Estonian retail sales up 7 percent on year in March

30.04.2012, 10:52

Estonian retail sales in March were 7% higher at constant prices than a year earlier, according to Statistics Estonia.

Annual growth in retail sales has been decelerating since January when it stood at 16 percent. In February, retail sales were 13 percent higher than a year earlier.

March deceleration of the growth rate was partly influenced by the higher reference base of the previous year.

In March 2012, the retail sales of goods of retail trade enterprises were 342.5 million euros.

The sales increased in all economic activities. The retail sales in stores selling manufactured goods that slightly slowed down in February, decelerated even more in March. If in January those enterprises’ retail sales increased 23% during the year and in February 17%, then in March the increase was 11%. The retail sales in stores selling textiles, clothing and footwear increased the most, where the retail sales grew by a fourth during the year. Other specialized stores, such as stores selling computers and their accessories, photography supplies, books, sports equipment, games and toys (growth 15%) and stores selling pharmaceutical goods and cosmetics (growth 14%) were also successful.

The retail sales in grocery stores increased 6% compared to March of the previous year, but compared to previous months the retail sales growth rate slowed down. The growth in retail sales of these stores was influenced by the faster deceleration in the price increase of food products recently. If in March 2011 the annual price increase of food products was almost 12%, then in March this year about 3%.

In March compared to the previous month, the retail sales in retail trade enterprises increased by a tenth at constant prices. According to the seasonally and working-day adjusted data the retail sales decreased 1% compared to the previous month. During the three months of 2012 (January–March), the retail sales in retail trade enterprises increased 12% at constant prices compared to the corresponding period of the previous year.

In March the revenues from sales of retail trade enterprises were 429.9 million euros, out of which retail sales of goods accounted for 80%. Compared to March 2011, the revenues from sales increased by 15% at current prices. Compared to the previous month, this indicator increased 11%.