Retail sales increase by 10.7% in Romania in 2017

Romania’s retail trade turnover, the most important indicator of household consumption, increased by 10.7% last year compared to 2016, according to the National Statistics Institute (INS). The growth pace was lower than in 2016, when the retail sales increased by 13.5%. Non-food sales increased by 13.2% last year, fuel sales went up by 12.4% and food, beverage, and tobacco sales grew by 6.8%, according to INS data. In December, the retail trade turnover increased by 13.4% compared to December 2016, as a gross series, as non-food sales were up 15.5% and fuel sales increased by 14.5%, while food sales grew by 10.3%. Household consumption was the main engine for Romania’s economic growth last year and was stimulated by the Government’s tax cuts and salary increases. However, the growth in household consumption is expected to slow down this year, which will also lead to a slower economic growth pace. editor@romania-insider.com