Sunday, June 16, 2024

Retail Trade Volumes In European Union On A Par With Last Year | ESM Magazine

Must read

In April 2024, seasonally adjusted retail trade volumes in the European Union experienced a slight decline of 0.1% compared to the same month the previous year, according to new data from Eurostat.

The volume of sales for food, drinks, and tobacco decreased by 0.1%, while sales for non-food products (excluding automotive fuel) increased by 0.1%. Sales of automotive fuel in specialised stores remained unchanged.

Bulgaria And Romania

Among individual markets, Bulgaria and Romania recorded the highest increase in retail sales volume in the European Union for April 2024, with both countries experiencing a notable 9.8% increase.

Additionally, Croatia (+8.6%), Slovakia (+8.6%), and Luxembourg (+7.3%) were among the countries that saw significant year-on-year increases in retail sales volumes for the month, as indicated by the Eurostat data.

The biggest decreases, meanwhile, were observed in Poland (-7.3%), Belgium (-5.8%) and Estonia (-4.9%).

Month-On-Month Data

On a month-on-month basis, the volume of retail trade in the EU experienced a decrease of 0.6%.

Specifically, food, drinks, and tobacco saw a decline in volume of 0.9%, while non-food products (excluding automotive fuel) remained stable. Automotive fuel sales in specialised stores decreased by 2.0%.

Slovakia saw the highest increase in retail sales on a month-on-month basis, with a rise of 2.4%. Bulgaria and Austria both experienced increases of 1.9%, followed by Portugal with a 1.7% increase. Conversely, Latvia (-3.3%), Cyprus (-3.1%), and Denmark (-2.7%) recorded the largest declines in retail sales volume.

The index of the volume of retail trade, adjusted for price changes and seasonal effects, provides an accurate representation of underlying trends in retail activity. This index, aggregated at the euro area and EU levels, reflects the overall retail trade volume across member states.

Within the countries that use the euro currency, specifically, the seasonally adjusted retail trade volume decreased by 0.5% on a month-on-month basis, while it remained stable on a year-on-year basis.

Latest article