Romania’s retail trade sees largest growth in the EU

Romania’s retail trade turnover increased by 9.6% in July 2015 compared with the same month last year. It was the largest annual growth recorded among EU member countries. In the euro zone, the retail trade went up by 2.7% in July year-on-year, whereas the European Union saw a growth of 3.3%. Romania’s retail trade was boosted by food, beverages and tobacco sales, which increased by 23.1% in July compared to July 2014, mainly due to the VAT rate cut on food starting June 1 this year. Non-food sales also increased by 1.6% while fuel sales in specialized shops went up by 5.8%. Compared to the previous month, Romania’s retail trade turnover rose by 1.1% in July. Food and beverage sales increased by 5.8% and fuel sales went up by 18.2%, driven by the holiday season and the lower fuel prices. In the first seven months of this year, the retail trade turnover increased by 5.6% compared to the same period of last year. Again, food and beverages were the main growth engine, with a 13.3% increase, followed by fuels, which had a 5.8% increase. Non-food sales were almost unchanged year on year. editor@romania-insider.com