When compared to 2022, the turnover of Latvian retail trade companies went down by 2.7% in August, according to calendar corrected data from the Central Statistical Bureau of Latvia (CSP).
Retail trade turnover of food products went down as well – by 2.7%. The turnover of non-food products, except auto fuel retail trade, went down by 3.4%. The retail trade volume of auto-fuel went down by 1.2%.
Compared to August 2022, the biggest increase in turnover was observed in retail trade of clothes, footwear and leather goods – by 14.4%,
retail trade of market stalls and markets – by 7.5% and ICT equipment trade in various specialised stores – by 4.8%. A drop of turnover was observed in unspecialised stores that mostly sell non-food goods – by 36.2%, retail trade of culture and leisure goods – 9.7% and retail trade of household electrical appliances – by 6.9%.
CSP reports that the total turnover of retail trade companies in actual prices, excluding calendar day data, went down by 0.5% in August 2023 when compared to August 2022.
Additionally, compared to July 2023 (according to seasonally adjusted data), turnover of retail trade companies in comparable price went down by 0.4% in August 2023.
Retail trade turnover of food products went up by 0.5% over the course of the month. The volume was non-food products, except for auto fuel retail trade, went down by 1%. Retail trade of auto fuel went down by 0.6%.
Compared to the previous month, the biggest increase of retail trade was for household electrical appliances – by 6.8%, ICT technologies in specialist stores – by 6.4%, and retail trade in market stalls and markets – by 2.2%. The biggest drop in retail trade was observed in unspecialised stores that mostly sell non-food products – by 5.5%, culture and leisure goods – by 4.7% and mail-order and online retail trade – by 3.5%, the report from CSP mentions.
Compared to July, the total turnover of retail companies in actual prices (excluding seasonality) went up 2.4% in August 2023.
Also read: Bank of Latvia upgrades inflation outlook for 2023 to 9%