30.1.2023 | Estonia

Turnover of retail businesses increased by 2% in 2022

Text Mark Taylor
Photo Andrei Chertkov

According to preliminary data published by Statistics Estonia, the total turnover of retail trade enterprises in 2022 was 10.5 billion euros. An increase of 2 per cent at constant prices compared to 2021.

“In 2022, turnover increased the most, by 12 per cent, in enterprises engaged in the retail sale of automotive fuel, whereas in stores selling manufactured goods, turnover rose by 3 per cent. However, turnover decreased by 3 per cent in grocery stores,” explained Johanna Linda Pihlak, an analyst at Statistics Estonia.

In December 2022, the turnover of retail trade enterprises was 996 million euros, which was 7 per cent less than the same month in 2021.

The decline in retail trade turnover in December was influenced the most by stores selling manufactured goods, where turnover fell by 11 per cent year on year.

“Turnover was down in most sectors, except for pharmacies and stores selling cosmetics, in which turnover was up by 7 per cent,” Pihlak added.

Among stores selling manufactured goods, turnover fell the most, by 27 per cent, in stores selling via mail order or the internet. The drop in turnover was also above average in stores selling household goods and appliances, hardware and building materials (16 per cent) and in other specialised stores selling computers and their accessories, books, sports equipment, games, toys, etc., (12 per cent).

Compared with December 2021, the turnover of grocery stores decreased by 8 per cent and the turnover of enterprises engaged in the retail sale of automotive fuel increased by 12 per cent.

Compared with November 2022, the turnover of retail trade enterprises grew by 7 per cent in December, which was expected due to the Christmas and new year sales.