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3.1.2024 | Estonia

The shrinking economy is hitting shops hard

Text Mark Taylor
Photo Andrei Chertkov

The shrinking economy is hitting shops hard

 

According to data released by Statistics Estonia, in November 2023, the turnover of retail trade enterprises was 876 million euros. This was a decrease of 9 per cent at constant prices compared to November 2022.

“The decline in retail trade turnover in November was most affected by stores selling manufactured goods, as their turnover decreased by 12 per cent year on year. Turnover was down in most retail activities. Only the turnover of pharmacies and stores selling cosmetics increased by 3 per cent,” explained Johanna Linda Pihlak, an analyst at Statistics Estonia.

Among stores selling manufactured goods, the biggest decrease at 21 per cent was registered in the turnover of stores selling via mail order or the Internet. Turnover fell by 17 per cent in other specialised stores selling predominantly computers and their accessories, books, sports equipment, games, toys, etc., by 13 per cent in stores selling textiles, clothing and footwear, by 10 per cent in stores selling household goods and appliances, hardware and building materials, by 9 per cent in other non-specialised stores selling predominantly manufactured goods (department stores), and by 8 per cent in stores selling second-hand goods and non-store retail sale (stalls, markets, and direct sale).

Compared with November 2022, the turnover of grocery stores decreased by 2 per cent, and the turnover of enterprises engaged in the retail sale of automotive fuel by 11 per cent.

 

To learn more about this and similar topics
Economy Estonia Estonian Economy Grocery Stores Retail Trade Shopping Statistics Estonia

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