Estonia’s retail trade woes continue
Text Mark Taylor Photo Andrei Chertkov
According to data released by Statistics Estonia, retail trade turnover in the country in June 2024 amounted to 866 million euros, marking a 5 per cent decrease compared to June 2023. This decline is attributed largely to a significant drop in sales at stores specialising in manufactured goods.
Johanna Linda Pihlak, an analyst at Statistics Estonia, explained that the downturn in retail trade volume was most pronounced among stores selling manufactured goods, with their turnover decreasing by 9 per cent year on year. Within this category, stores dealing in textiles, clothing, and footwear saw the steepest drop, with a 17 per cent reduction in turnover. Additionally, stores selling household goods, appliances, hardware, and building materials experienced a notable decrease of 16 per cent in their turnover volume.
Other segments that saw declines included second-hand goods stores and non-store retail sales, such as stalls and markets, where turnover fell by 11 per cent. Non-specialised stores selling predominantly manufactured goods, like department stores, also saw a 10 per cent drop. Conversely, specialised stores that focus on items such as computers, accessories, books, sports equipment, games, and toys, reported a 2 per cent increase in turnover.
In the grocery sector, turnover decreased by 4 per cent compared to June 2023, while retail businesses involved in automotive fuel sales saw a 2 per cent increase.
Month-over-month, retail trade turnover dropped by 3 per cent from May to June. After adjusting for seasonal and working-day variations, turnover was down by 1 per cent from the previous month.
In the first half of 2024, the turnover volume of retail trade enterprises decreased by 4 per cent compared to the same period last year.
To learn more about this and similar topics
Estonia Economics
June 2024
Retail Sales Drop
Retail Sales Volume
Retail Trade
Retail Trends in Estonia
Statistics Estonia
