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Financial News: Estonia Retail Sales Fall Further

Estonia Retail Sales Fall Further

01/30/2024 - 01:49:00 (RTTNews)

(RTTNews) - Estonia's retail sales continued to decline at the end of the final quarter, data from Statistics Estonia showed on Tuesday.

Retail sales fell 5.4 percent annually in December, though slower than the 8.8 percent fall in November. Sales have been falling since September 2022.

Retail turnover decreased the most, by 14 percent, in other specialised stores selling predominantly computers and their accessories, books, sports equipment, games, and toys, the agency said.

There was a notable 7.0 percent lower sale in stores selling manufactured goods.

Monthly retail sales rebounded sharply by 11.3 percent in December, which was expected due to Christmas and year-end sales. In November, sales dropped by 0.7 percent.

During the whole year 2023, overall retail sales in Estonia declined by 8.0 percent compared with 2022. An 11.0 percent slump occurred in the turnover of stores selling manufactured goods, which influenced the decline the most.

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