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Recent statistics show that in June of this year, the retail trade turnover in Latvia was 5.6% higher than that of a year ago. In the first half of 2018, retail sales rose by 5.3%. A good growth rate was recorded in June in grocery stores, with a 6.4% increase in sales compared to the previous year. A smaller increase was recorded in non-food retail sales. Among non-food products, the rapid growth in turnover continued with the construction and repair of real estate, while the retail trade in metal products, paints and glbad advanced 21.2% in June. The FM explained this with a significant increase in activity in the construction sector, and given construction prospects this year, retail sales of these goods are expected to increase in the coming months
. , 8%, while the retail sale of computer equipment increased by 10.5%. Despite the sharp rise in fuel prices in June, sales rose 4.8% in one year
. In June, the retail sale of footwear, clothing and leather goods registered a significant decline of 12.1% per year. The other non-food groups, which recorded a decline in sales in June, are for example the retail sale of household appliances and the retail sale of goods for cultural and recreational goods, but considering these decreases In addition, the decline in sales continued in retail sales outside stores, stands and markets, as well as in mail-order stores and Internet stores. or 5.7%, respectively. 8.5% per year. However, despite these declines, overall retail trade growth was relatively strong in June of this year, slightly outpacing total performance for half of the year.
Private consumption is relatively modest, influenced by, among other things, wage growth and falling unemployment. opportunities. These improvements are reflected in the retail data and it is expected that the second half of the year will be marked by good commercial results. This is also confirmed by the latest survey results conducted by the European Commission, showing that the level of economic confidence of Latvian retailers and consumers in July of this year has improved slightly compared to the previous month. Retailers, for example, expect an increase in orders and an increase in employment in the company over the next three months. Consumers are optimistic about labor market prospects over the next twelve months.
In June this year, compared with June 2017, the total retail business turnover, at constant prices, rose by 5.6%.
Food retailing increased 6.4%, non-food retail trade, excluding retail motor fuels, increased 5.1%, while retail sales of motor vehicles accounted for 4.8%. Compared to June of the previous year, metal products, tools, building materials and plumbing (21.2%), communication and information equipment (10.5% ), as well as the retail trade of pharmaceutical and medical products (13.8%).
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