Retail Trade Turnover in January Jumps 6.2%

Total Croatia News

ZAGREB, March 11, 2020 – In January 2020, as compared to January 2019, retail trade turnover was 6.2% higher in real terms, which was the highest annual increase since February 2019, when it increased by 8.7%, the Croatian Bureau of Statistics said on Wednesday.

In January 2020, the total seasonally and working-day adjusted retail trade turnover was 2.7% higher than in December 2019 in real terms.

The real retail trade turnover has been growing since June 2019. In December 2019, the annual growth was 4.5%.

In January 2020, as compared to the same month of the previous year, retail trade turnover of food, beverages and tobacco increased by 4.3% and of non-food products (except of automotive fuels and lubricants) by 8%.

All trade branches realised a growth and the total gross retail trade turnover increased by 8.4% in nominal terms, as compared to January 2019.

The largest impact on the growth in the nominal turnover in January 2020, as compared to January 2019, according to unadjusted indices, was realised by non-specialised stores with food, beverages and tobacco with a growth of 7.9% in turnover as well as automotive fuels and lubricants recording a growth in turnover of 13.1%.

Raiffeisenbank Austria analysts say the latest data reflect the higher optimism in trade registered at the end of 2019. Moderate inflation, favourable conditions on the labour market and a high inclination to consumption have confirmed expectations that retail trade would have solid results in January 2020, they add.

They expect retail trade trends to remain favourable in Q1, while in the continuation of the year, notably in Q2, they expect it to be affected by the uncertainties and fears over coronavirus and its impact, notably on tourism turnover.

More economic news can be found in the Business section.


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