FX.co ★ Latvia Retail Sales Growth Steady At 3.4%

In the concluding month of 2024, Latvia's retail sector maintained a steady growth pace, as reported by the Central Statistical Bureau on Monday.

According to the data, retail sales rose by a calendar-adjusted 3.4% year-on-year in December, consistent with the growth observed in November. This marks a continuous rise in sales since July.

Breaking down the figures, the turnover in retail trade for non-food items, excluding automotive fuels, saw an annual increase of 7.2%. In contrast, sales of food products experienced a decline of 1.7%.

Automotive fuel sales showed a 2.0% uptick, and retail activities conducted through mail order houses or online channels also rose by 3.0%.

On a monthly comparison, seasonally adjusted retail sales reported a more moderate growth of 0.5% in December, following a more substantial 1.4% rise in November.

Across the entirety of 2024, retail trade turnover showed a year-over-year growth of 1.0% when compared with 2023.