Latvia Retail Sales Shrink in May

Retail

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Retail sales in Latvia fell by 1% year-on-year in May, following an upwardly revised 3.1% decline in the prior month, data from the Riga-based Central Statistical Bureau (CSB) on Thursday show.

It marks the third consecutive month of shrinking retail activity, although at a more moderate pace.

Lower sales were mainly recorded for retail trade in non-specialized stores selling mainly non-food products (-15.8%); information and communication equipment in specialized stores (-7.8%); cultural and recreation goods (-6.5%) and food products (-6.2%).

Meanwhile, the biggest increases were registered for retail sale of clothing, footwear and leather goods (7.4%); pharmaceutical and medical goods (6.5%) and hardware, instruments, construction materials and sanitary equipment (4.2%).

On a monthly comparison basis, retail trade rose by 0.6% in May, after a 1.3% increase in the prior month. 

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