Estonia: Retail turnover plummets in H1/2023

Retail turnover in Estonia saw a significant decline in the first half of 2023, primarily driven by decreases in the construction and industrial goods sectors, while food sales remained relatively stable, ERR reports. The electronics industry was particularly hard-hit, with a sharp 20% drop in sales year-on-year, specifically in computers and telecommunications devices. Bookstores also witnessed a decline in sales, with approximately a 10% reduction in the number of items sold. However, due to substantial price increases, their overall revenues remained relatively unchanged. In the grocery sector, certain products saw notable declines in sales, particularly of non-essential items.