Home / Business and Politics / Croatia Among EU Leaders in Retail Trade Growth in November

Croatia Among EU Leaders in Retail Trade Growth in November

Croatia was among the EU countries with the highest retail trade growth in November, while Europeans slightly reduced their consumption on average, according to data from the European statistical office.

In the eurozone , retail trade fell by 0.3 percent in November compared to October, when it increased by 0.4 percent according to revised data, as shown by seasonally adjusted Eurostat data. At the level of the Union , trade decreased by 0.2 percent after rising by 0.5 percent in October, according to revised data.

The largest decline in November was recorded in the retail trade of non-food products, down by 0.4 percent in the eurozone and by 0.3 percent in the EU. There was also a slight decrease in the retail trade of food, beverages, and tobacco products, down by 0.1 percent in both areas. Conversely, trade at gas stations increased by 1.4 percent in the eurozone and by 0.4 percent in the EU.

Croatia Alongside Slovenia

The most significant decline in retail trade in November, according to seasonally adjusted data, was in Germany, down by 2.5 percent. Luxembourg and Austria followed with declines of 1.4 and 0.7 percent, respectively.

The largest increase was recorded in Portugal, up by 3.1 percent. Slovenia and Croatia followed with a retail trade growth of three percent compared to October. Croatia was also among the countries with the strongest monthly trade growth in October, at 3.1 percent.

Eurostat did not have data for the Czech Republic, Ireland, Greece, and Italy.

Deeper Decline

On an annual basis, retail trade decreased in November by 1.1 percent in the eurozone and by one percent at the Union level, calculated by the statistical office. In October, it had decreased by 0.8 percent in the eurozone and by 0.6 percent in the EU compared to the same month last year, according to revised Eurostat data.

The most significant decline in November was in the retail trade of fuel, down by 4.5 percent in the eurozone and by five percent in the EU. This was followed by the retail trade of food, beverages, and tobacco, with a decline of 0.7 percent in the eurozone and 0.5 percent in the EU.

The mildest decline was recorded in the retail trade of non-food products, down by 0.2 percent in both areas.

Surge in Spain

The largest annual decline in trade was recorded in Slovenia in November, down by 11.1 percent. In October, it had plummeted by 15.2 percent. Estonia and Hungary followed with declines of 8.8 and 5.4 percent compared to November 2022.

The strongest retail trade growth was recorded in Spain, up by 6.8 percent. In Croatia, retail trade in November, according to seasonally adjusted data, increased by 6.4 percent compared to the same month last year. In October, it had increased by 2.8 percent. Denmark followed with a trade growth of 6.3 percent.

Tagged: