Romania’s retail trade turnover goes up in five months

The retail trade turnover in Romania, except for cars and motorcycles, increased by 4% in the first five months of the year in gross series, compared to the same period in 2014. The growth was registered due to the 9.3% increase in the sales of food, beverages and tobacco, and to the 6.7% rise in fuel retail trade in specialized stores. The sale of non-food products dropped 1.4%, according to recent data from the National Statistics Institute INS. In May 2015, the retail turnover, except trade of motor vehicles and motorcycles, decreased by 2% month-on-month in gross series. The drop was caused by the 4.7% decrease in sales of food, beverages and tobacco, and the 1.3% decrease in fuel retail trade in specialized stores. The sale of non-food products remained unchanged. Sales were lower in May as probably Romanians waited to buy cheaper food after the VAT rate cut from 24% to 9%, on June 1. Compared to May 2014, the retail trade turnover went up 3.1% in May this year, in gross series. Study: Lower VAT rate on food increases sales volumes in Romania Irina Popescu, irina.popescu@romania-insider.com