Hungary Retail Sales Down 8.3% y.o.y. in June

Figures

In June 2023, the volume of sales in retail trade in Hungary decreased by 7.8% according to raw data, and by 8.3% when adjusted for calendar effects compared to the same period of the previous year, according to data published by the Central Statistical Office (KSH).

Compared to June 2022, the volume of sales decreased by 4.8% in specialized and non-specialized food retailing. The volume of sales decreased by 5.2% in non-specialized food and beverages shops accounting for 75% of food retailing and by 4.2% in specialized food, beverage, and tobacco stores.

The turnover of non-food retailing decreased by a total of 4.3% in volume. Sales volumes rose by 4% in pharmaceutical, medical goods, and cosmetics shops, and remained largely unchanged in textiles, clothing, and footwear shops, while sales volumes decreased by 2.9% in books, computer equipment, and other specialized stores, by 5.3% in second-hand goods shops, by 11% in non-specialized shops dealing in manufactured goods and by 12% in furniture and electrical goods stores.

The volume of mail orders and internet retailing accounting for 7.7% of all retail sales and involving a wide range of goods fell by 4.5%.

The volume of sales in automotive fuel stations was 24.2% down compared to June 2022.

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 1.56 trillion at current prices.

Specialized and non-specialized food shops accounted for 49% of all retail sales, the relevant figures for non-food retail trade and retail trade of petrol stations were 35% and 16%.

On the other hand, retail sales went up by 0.7% compared to May 2023, KSH notes.

Jan-Jun Retail Sales Down More Than 10%

The volume of retail trade decreased by 10.3% in January-June 2023.

Sales fell by 7.5% in specialized and non-specialized food shops, by 8% in non-food retail trade, and by 22% in automotive fuel retail trade.

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