Retail sales in Turkey see 0.2 percent decrease in May
Date
7/11/2024 8:25:46 AM
(MENAFN) Turkey’s retail sales experienced a slight decrease of 0.2 percent on a monthly basis in May, as reported by the country's statistical bureau, TurkStat, on Thursday. This marginal drop followed a more substantial downward revision of 1.9 percent month-on-month decline recorded in April. The data provided by TurkStat showed a nuanced picture of the retail landscape, with varying performance across different categories of goods.
In May, the retail sales volume for non-food items, excluding automotive fuel, fell by 0.2 percent, while the sales volume for automotive fuel saw a more pronounced decrease of 1.1 percent. Conversely, the sales of food, drinks, and tobacco experienced a modest climb of 0.1 percent on a monthly basis. Within the non-food items category, the most significant monthly increase was observed in sales conducted via mail orders and the internet, which surged by 1.8 percent. On the other hand, electronic goods and furniture witnessed the largest month-on-month decline, falling by 0.8 percent.
Looking at the annual trends, retail sales in Turkey increased by 5.8 percent in May, although this represented a deceleration from the 10.2 percent annual increase noted in April. Non-food sales, excluding automotive fuel, saw an 8.3 percent rise, while sales of food, drinks, and tobacco grew by 8.1 percent year-on-year. However, automotive fuel sales dropped significantly by 9.2 percent over the same period. Among non-food items, sales conducted through mail orders and the internet enjoyed the largest year-on-year increase, soaring by 18.8 percent. Additionally, sales of medical goods and cosmetics also saw a robust annual growth of 13.6 percent in May, according to TurkStat data.
These figures illustrate a mixed performance in Turkey’s retail sector, with certain segments such as online sales and essential goods like food and medical supplies showing resilience and growth, while other areas, particularly automotive fuel and specific non-food items like electronics and furniture, faced declines. The overall retail environment reflects the varied impacts of economic conditions and consumer behavior on different product categories.
MENAFN11072024000045015839ID1108431956
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.