Volume of retail sales in Türkiye surges 13.3 percent annually in August
Date
10/13/2024 8:09:12 AM
(MENAFN) On Friday, the Turkish Statistical Institute (TurkStat) reported a 5.3 percent year-on-year increase in the total retail sales volume for August in Türkiye, indicating a positive trend in consumer spending. The data also revealed that trade sales experienced a similar rise of 5.3 percent during the same period. These figures suggest a strengthening retail environment and a growing consumer confidence within the country.
Delving deeper into specific categories, retail sales for food, drinks, and tobacco surged by 11.3 percent in August, reflecting heightened demand in these essential areas. Non-food retail sales saw even more impressive growth, increasing by 17 percent, which highlights a robust interest in a wide range of consumer goods. Additionally, automotive fuel sales experienced a modest rise of 2 percent, while trade conducted via mail orders and the internet expanded significantly by 20.1 percent, showcasing the increasing importance of e-commerce in Türkiye's retail landscape.
On a monthly basis, the trade sales volume increased by 2.9 percent in August, demonstrating continued growth compared to the previous month. The retail sales volume index also saw a rise of 2.2 percent, reinforcing the upward trajectory of consumer spending. These monthly gains indicate a consistent recovery in the retail sector, suggesting that consumers are becoming more active in their purchasing behavior.
Furthermore, wholesale trade sales volume increased by 3.5 percent in August compared to the same period last year. This growth in wholesale activity points to a broader demand for goods, which could also be contributing to the positive retail sales figures. The overall trends in retail and wholesale sales reflect a dynamic market environment, underscoring the resilience of Türkiye's economy amidst various challenges.
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