Retail sales in Slovakia dropped further in July. According to data from the Slovak Statistics Office (ŠÚ), retail sales in July totalled €1.5 billion, a year-on-year drop of 2 percent. It was the worst year-on-year development in retail sales since the end of last year, the SITA newswire reported, citing the ŠÚ. Retail in July was the only domestic sector that also posted a drop in sales on a monthly basis - by 0.7 percent. For the first seven months of this year, retail sales amounted to €10.067 billion, down 0.1 percent on the same period a year ago.
The retail sales figures in July were influenced mainly by reduced sales of so-called other household equipment in specialised outlets (by 7.2 percent), other goods in specialised stores (by 3.9 percent) and retail sales outside stores, kiosks and markets (by 2.9 percent). Retail sales increased only in the motor fuels (by 2.2 percent) and in retail trade in non-specialised stores (by 0.6 percent).
Sales in wholesale in July increased by 4 percent, to reach €1.947 billion. The highest growth was in wholesale agricultural production and live animals – up 19.4 percent – and in food products, beverages and tobacco, by 6.9 percent. Sales in wholesale dropped in non-specialised outlets by 0.4 percent.
Retail sales in Slovakia have been declining for three years. The sector has suffered from the impact of the economic crisis as well as from shopping tourism, resulting in 2009 in a year-on-year drop in retail sales of over 10 percent. Retail sales fell again in the following two years; in 2011 by 2.8 percent. Continued weak consumer demand currently holds out little significant prospect of a resumption of stronger growth in retail sales.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
5. Sep 2012 at 14:00