Statistics: Retail sales growth slows in May | Economy

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Johanna Linda Pihlak, analyst at Statistics Estonia, said: “The increase in turnover in May was mainly influenced by companies engaged in the retail sale of automotive fuel, where turnover increased by 8 % compared to the May 2021 figure”.

The year-over-year increase in retail sales was 12% in April, meaning growth slowed in May, Pihlak added.

Between April and May, the turnover of retail trade enterprises increased by 7%, added Statistics Estonia, although according to seasonally and working day adjusted data, the turnover remained unchanged by compared to April.

The turnover of retail businesses increased by 9% from January to May 2022, compared to the same five-month period in 2021.

Retail sales through May 2022. Source: Statistics Estonia

By sector, the strongest growth (27%) was recorded in the turnover of second-hand shops and non-store retail sales (stalls, markets, direct sales, etc.), over one year to May.

Sales increased by 17% in other specialized stores selling mainly computers and their accessories, books, sports equipment, games, toys, etc.

A slightly smaller increase was recorded in the turnover of other non-specialty stores selling mainly manufactured goods, namely department stores (by 6%), and in pharmacies and stores selling cosmetics (3%) .

For stores selling manufactured goods, revenue rose 3% year on year through May, the agency said.

Turnover fell in stores selling by mail or on the Internet (by 12%), in stores selling textiles, clothing and footwear (by 9%), and in those selling household goods and appliances, hardware and building materials (4%).

Grocery store sales were down 1% from May last year.

The statistics presented above are based on VAT declaration data from the Estonian Tax and Customs Agency (MTA).

The Statistical Office of Estonia carries out its monthly report “Financial statistics of business enterprises” on behalf of the Ministry of Economic Affairs and Communications.

More detailed information is here.

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