Estonia’s retail sales grew at the fastest pace than expected in July, as compared to previous year, according to the figures released from Statistics Estonia.
Retail sales volume increased 10% year-on-year, at constant prices, following 7% growth in June.
Sales also increased 4% in May and 7% in June, compared to the corresponding month of the previous year, whereas in July the retail sales growth accelerated even more.
The pace of growth was the fastest since a 12% increase in February 2012. The rate of growth improved for the second straight month, the agency noted.
In July, sales of textiles, clothing and footwear registered a robust 27% growth and those of pharmaceutical goods and cosmetics grew 14%. The retail sales of automotive fuel increased 9% at constant prices compared to July 2013.
In July, the growth rate of retail sales in grocery stores accelerated by about 7%.
In contrast, retail sales in non-specialized stores selling predominantly industrial goods (e.g. department stores) were 12% smaller than in July of the previous year.
Month-on-month, retail sales increased 6% while on a seasonally-and-working-day adjusted basis, retail sales growth was 3%.
In July 2014, the retail sales of goods of retail trade enterprises amounted €448.7m, which was €341 per inhabitant.