Retail turnover continued to grow year-on-year, but only at a very slight pace

March´s retail turnover rose year-on-year, though more slowly than in the first two months of the year. There was an increase mainly due to a turnover growth especially in the large components of retail trade, i.e. in e-shops as well as in hyper- and supermarkets. More dynamic turnover slumps continued in fuel sales.

Retail turnover¹⁾ maintained its growth in March, compared to the corresponding period last year, and increased by 0.5% after adjusting for the effect of inflation. The growth rate in the third month was significantly slower than in the previous two months.

The Statistical Office of the SR points out that starting from the data for January 2024, the monthly data on internal trade (retail trade and other structures of internal trade) were recalculated in the entire time series due to methodological adjustments – transition to a new base period (from 2015 to 2021) and application of the concept of business units of the enterprise (PDF – 183 kB). The change also affected all the other sectoral statistics.

Year-on-year turnover growth at constant prices was achieved by a total of 6 out of 9 components of retail trade. The most significant positive impact was the turnover growth of e-shops (sale outside stores, stands and markets) by 15.7%, as well as an increase in turnover of hyper- and supermarkets (non-specialized stores) as well as hobby markets and stores of electrical appliances or furniture (stores with other household goods) up to 4%.

On the contrary, the overall result of the sector was dampened by the declines in gas stations´ turnover (fuel sales) by almost 21% and ICT stores by 36% (specialized sales of ICT equipment).

Download high resolution chart format PDF (99 kB) or PNG (347 kB).

Year-on-year development of other components of trade in March 2024

Other components of internal trade recorded a year-on-year turnover decrease in March, by almost 10% in sale and repair of motor vehicles¹⁾ as well as in wholesale²⁾, a slighter decrease of less than 4% in accommodation¹⁾. For 19 consecutive months, a positive trend in a year-on-year turnover growth was maintained by food and beverage service activities¹⁾, this March currently reaching a 4% higher turnover than last year.

Download high resolution chart format PDF (111 kB) or PNG (250 kB).

Month-on-month development in March 2024 compared to February 2024

In March, turnover after seasonal adjustment month-on-month³⁾ decreased in most sectors of internal trade. In sale and repair of motor vehicles¹⁾ it decreased by 2.7%, in wholesale²⁾ by 2.9%, in retail trade¹⁾ by 0.6%, it dropped more dynamically in accommodation¹⁾ by 8.6%. A positive development was recorded only in food and beverage service activities), where turnover increased by 8.3% month-on-month.

Development for 2024

In total for the first three months of 2024, turnover rose year-on-year in sale and repair of motor vehicles¹⁾ by 0.4%, in retail trade¹⁾ by 2.4% and in food and beverage service activities¹⁾ by 5%. Year-on-year lower turnover would be recorded only by wholesale²⁾ by 4.8%. Turnover in accommodation¹⁾ remained at the level of last year.