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30.1.2024 | Estonia

The turnover of retail trade companies declined by 8% in 2023

Text Mark Taylor
Photo Andrei Chertkov

The turnover of retail trade companies declined by 8% in 2023

 

According to the preliminary data released by Statistics Estonia, the total turnover of retail trade companies in 2023 was 10.5 billion euros. Compared with 2022, turnover decreased by 8 per cent at constant prices.

“The biggest decline – 11 per cent – occurred in the turnover of stores selling manufactured goods. The turnover of enterprises engaged in the sale of automotive fuel decreased by 5 per cent and the turnover of grocery stores by 4 per cent,” explained Johanna Linda Pihlak, an analyst at Statistics Estonia.

The downtrend in retail trade turnover also continued in the last month of 2023. In December, the turnover of retail trade enterprises was 967 million euros, which was 5 per cent less than in December 2022

The turnover of stores selling manufactured goods fell by 7 per cent compared with December 2022. Turnover decreased the most, by 14 per cent, in other specialised stores selling predominantly computers and their accessories, books, sports equipment, games, toys, etc. A higher-than-average decline was also recorded in the turnover of stores selling second-hand goods and non-store retail sale (stalls and markets) (13 per cent), and stores selling textiles, clothing and footwear (8 per cent).

Compared with December 2022, the turnover of enterprises engaged in the sale of automotive fuel decreased by 10 per cent, but the turnover of grocery stores remained at the same level.

Compared with November 2023, the turnover of retail trade enterprises grew by 11 per cent in December, which was expected because of Christmas and year-end sales.

 

To learn more about this and similar topics
Automotive Fuel Christmas Grocery Stores Retail Trade Shopping Statistics Estonia Turnover

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