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Friday 22.02.2019 | Name days: Rigonda, Adrians, Ārija
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Opinion: this April marked the beginning for increased buyers’ activity

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This April’s retail trade turnover reached 10.5%, which is its highest index in the past two years, says Swedbank economist Kristilla Skruzkalne.

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUWhile the beginning of the month seemed diffident at the beginning of the year and residents were mostly careful with their expenses, April 2014 put this trend to rest with retail trade turnover reaching 11%, explains Skruzkalne.

‘Warm weather and the fact that Easter fell on April this year may have played a role in this. This little fact changed our base for calculation of annual growth. In comparison with 2014, April of 2013 was weaker in terms of expenses,’ – she explains.

She also notes that the reason for such a rapid growth may be the rise of wages in Q1 (+9%), and the fact that residents have gotten used to euro currency.

Residents have spent relatively more money on clothes, food products, cosmetics and sports goods this year than they did in 2013, she adds.

Goods like household electrical appliances, furniture and video equipment seem to be less demanded this year.

‘It is likely growth in retail trade will not exceed a two-digit rate in the next several months. Growth will continue at a stable and moderate pace if not interrupted by some negative event related to the development of the Russian-Ukrainian conflict,’ – predicts Skruzkalne.

As previously reported, turnover of Latvia’s retail trade companies had increased 2.5% this April in comparison with April 2013. Compared with April 2013 and in comparison with calendar adjusted data of the Central Statistical Bureau of Latvia, turnover in comparable prices had grown 10.5%.

Total turnover of retail trade companies in actual prices (excluding seasonality) has grown 4% this April in comparison with March and by 1.5% in comparison with March 2013.

Ref: 103.109.109.5763


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