Retail Sales in Hungary Down Significantly in May
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In May 2023, the volume of sales in retail trade – along with a significant base effect - decreased by 12.7% according to raw data and by 12.3% when adjusted for calendar effects compared to the same period of the previous year, the Central Statistical Office (KSH) says.
Compared to May 2022, the volume of sales decreased by 7.3% in specialized and non-specialized food retailing. The volume of sales decreased by 8.2% in non-specialized food and beverages shops accounting for 75% of food retailing and by 4% in specialized food, beverage, and tobacco stores.
The turnover of non-food retailing decreased by a total of 10.9% in volume. Sales volumes rose by 4.6% in pharmaceutical, medical goods, and cosmetics shops, while sales volumes decreased by 5.9% in books, computer equipment, and other specialized stores, and by 16-16% in second-hand goods shops and textiles, clothing, and footwear shops, and by 20-20% in non-specialized shops dealing in manufactured goods and furniture and electrical goods stores.
The volume of mail orders and internet retailing accounting for 8% of all retail sales and involving a wide range of goods fell by 9.3%.
The volume of sales in automotive fuel stations was 25.9% down on the same month last year.
Sales in motor vehicles and motor vehicle parts and accessories stores not belonging to retail data decreased by 6.9%.
Domestic retail sales amounted to HUF 1.514 trillion at current prices in May 2023. Specialized and non-specialized food shops accounted for 49% of all retail sales, while the relevant figures for non-food retail trade and retail trade of petrol stations were 35% and 16%, respectively.
Jan-May Retail Sales Down More Than 10%
The volume of retail trade decreased by 10.8% in January-May 2023, compared to the same period a year before.
The volume of sales fell by 8% in specialized and non-specialized food shops, by 8.7% in non-food retail trade, and by 21.5% in automotive fuel retail trade.
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