FX.co ★ Estonia Retail Sales Continue To Fall

Retail sales in Estonia witnessed a decline at the beginning of the year, according to data from Statistics Estonia out on Monday. The retail sales experienced a faster downturn in January of 6.7% annually compared to the drop of 5.4% in December. The decline has been in effect since September 2022.

Stores vending manufactured goods recorded the most significant decrease in their turnover—approximately 27%, in stores conducting business online or via mail orders. Businesses offering hardware, building supplies, appliances, and household items reported a slump of 20.0% in turnover. Similarly, outlets selling textiles, clothing, and footwear noticed a drop of 9.0% in their sales.

On considering the monthly perspective, retail turnover sagged by a seasonally and working day adjusted 3.0% in January.