Romania sees highest retail trade turnover growth in the EU

Romania’s retail trade turnover went up by 12% in September compared to the same month of last year, the highest increase of all the European Union member states. In the EU, the retail trade turnover went up by 3.7% on average while in the euro zone the increase was 2.9%, according to data released by the European Statistics Office (Eurostat). Ireland had the second highest increase in retail sales, of 8%, followed by Poland and the UK, with 6.3% each. Romania’s retail sales have been boosted by the Government’s decision to cut the VAT rate on food and soft drinks, starting June 1. This led to a significant increase in food sales, as the prices went down. editor@romania-insider.com