of the previous year.
The statistics are based on the VAT declaration data of the Estonian Tax and Customs Board. Statistics Estonia performs the statistical activity “Financial statistics of trade enterprises (monthly)” for the Ministry of Economic Affairs and Communications in order to determine how the Estonian economy is doing.
See also the internal trade section on our website.
More detailed data have been published in the statistical database.
For further information:
Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Tel +372 625 9181
press [at] stat.ee