Retail Sales Down 4.5% y.o.y. in January

Retail

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In January 2023, the volume of sales in retail trade in Hungary decreased by 3.9% according to raw data, and by 4.5% when adjusted for calendar effects compared to the same period of 2022, according to data published by the Central Statistical Office (KSH).

According to calendar-adjusted data, the volume of sales decreased by 4.8% in specialized and non-specialized food retailing. The volume of sales decreased by 6.7% in non-specialized food and beverages shops accounting for 76% of food retailing and rose by 0.3% in specialized food, beverage, and tobacco stores.

The turnover of non-food retailing decreased by a total of 1.5% in volume. Sales volumes rose by 13% in textiles, clothing, and footwear shops, by 5.6% in books, computer equipment and other specialized stores, remained unchanged in second-hand goods shops, while sales volumes decreased by 1.9% in non-specialized shops dealing in manufactured goods, by 2.7% in pharmaceutical, medical goods and cosmetics shops and by 6.5% in furniture and electrical goods stores.

The volume of mail order and internet retailing accounting for 8.6% of all retail sales and involving a wide range of goods fell by 7.6% compared to January 2022.

The volume of sales in automotive fuel stations decreased by 9.7%, KSH notes.

Sales in motor vehicles and motor vehicle parts and accessories stores not belonging to retail data increased by 3.9%.

In January 2023, domestic retail sales amounted to HUF 1.333 trillion at current prices. Specialized and non-specialized food shops accounted for 48% of all retail sales, while the relevant figures for non-food retail trade and retail trade of petrol stations were 34% and 18% respectively.

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