28.4.2023 | Estonia
The decline in the turnover of retail and online stores accelerated in March
Text Mark Taylor
Photo Andrei Chertkov
According to data just released by Statistics Estonia, in March, the turnover of retail trade enterprises was 868 million euros. Compared with March 2022, turnover decreased by 13 per cent at constant prices.
“While turnover in February fell by 6 per cent 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 28 per cent 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,“ said Johanna Linda Pihlak, an analyst at Statistics Estonia.
Turnover also declined by 21 per cent in stores selling household goods and appliances, hardware and building materials, and by 14 per cent in stores selling via mail order or the Internet.
Compared with March 2022, the turnover of grocery stores decreased by 9 per cent, and the turnover of enterprises engaged in the retail sale of automotive fuel by 3 per cent.
In the first three months of 2023 (January–March), the turnover of retail trade enterprises decreased by 9 per cent compared with the same period in 2022.
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