Croatia at the Top of the European Union with Retail Sales Growth

Seasonally adjusted retail sales in the eurozone slipped by 0.1 percent in March compared to the previous month, when it had increased by 0.2 percent according to revised data calculated by Eurostat.

The EU also recorded only a marginal decline in sales in March, following stagnation in February, according to revised data. The slight decline in eurozone sales is accompanied by a decrease in the sales of food, beverages, and tobacco products, as well as a broad category of non-food products. At the EU level, the sales of food and tobacco products decreased by 0.4 percent compared to February.

Sales at gas stations in the eurozone and the EU recorded the same percentage increase, statisticians calculated. Among the countries for which Eurostat had data, Slovenia recorded the largest monthly decline in sales in March, at two percent. This was followed by Estonia and Slovakia, where sales decreased by 1.3 and 0.9 percent, respectively.

Conversely, sales in Malta increased the most, by two percent. Croatia and Belgium followed with a retail sales growth of 1.4 percent in March compared to February. The monthly comparison thus shows a strong recovery in sales in Croatia, given that it had fallen by 0.9 percent in February.

In the group of countries with the most pronounced retail sales growth, Eurostat also highlighted Bulgaria, where sales increased by 1.1 percent. Statisticians did not have data for the Czech Republic, Greece, and Romania. On an annual basis, seasonally adjusted retail sales in the eurozone increased by 1.5 percent in March, and by 1.4 percent in the EU, as determined by Eurostat.

In February, it had increased by 1.9 percent in the eurozone and by 1.8 percent in the EU, according to revised data. The largest sales growth in March was also recorded in stores of broad categories of non-food products, in both areas, by approximately 2.5 percent. Sales in fuel retail also increased, by 0.9 percent in the eurozone and by 1.7 percent at the EU level. In food, beverage, and tobacco stores, sales in the eurozone increased by 0.6 percent, and by only 0.1 percent at the Union level.

The strongest annual sales growth in March was recorded in Luxembourg, at 9.4 percent, according to Eurostat data. This was followed by Bulgaria and Cyprus, where sales increased by 5.4 and five percent, respectively. In Croatia, retail sales in March increased by 3.6 percent compared to the same period last year. In February, it was higher by 2.6 percent. The largest sales decline was recorded in Slovakia, at 2.9 percent. This was followed by Poland and Italy with sales declines of 1.8 and 1.4 percent, respectively.