FM: Retail sales increased by 2.4% in the second quarter
July 29, 2022.
The information was prepared by Lelde Grīnvalde, Deputy Director of the Communication Department.
The first half of the year as a whole in the retail sector was spent with a 7.1% increase, which was influenced by the high increase in sales of non-food products by 14.2%. Retail sales of food grew by 2.5%, while fuel was sold by 0.6% less. However, it should be mentioned that the retail sales volume has a downward trend in the first half of the year, with growth reaching 12.7% in the first quarter, and only 2.4% in the second.
In the retail sector of Latvia in June of this year, for the first time since November of last year, the traded volumes decreased by 0.7% in comparable prices compared to June of last year, which was mainly determined by the decrease in the traded volumes of fuel, but in the first half of the year a total growth of 7.1% was recorded, according to Central Statistics the latest data of the administration. Since March of this year, retail sales volumes have been decreasing under the influence of high inflation and the cost of living, and there is no reason to expect significant increases in the following months.
See the full message on the website of the Ministry of Finance: https://www.fm.gov.lv/lv/jaunums/fm-mazumtirdzniecibas-apjomi-otraja-ceturksni-pieaugusi-par-24.
Additional information:
Tel.: (+371) 29681109
E-pasts: [email protected]
Ministry of Finance of the Republic of Latvia
Smilšu iela 1, Riga, LV-1919, Latvia
Homepage: [www.fm.gov.lv]www.fm.gov.lv
E-pasts: [[email protected]][email protected]
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